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Global Connected Vehicle Market Size Study & Forecast, by Technology Type, By Connectivity, By Vehicle Connectivity, By Application, By Vehicle, and Regional Analysis, 2023-2030
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Connected vehicles are a division of automobiles that are equipped with internet connectivity and communicate with other devices and networks. This communication is usually done through a range of technologies, such as Wi-Fi, cellular networks, and dedicated short-range communications (DSRC). Furthermore, connected vehicles are gaining significant momentum among a wide consumer base due to their ability to reduce traffic accidents, improved traffic flow, and more convenient travel, thereby improving safety and convenience. In addition, connected vehicles are quite a relatively new technology, and it continues to develop by means of significant revolution and technological advancements, which is expected to drive the market growth prospect. Increasing demand for safety features in vehicles, along with the rise in trend of autonomous driving further propels the expansion of the connected vehicle market across the globe.
In addition, favorable government regulations and initiatives, coupled with the increase in collaboration between OEMs and service providers is further fueling the market demand. Governments around the world are considering implementing regulations and protocols to promote connected vehicle technology. These regulations often emphasize on enhancing road safety, minimizing emissions, and raising traffic management. Incentives and mandates provided by governments further encourage manufacturers and consumers to deploy connected vehicle solutions. For instance, the National Highway Traffic Safety Administration (NHTSA) in the U.S. establishes Federal Motor Vehicle Safety Standards (FMVSS) regulations that govern the safety aspects of connected vehicles. Similarly, Japan has been at the forefront of ITS initiatives, implementing various policies such as the "ITS Green Initiative" and "Connected Car Deployment Promotion Consortium," to encourage the use of connected vehicles. These regulations aim to address concerns related to safety, data privacy, cybersecurity, and interoperability. The Chinese government is emphasizing electric mobility as well as ADAS elements in advanced vehicle technology. The leading automakers in the country are expanding their portfolio with the introduction of the new level 2 and level 3 ADAS features. For instance, in May 2021, the new Chitu small SUV was introduced by the HAVAL brand of Great Wall Motor Co. Ltd. It is powered by a 1.5L turbocharged engine with a 7-speed wet dual-clutch gearbox, producing a maximum of 135kW and 275Nm of peak torque. A Level 2 ADAS system is also present in the car, with different features depending on the version. Consequentially, government regulations and initiatives to encourage the adoption of connected vehicle is directly associated with the growth of the global market. Moreover, the growing ecosystem of connected services, as well as the rising integration of advanced safety and comfort features in vehicles, such as advanced driver assistance systems (ADAS) present various lucrative opportunities over the forecasting years. However, the high implementation cost and lack of adequate infrastructure for the proper functioning of connected vehicles are hindering market growth over the forecast period of 2023-2030.
The key regions considered for the Global Connected Vehicle Market study include: Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific leading the market in 2022 owing to the increasing vehicle safety and security norms, growing demand for vehicle-to-vehicle (V2V) connectivity, and rising focus on environmental concerns and emission reduction costs. Whereas, Asia Pacific is also projected to increase with the highest growth rate over the forecasting period. Factors such as the rising integration of 5G in vehicle models, along with rising government support and initiatives to promote the installation of connected vehicle technology are bolstering the market growth in the anticipated years.
Major market players included in this report are:
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- Visteon Corporation
- Harman International
- AT&T Inc.
- Airbiquity Inc.
- Qualcomm Technologies Inc.
- Sierra Wireless
- Infineon Technologies
Recent Developments in the Market:
- In February 2022, Qualcomm Technologies, Inc. unveiled a new Snapdragon Digital Chassis for connected vehicle platform to support the development and delivery of new cloud-connected digital services to meet the rising demand for premium driving experiences and connected in-vehicle services. This new innovation support integrated analytics, global connectivity, and on-device and cloud-enhanced apps/services.
- In April 2023, Continental AG expanded its digital access system CoSmA by a Child-Presence-Detection function (CPD) that can offer improved passenger safety and trigger warning the children left-behind inside the vehicles. The CPD function also addresses the needs for vehicle manufacturers to satisfy in- cabin safety objectives in consideration of the impending Euro NCAP safety rating and US legislation, which will in turn drive for new child safety criteria in the car by 2025.
