Connected Car Devices Market Accelerates Towards a $219.02 Billion Valuation by 2030

The global connected car devices market is experiencing a significant surge, projected to grow at a CAGR of 16.1% from 2024 to 2030, reaching an estimated market size of USD 219.02 billion by 2030. This growth is driven by the increasing integration of telecommunication services in the automotive industry, rising demand for navigation services, and heightened concerns over vehicle safety and security. 

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Competitive Landscape

Key players shaping the market include Continental AG, Denso Corporation, Delphi Automotive PLC, Robert Bosch GmbH, Autoliv Inc., Valeo SA, Tesla, Volkswagen, Porsche, General Motors, Harman International Industries, Incorporated, Infineon Technologies AG, Magna International Inc., Panasonic Corporation, Visteon Corporation, and ZF Friedrichshafen AG. These companies are at the forefront of innovation, focusing on advanced driver assistance systems, telematics, and vehicle-to-everything (V2X) communication technologies. ​

Regional Insights

Growth and Opportunity in the United States

The United States is witnessing a robust adoption of connected car technologies, driven by increased vehicle safety norms and the integration of IoT in the automotive sector. The introduction of autonomous vehicle technology and the proliferation of advanced driver assistance systems (ADAS) have led to connected car penetration exceeding 80% in 2022. The market is further propelled by a rise in demand for aftermarket services due to the renewal of connected car service subscriptions. ​

Trends and Consolidation in Asia Pacific

Asia Pacific, particularly China and India, is poised for rapid growth in the connected car devices market. The region's expansion is fueled by increasing demand for advanced vehicles, a shift towards electric vehicles, and a growing middle-class population. India is expected to become a leader in shared mobility by 2030, providing opportunities for electric and autonomous vehicles. China's anticipated telematics mandates, combined with increasing car sales, are projected to make it the world's leading market for embedded telematics. ​

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Updation and Opportunity in Europe

Europe is experiencing accelerated adoption of connected car technologies, driven by the integration of smartphones and wearables that enhance safety and convenience for drivers and passengers. The region's focus on electric mobility is fostering the development of integrated systems that monitor battery performance and energy consumption. Key players in the European market include Alphabet Inc., Cisco Systems Inc., Infineon Technologies AG, Intel Corporation, LG Electronics, Mitsubishi Electric Corporation, NXP Semiconductors, Qualcomm, Samsung Electronics, and Siemens AG. 

Trends and Growth in the Middle East and Africa

The Middle East and Africa are witnessing steady growth in the connected car devices market, supported by initiatives to promote electric vehicle adoption and infrastructure development. The integration of connected car technologies is enhancing vehicle safety and efficiency, aligning with the region's vision for smart transportation solutions. ​

Key Developments

In May 2024, Lenovo and Cisco announced a global strategic partnership to deliver fully integrated infrastructure and networking solutions aimed at accelerating digital transformation for businesses worldwide. This collaboration is expected to have a significant impact on the connected car devices market by providing advanced networking and AI infrastructure solutions.

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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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♦ Market Key Players : In-Depth Analysis:

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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