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Written by Nasir Jones » Updated on: February 02nd, 2025
According to VynZ Research’s latest report, titled “Global Connected Car Market – Analysis and Forecast (2025-2030)”, the global connected car market size reached USD 51.4 billion in 2023 and is anticipated to reach USD 220.14 billion by 2030, thus growing at a CAGR of 25.6% during the forecast period 2025-2030.
Connected car technology is a form of vehicle that has access to the internet which assist in connecting the vehicle to the real world. It consists of OEM hardware, that permits the networking of vehicles in different versions.
Considering the technology behind the connected cars, advanced technologies such as artificial intelligence, Internet of Things, cloud computing, 5G, and others are leveraged. This allows for real-time communication between other devices, vehicles and infrastructure. The unique features of these cars offer improved safety, higher efficiency, and better user experience.
Connected Car Market Trends:
The market growth depends on various key trends. The connected car technology market has observed a surge in demand for the connected service segment due to the rising demand of customers for more convenient features such as autopilot, navigation, multimedia media streaming, performance, safety, remote diagnostic, comfort, and security. Also, the rising demand for insurance telematics and route tracking services is anticipated to drive the growth of the globally connected car market.
Due to increasing initiatives by the government to develop intelligent transportation systems, technology development, increase in production of vehicles, rising demand for luxury and comfort in vehicles, automated driving technologies including passenger safety features and rising demand for smartphone features in the car will boost the growth of the connected car market.
The market is steadily growing due to the influence of several crucial factors, out of which rising demand for safer transport and higher preference for convenient mobility are crucial. So, manufacturers are implementing sophisticated features like automated braking, advanced driver assistance systems (ADAS), and more, encouraged further by the government mandates on safety regulations.
Development in communication technology and IoT has also improved speed and reliability in connectivity which is also promoting the market growth and its prospects. This is reflected in the recent strategic partnerships between automotive majors like General Motors and tech giants like Google, promotion of smart infrastructure by the European Union, and the surge in sales of connected car globally, especially in North America and APAC.
Request Free Sample Report: https://www.vynzresearch.com/automotive-transportation/connected-car-market/request-sample
The competitive landscape of the connected car market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the global connected car market on the basis of type, drive type, vehicle, component, vehicle propulsion type and region.
Explore Full Report with TOC & List of Figure: https://www.vynzresearch.com/automotive-transportation/connected-car-market
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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