Global Connected Vehicle Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Technology Type, Connectivity, Vehicle Connectivity, Application, Vehicle, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology Type:
By Connectivity:
- Integrated
- Embedded
- Tethered
By Vehicle Connectivity:
- Vehicle to Vehicle (V2V)
- Vehicle to Infrastructure (V2I)
- Vehicle to Pedestrian (V2P)
By Application:
- Driver Assistance
- Telematics
- Infotainment
- Others
By Vehicle:
- Passenger cars
- Commercial Vehicle
By Region:
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Connected Vehicle Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Connected Vehicle Market, by Technology Type, 2020-2030 (USD Billion)
- 1.2.3. Connected Vehicle Market, by Connectivity, 2020-2030 (USD Billion)
- 1.2.4. Connected Vehicle Market, by Vehicle Connectivity, 2020-2030 (USD Billion)
- 1.2.5. Connected Vehicle Market, by Application, 2020-2030 (USD Billion)
- 1.2.6. Connected Vehicle Market, by Vehicle, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Connected Vehicle Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Connected Vehicle Market Dynamics
- 3.1. Connected Vehicle Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Growing ecosystem of connected services
- 3.1.1.2. Rising integration of advanced safety and comfort features in the vehicle
- 3.1.1.3. Favourable Government regulations and initiatives for connected vehicle technology
- 3.1.2. Market Challenges
- 3.1.2.1. High implementation cost
- 3.1.2.2. Lack of adequate infrastructure for the proper functioning of connected vehicles
- 3.1.3. Market Opportunities
- 3.1.3.1. Rise in trend of autonomous driving
- 3.1.3.2. Increase in collaboration between OEMs and service providers
Chapter 4. Global Connected Vehicle Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Connected Vehicle Market, by Technology Type
- 5.1. Market Snapshot
- 5.2. Global Connected Vehicle Market by Technology Type, Performance - Potential Analysis
- 5.3. Global Connected Vehicle Market Estimates & Forecasts by Technology Type 2020-2030 (USD Billion)
- 5.4. Connected Vehicle Market, Sub Segment Analysis
- 5.4.1. 4G/LTE
- 5.4.2. 3G
- 5.4.3. 2G
Chapter 6. Global Connected Vehicle Market, by Connectivity
- 6.1. Market Snapshot
- 6.2. Global Connected Vehicle Market by Connectivity, Performance - Potential Analysis
- 6.3. Global Connected Vehicle Market Estimates & Forecasts by Connectivity 2020-2030 (USD Billion)
- 6.4. Connected Vehicle Market, Sub Segment Analysis
- 6.4.1. Integrated
- 6.4.2. Embedded
- 6.4.3. Tethered
Chapter 7. Global Connected Vehicle Market, by Vehicle Connectivity
- 7.1. Market Snapshot
- 7.2. Global Connected Vehicle Market by Vehicle Connectivity, Performance - Potential Analysis
- 7.3. Global Connected Vehicle Market Estimates & Forecasts by Vehicle Connectivity 2020-2030 (USD Billion)
- 7.4. Connected Vehicle Market, Sub Segment Analysis
- 7.4.1. Vehicle to Vehicle (V2V)
- 7.4.2. Vehicle to Infrastructure (V2I)
- 7.4.3. Vehicle to Pedestrian (V2P)
Chapter 8. Global Connected Vehicle Market, by Application
- 8.1. Market Snapshot
- 8.2. Global Connected Vehicle Market by Application, Performance - Potential Analysis
- 8.3. Global Connected Vehicle Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 8.4. Connected Vehicle Market, Sub Segment Analysis
- 8.4.1. Driver Assistance
- 8.4.2. Telematics
- 8.4.3. Infotainment
- 8.4.4. Others
Chapter 9. Connected Vehicle Market, by Vehicle
- 9.1. Market Snapshot
- 9.2. Global Connected Vehicle Market by Vehicle, Performance - Potential Analysis
- 9.3. Global Connected Vehicle Market Estimates & Forecasts by Vehicle 2020-2030 (USD Billion)
- 9.4. Connected Vehicle Market, Sub Segment Analysis
- 9.4.1. Passenger cars
- 9.4.2. Commercial Vehicle
Chapter 10. Global Connected Vehicle Market, Regional Analysis
- 10.1. Top Leading Countries
- 10.2. Top Emerging Countries
- 10.3. Connected Vehicle Market, Regional Market Snapshot
- 10.4. North America Connected Vehicle Market
- 10.4.1. U.S. Connected Vehicle Market
- 10.4.1.1. Technology Type breakdown estimates & forecasts, 2020-2030
- 10.4.1.2. Connectivity breakdown estimates & forecasts, 2020-2030
- 10.4.1.3. Vehicle Connectivity breakdown estimates & forecasts, 2020-2030
- 10.4.1.4. Application breakdown estimates & forecasts, 2020-2030
- 10.4.1.5. Vehicle breakdown estimates & forecasts, 2020-2030
- 10.4.2. Canada Connected Vehicle Market
- 10.5. Europe Connected Vehicle Market Snapshot
- 10.5.1. U.K. Connected Vehicle Market
- 10.5.2. Germany Connected Vehicle Market
- 10.5.3. France Connected Vehicle Market
- 10.5.4. Spain Connected Vehicle Market
- 10.5.5. Italy Connected Vehicle Market
- 10.5.6. Rest of Europe Connected Vehicle Market
- 10.6. Asia-Pacific Connected Vehicle Market Snapshot
- 10.6.1. China Connected Vehicle Market
- 10.6.2. India Connected Vehicle Market
- 10.6.3. Japan Connected Vehicle Market
- 10.6.4. Australia Connected Vehicle Market
- 10.6.5. South Korea Connected Vehicle Market
- 10.6.6. Rest of Asia Pacific Connected Vehicle Market
- 10.7. Latin America Connected Vehicle Market Snapshot
- 10.7.1. Brazil Connected Vehicle Market
- 10.7.2. Mexico Connected Vehicle Market
- 10.8. Middle East & Africa Connected Vehicle Market
- 10.8.1. Saudi Arabia Connected Vehicle Market
- 10.8.2. South Africa Connected Vehicle Market
- 10.8.3. Rest of Middle East & Africa Connected Vehicle Market
Chapter 11. Competitive Intelligence
- 11.1. Key Company SWOT Analysis
- 11.1.1. Company 1
- 11.1.2. Company 2
- 11.1.3. Company 3
- 11.2. Top Market Strategies
- 11.3. Company Profiles
- 11.3.1. Robert Bosch GmbH
- 11.3.1.1. Key Information
- 11.3.1.2. Overview
- 11.3.1.3. Financial (Subject to Data Availability)
- 11.3.1.4. Product Summary
- 11.3.1.5. Recent Developments
- 11.3.2. Continental AG
- 11.3.3. Denso Corporation
- 11.3.4. Visteon Corporation
- 11.3.5. Harman International
- 11.3.6. AT&T Inc.
- 11.3.7. Airbiquity Inc.
- 11.3.8. Qualcomm Technologies Inc.
- 11.3.9. Sierra Wireless
- 11.3.10. Infineon Technologies
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes
- 12.3. Research Assumption
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