Global Connected Car Devices Market Set to Reach USD 219.02 Billion by 2030

The global connected car devices market is projected to expand significantly, reaching USD 219.02 billion by 2030, with a compound annual growth rate (CAGR) of 16.1% during the forecast period. 

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Driving Factors Behind Market Growth

The surge in market size is primarily attributed to the increasing integration of telecommunication services within the automotive industry. The demand for navigation services, heightened safety concerns, and the rise in vehicle thefts have propelled the adoption of connected car devices. These devices offer real-time access to resources such as protection, information, navigation, and remote diagnostics.  

Regional Insights

United States: Growth and Consolidation

The United States is a pioneer in vehicle connectivity, with initiatives like the US Transportation Department's proposal to mandate vehicle-to-vehicle (V2V) communications technology by 2023. This move aims to accelerate the deployment of connected car technologies, enhancing safety and efficiency on the roads. ​

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Asia Pacific: Opportunities and Trends

The Asia Pacific region holds a significant share of the connected car devices market, driven by rapid urbanization, substantial investments in smart city projects, and supportive policies encouraging the adoption of connected cars. China leads the market in this region, with government-backed smart city initiatives and rapid electrification of vehicles fueling growth. ​

Europe: Trends and Updation

Europe commands a substantial share of the connected car devices market, with autonomous vehicles equipped with advanced sensors and communication systems driving the adoption of connected car devices such as telematics units and vehicle-to-everything (V2X) communication modules. The shift towards electric mobility is fostering the development of integrated systems that monitor battery performance, charging station availability, and energy consumption, all relying on interconnected devices. 

Middle East and Africa: Emerging Opportunities

The Middle East and Africa are emerging markets for connected car devices, with increasing investments in automotive technologies and infrastructure development. Countries like South Africa and members of the Gulf Cooperation Council (GCC) are witnessing a gradual adoption of advanced automotive technologies, presenting opportunities for market players to expand their footprint.

Conclusion

The global connected car devices market is poised for substantial growth, driven by technological advancements, strategic partnerships, and regional initiatives promoting automotive innovation. As the industry evolves, stakeholders must navigate the dynamic landscape to capitalize on emerging opportunities and address challenges effectively.

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♦ Market Segmentation: In-Depth Analysis:

by Communication

Vehicle-to-Vehicle (V2V)
Vehicle-to-Infrastructure (V2I)
Vehicle-to-Pedestrian(V2P)
Others (V2C, V2D, V2G)

by Technology

Driver Assistance Systems
Adaptive cruise control
Lane departure warning
Blind spot detection
Road sign recognition
Park assist
Pedestrian detection system
Telematics
Others

According to technology, the driver assistance systems category is expected to reach USD$ x Mn by 2030, with the greatest market share of x% in 2023. Adaptive cruise control connectivity is predicted to expand at the quickest rate in the worldwide connected automotive sector. Adaptive cruise control linked solutions are expanding as a result of government regulations, service plan cost management, and the creation of cloud-based services. Adaptive cruise control linked vehicles are becoming more and more popular since many connected car services, including eCall and remote diagnostics, need an inbuilt communication system in the vehicle.

by Connectivity

Dedicated Short Range Communication (DSRC)
Long Range/ Cellular Network

by Vehicle Type

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles

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♦ Learn about the top players driving innovation in the Market :

1. Continental AG
2. Denso Corporation
3. Delphi Automotive, PLC
4. Robert Bosch GmbH
5. Autoliv Inc.
6. Valeo SA
7. Tesla
8. Volkswagen
9. Porsche
10. General Motors

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