The global connected cars market was valued at USD 60,378 million in 2018 and is expected to reach USD 212,256 million in 2026, growing at a CAGR of 15.07% from 2019 to 2026.
Connected cars are basically a vehicle which shares data with devices installed inside or outside of it through wireless local area network (LAN). Dedicated short-range communication (DSRC) is one of the key components of connected cars component which enables data to be communicated with other devices. Safety and comfort are some of the prominent benefits of using connected cars technology.
The growth of the connected cars market is primarily driven by the increase in need of safety & security and an increase in demand for technology development and the utilization of advanced automatic electronics in the vehicle. Moreover, growing industry competition is pushing manufacturers to focus on offering the quality-driven product and further increase in the demand for autonomous and connected technologies are expected to create growth opportunities in the market for manufacturers. Additionally, the growing emphasis on developing military vehicles is fuelling the growth of this industry. However, the high initial capital investment, as well as growing concern for data and security concerns, are the main restraining factors which may hamper the growth of the global connected cars market.
Connected Cars Market Segmentation |
|
| By Technology | Embedded |
| Tethered | |
| Integrated | |
| By Network | DSRC |
| Cellular | |
| By Service | Driver Assistance |
| Safety & Security | |
| Entertainment | |
| Vehicle Management | |
| Others | |
| By Region | North America (US and Canada) |
| Europe (UK, Germany, France and Rest of Europe) | |
| Asia Pacific (China, Japan, India and Rest of Asia Pacific) | |
| Latin America (Brazil, Mexico and Rest of Latin America) | |
| Middle East & Africa (GCC and Rest of Middle East & Africa) | |
The embedded connected cars technology is poised to dominate the market throughout the forecast period
Based on technology, the connected cars market has been segmented into an embedded, tethered, and integrated. The embedded segment accounted for more than 50% of the share in the global connected cars market in 2018. While integrated technology segment accounted highest CAGR in the global connected cars market during the forecast period owing to greater compatibility.
Based on the network, the DSRC segment is expected to grow at a CAGR of around 16% during the forecast period
Based on the network, the market has been segmented into DSRC and cellular. The DSRC network segment accounts of the largest share in the market and expected to grow at a CAGR of around 16% during the forecast period. While the cellular segment expected to hold the highest CAGR of approximately 19% during the forecast period.
Based on the service, the driver assistance segment is expected to dominate during 2019 to 2026
Based on the service, the market has been segmented into driver assistance, safety & security, entertainment, vehicle management, and others. The driver assistance segment accounts of the largest share in the market and held for more than 40% of the total market in 2018. While the safety & security segment expected to hold the highest CAGR in the global connected cars market during the forecast period.
Regionally, North America to dominate the connected cars market throughout the forecast period
North America accounted for nearly 45% share of the global connected cars market in 2018 and is expected to dominate the market throughout the forecast period owing to the presence of leading manufacturers and direct government involvement for the implementation of pilot projects.
Asia-Pacific is expected to hold the highest CAGR in the global market during the forecast period owing to the presence of developing countries and one of the leading automobiles production countries, namely, China, India, and Japan. Moreover, growth is further attributable to the highest deployment of connected cars in China. This expected to increase the deployment of connected cars in the domestic market during the forecast period.
The major players operating in the global connected cars market are General Motors, BMW, Daimler AG, Tesla Inc., Volkswagen AG, Volvo, Jaguar Land Rover, Nissan Motors, Ford Motor Company, and TomTom International N.V. among others.
