HomePress ReleaseEIN PresswireConnected Car Market projected to grow at a CAGR of 19.23% to...

Connected Car Market projected to grow at a CAGR of 19.23% to surpass US$194 billion by 2028

The related automotive market is estimated to grow at a CAGR of 19.23% to attain US$194.387 billion in 2028 from US$69.693 billion in 2021.

A main issue driving the related automotive market development is the rising client demand for sensible options, notably in superior and quickly growing international locations.”

— Data Sourcing Intelligence

NOIDA, UTTAR PRADESH, INDIA, August 16, 2023/ — In accordance to a new examine printed by Data Sourcing Intelligence, the related automotive market is projected to grow at a CAGR of 19.23% between 2023 and 2028 to attain US$194.387 billion by 2028. A main issue driving the related automotive market development is the rising client demand for sensible options.

The related automotive business represents a game-changing convergence of automotive know-how and communication, changing autos into clever, data-driven entities. These autos use real-time connectivity, Web of Issues integration, and complicated sensors to enhance driving expertise, security, and effectivity. The related vehicle business is altering trendy transportation by offering facilities corresponding to navigation, leisure, and automobile diagnostics. The market continues to change as automobiles grow to be extra networked, opening the trail for novel mobility options and figuring out the long run of driving in a related world.

The related vehicle business is increasing quickly, thanks to a confluence of highly effective components that outline its evolution and innovation. Connectivity know-how developments are a cornerstone, offering seamless connections between automobiles, infrastructure, and networks. As clients demand extra built-in digital experiences, the marketplace for sensible options corresponding to navigation, real-time diagnostics, distant management, and leisure programs is increasing. Automobile security is turning into more and more essential, necessitating the incorporation of superior driver help programs (ADAS) and real-time monitoring. As a outcome, the business reacts by offering collision avoidance, adaptive cruise management, and computerized emergency response, subsequently bettering highway security and driving ease.

Autos might grow to be data-driven platforms thanks to IoT connectivity and knowledge analytics. This helps with predictive upkeep, efficiency optimization, and customized providers, which will increase the attraction of related cars. The adoption of related automotive know-how is pushed by authorities laws and norms pushing for vehicular security and environmental conscience. Stringent air pollution discount and highway security rules additionally drive automakers to undertake connection applied sciences that meet regulatory standards. The introduction of self-driving automobiles has a huge affect on the related vehicle business. As automobiles grow extra self-sufficient, knowledge transmission between autos and their environment turns into more and more essential, driving the demand for improved connection.

Shopper expectations for a seamless digital life-style are catered to by means of enhanced in-car leisure and infotainment decisions. The merging of the automotive and know-how sectors leads to collaborative initiatives through which automakers and know-how corporations work collectively to develop advanced and user-friendly linked automotive programs. The constraints of urbanization and site visitors administration spotlight the significance of efficient vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication, pushing the adoption of related automotive applied sciences in sensible cities. Furthermore, rising cellular and cloud providers function the inspiration for related automobile ecosystems, offering real-time updates, over-the-air software program upgrades, and distant entry, all of which contribute to the related automotive market’s fast enlargement.

Entry pattern report or view particulars:

The related automotive market has been categorized based mostly on service, software, end-market, and geography. The market has been segmented based mostly on service into driver help, security, automobile & mobility administration, and others. Finish-market is additional categorized into OEM and aftermarket.

By area, North America leads the related automobiles market owing to subtle technical infrastructure, intensive use of IoT gadgets, and highly effective automotive business contributors. Shoppers within the area who’re tech-savvy need seamless connectivity and sensible options, which is driving the incorporation of related automotive know-how. North America has a sturdy demand for related cars, with an emphasis on security, leisure, navigation, and vehicle-to-vehicle communication. Authorities laws supporting automobile security, in addition to the presence of digital behemoths and automakers actively investing in related automotive applied sciences, cement the area’s place as a forerunner in creating the related automotive atmosphere.

As a half of the report, the important thing corporations working within the related automotive market which were coated embody Land Rover Restricted, HARMAN Worldwide, Verizon, Daimler AG, AT&T, Vodafone Group, Telefónica S.A, BMW AG, and Audi of America amongst different important market gamers.

The market analytics report segments the related automotive market as follows:

• By Service

o Driver help

o Security

o Automobile and mobility administration

o Others

• By Utility

o Security

o Telematics

o Infotainment

o Navigation

• By Finish- Market


o Aftermarket

• By Geography

o North America

• United States

• Canada

• Mexico

o South America

• Brazil

• Argentina

• Others

o Europe

• United Kingdom

• Germany

• France

• Spain

• Italy

• Others

o Center East and Africa

• Saudi Arabia


• Israel

• Others

o Asia Pacific

• Japan

• China

• India

• South Korea

• Indonesia

• Thailand

• Others

Discover Extra Stories:

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• E-Hailing Market:

Ankit Mishra
Data Sourcing Intelligence
+1 850-250-1698
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