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Chapter 1 Executive Summary
1.1. Market Summary
1.1.1. Global Connected Cars Market, 2016-2026, (USD Million)
1.2. Market Snapshot: Global Connected Cars Market
1.3. Market Dynamics
1.4. Global Connected Cars Market, by Segment, 2018
1.4.1. Global Connected Cars Market, by Technology, 2018, (USD Million)
1.4.2. Global Connected Cars Market, by Network, 2018, (USD Million)
1.4.3. Global Connected Cars Market, by Service, 2018, (USD Million)
1.4.4. Global Connected Cars Market, by Region, 2018 (USD Million)
1.5. Premium Insights
1.5.1. Connected Cars Market In Developed Vs. Developing Economies, 2018 vs 2026
1.5.2. Global Connected Cars Market: Regional Life Cycle Analysis
Chapter 2 Market Dynamics
2.1. Market Overview
2.2. Market Drivers
2.2.1. Increase in need of safety & security
2.2.2. Increase in demand for advanced automatic electronics in the vehicle
2.3. Market Restraints
2.3.1. High initial capital investment
2.3.2. Data and security concern
2.4. Market Opportunities
2.4.1. Growth in the demand for autonomous and connected technologies
2.5. Industry Value Chain Analysis
2.6. Pricing Analysis
2.7. Porter’s Five Forces Analysis
Chapter 3 Global Connected Cars Market, by Technology
3.1. Market Overview, by Technology
3.1.1. Global Connected Cars Market, by Technology, 2016-2026 (USD Million)
3.1.2. Incremental Opportunity, by Technology, 2018
3.2. Embedded
3.2.1. Global Connected Cars Market, by Embedded, 2016-2026, (USD Million)
3.3. Tethered
3.3.1. Global Connected Cars Market, by Tethered, 2016-2026, (USD Million)
3.4. Integrated
3.4.1. Global Connected Cars Market, by Integrated, 2016-2026, (USD Million)
Chapter 4 Global Connected Cars Market, by Network
4.1. Market Overview, by Network
4.1.1. Global Connected Cars Market, by Network, 2016-2026 (USD Million)
4.1.2. Incremental Opportunity, by Network, 2018
4.2. DSRC
4.2.1. Global Connected Cars Market, by DSRC, 2016-2026, (USD Million)
4.3. Cellular
4.3.1. Global Connected Cars Market, by Cellular, 2016-2026, (USD Million)
Chapter 5 Global Connected Cars Market, by Service
5.1. Market Overview, by Service
5.1.1. Global Connected Cars Market, by Service, 2016-2026 (USD Million)
5.1.2. Incremental Opportunity, by Service, 2018
5.2. Driver Assistance
5.2.1. Global Connected Cars Market, by Driver Assistance, 2016-2026, (USD Million)
5.3. Safety & Security
5.3.1. Global Connected Cars Market, by Safety & Security, 2016-2026, (USD Million)
5.4. Entertainment
5.4.1. Global Connected Cars Market, by Entertainment, 2016-2026, (USD Million)
5.5. Vehicle Management
5.5.1. Global Connected Cars Market, by Vehicle Management, 2016-2026, (USD Million)
5.6. Others
5.6.1. Global Connected Cars Market, by Others, 2016-2026, (USD Million)
Chapter 6 Global Connected Cars Market, by Region
6.1. Market Overview, by Region
6.1.1. Global Connected Cars Market, by Region, 2016-2026, (USD Million)
6.2. Attractive Investment Opportunity, by Region, 2018
6.3. North America Connected Cars Market
6.3.1. North America Connected Cars Market, by Technology, 2016-2026 (USD Million)
6.3.2. North America Connected Cars Market, by Network, 2016-2026 (USD Million)
6.3.3. North America Connected Cars Market, by Service, 2016-2026 (USD Million)
6.3.4. United States Connected Cars Market, 2016-2026 (USD Million)
6.3.5. Canada Connected Cars Market, 2016-2026 (USD Million)
6.4. Europe Connected Cars Market
6.4.1. Europe Connected Cars Market, by Technology, 2016-2026 (USD Million)
6.4.2. Europe Connected Cars Market, by Network, 2016-2026 (USD Million)
6.4.3. Europe Connected Cars Market, by Service, 2016-2026 (USD Million)
6.4.4. United Kingdom Connected Cars Market, 2016-2026 (USD Million)
6.4.5. Germany Connected Cars Market, 2016-2026 (USD Million)
6.4.6. France Connected Cars Market, 2016-2026 (USD Million)
6.4.7. Rest of Europe Connected Cars Market, 2016-2026 (USD Million)
6.5. Asia Pacific Connected Cars Market
6.5.1. Asia Pacific Connected Cars Market, by Technology, 2016-2026 (USD Million)
6.5.2. Asia Pacific Connected Cars Market, by Network, 2016-2026 (USD Million)
6.5.3. Asia Pacific Connected Cars Market, by Service, 2016-2026 (USD Million)
6.5.4. China Connected Cars Market, 2016-2026 (USD Million)
6.5.5. Japan Connected Cars Market, 2016-2026 (USD Million)
6.5.6. India Connected Cars Market, 2016-2026 (USD Million)
6.5.7. Rest of Asia Pacific Connected Cars Market, 2016-2026 (USD Million)
6.6. Latin America Connected Cars Market
6.6.1. Latin America Connected Cars Market, by Technology, 2016-2026 (USD Million)
6.6.2. Latin America Connected Cars Market, by Network, 2016-2026 (USD Million)
6.6.3. Latin America Connected Cars Market, by Service, 2016-2026 (USD Million)
6.6.4. Brazil Connected Cars Market, 2016-2026 (USD Million)
6.6.5. Mexico Connected Cars Market, 2016-2026 (USD Million)
6.6.6. Rest of Latin America Connected Cars Market, 2016-2026 (USD Million)
6.7. Middle East & Africa Connected Cars Market
6.7.1. Middle East & Africa Connected Cars Market, by Technology, 2016-2026 (USD Million)
6.7.2. Middle East & Africa Connected Cars Market, by Network, 2016-2026 (USD Million)
6.7.3. Middle East & Africa Connected Cars Market, by Service, 2016-2026 (USD Million)
6.7.4. GCC Connected Cars Market, 2016-2026 (USD Million)
6.7.5. Rest of Middle East & Africa Connected Cars Market, 2016-2026 (USD Million)
Chapter 7 Competitive Intelligence
7.1. Top 5 Players Comparison
7.2. Market Positioning of Key Players, 2018
7.3. Market Players Mapping
7.3.1. By Technology
7.3.2. By Network
7.3.3. By Service
7.3.4. By Region
7.4. Strategies Adopted by Key Market Players
7.5. Recent Developments in the Market
7.5.1. Mergers & Acquisitions, Partnership, New Product Developments
Chapter 8 Company Profiles
8.1. General Motors
8.1.1. General Motors Overview
8.1.2. General Motors Products Portfolio
8.1.3. General Motors Financial Overview
8.1.4. General Motors News/Recent Developments
8.2. BMW AG
8.2.1. BMW AG Overview
8.2.2. BMW AG Products Portfolio
8.2.3. BMW AG Financial Overview
8.2.4. BMW AG News/Recent Developments
8.3. Daimler AG
8.3.1. Daimler AG Overview
8.3.2. Daimler AG Products Portfolio
8.3.3. Daimler AG Financial Overview
8.3.4. Daimler AG News/Recent Developments
8.4. Tesla Inc.
8.4.1. Tesla Inc. Overview
8.4.2. Tesla Inc. Products Portfolio
8.4.3. Tesla Inc. Financial Overview
8.4.4. Tesla Inc. News/Recent Developments
8.5. Volkswagen AG
8.5.1. Volkswagen AG Overview
8.5.2. Volkswagen AG Products Portfolio
8.5.3. Volkswagen AG Financial Overview
8.5.4. Volkswagen AG News/Recent Developments
8.6. Volvo
8.6.1. Volvo Overview
8.6.2. Volvo Products Portfolio
8.6.3. Volvo Financial Overview
8.6.4. Volvo News/Recent Developments
8.7. Nissan Motors
8.7.1. Nissan Motors Overview
8.7.2. Nissan Motors Products Portfolio
8.7.3. Nissan Motors Financial Overview
8.7.4. Nissan Motors News/Recent Developments
8.8. Ford Motor Company
8.8.1. Ford Motor Company Overview
8.8.2. Ford Motor Company Products Portfolio
8.8.3. Ford Motor Company Financial Overview
8.8.4. Ford Motor Company News/Recent Developments
8.9. TomTom International N.V.
8.9.1. TomTom International N.V. Overview
8.9.2. TomTom International N.V. Products Portfolio
8.9.3. TomTom International N.V. Financial Overview
8.9.4. TomTom International N.V. News/Recent Developments
8.10. Jaguar Land Rover
8.10.1. Jaguar Land Rover Overview
8.10.2. Jaguar Land Rover Products Portfolio
8.10.3. Jaguar Land Rover Financial Overview
8.10.4. Jaguar Land Rover News/Recent Developments
Chapter 9 Preface
9.1. Data Triangulation
9.2. Research Methodology
9.2.1. Phase I – Secondary Research
9.2.2. Phase II – Primary Research
9.2.3. Phase III – Expert Panel Review
9.2.4. Approach Adopted
9.2.4.1. Top-Down Approach
9.2.4.2. Bottom-Up Approach
9.2.5. Supply- Demand side
9.2.6. Breakup of the Primary Profiles
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