Automotive Connected Vehicle Technologies Market Trends and Analysis by Technology, Companies and Forecast to 2028
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Automotive Connected Vehicle Technologies Market Overview
The connected vehicle technologies market is estimated at 46.2 million units in 2023 and is expected to record a CAGR of more than 6% from 2023 to 2028. The rising popularity of intelligent transportation systems and the ease of vehicle diagnosis are expected to influence the market growth positively during the projected period.
Automotive Connected Vehicle Technologies Market Outlook, 2023-2028 (Million Units)
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The automotive-connected vehicle technologies market research report provides a comprehensive overview of the global automotive-connected vehicle technologies sector including an analysis of the current sector scenario regarding the outlook in terms of key trends and drivers. The report also provides a detailed overview of technological developments and innovations, PESTER analysis, deep-dive analysis of the global market covering volume growth, regional overview, and leading component suppliers at a global and regional level. It also analyzes the recent product innovations and key strategic initiatives taken by the companies and provides an overview of patent filings in the sector across regions, countries, and top applicants.
|Market Size (2023)||46.2 million units|
|Key Segments||· OE Smartphone and Embedded Connectivity|
|Key Regions||· Asia-Pacific
· North America
· South America
|Key Companies||· Bosch
· General Motors
· Delphi Technologies
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Automotive Connected Vehicle Technologies Market Trends
Advanced connectivity, vehicle-to-Infrastructure, smart sensors, and vehicle-to-infrastructure are some of the key industry trends impacting the automotive-connected vehicle technologies market.
In order to communicate with other devices and infrastructure, contact emergency services, get vehicle software updates, and more, connected automobiles use the internet. Because of this, connectivity options like Wi-Fi and cellular networks significantly impact the ecosystem development for connected cars.
Additionally, in smart cities, vehicle-to-infrastructure (V2I) systems provide drivers with up-to-date information on the state of the roads. Additionally, advances in IoT make it possible for automobiles to connect with a wider variety of public infrastructure. Moreover, smart sensors such as Radar, LiDAR, and others operate interior operations like heat control and driver monitoring while enabling external activities like lane keeping and road monitoring.
Automotive Connected Vehicle Technologies Market by Segments
The only segment in the automotive Connected Vehicle Technologies market is OE smartphone and embedded connectivity. Asian countries are at the forefront of OE smartphone and embedded connectivity units’ adoption which in turn drives the demand for connected vehicles technologies sector.
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Automotive Connected Vehicle Technologies Market Segmentation by Regions
Asia-Pacific will lead the connected vehicle technologies market in 2023.
The key regions in the automotive Connected Vehicle Technologies market are –
- North America
- South America
Asian countries are at the forefront of OE smartphone and embedded connectivity units’ adoption which in turn drives the demand for connected vehicles technologies sector. The middle class is expanding throughout several Asian nations, which has increased demand for linked and intelligent vehicles. Consumer demand for features like connected services, in-car infotainment, and advanced driving assistance systems (ADAS) has accelerated the development of connected vehicle technologies. Asia-Pacific nations have made significant investments in enhancing their digital infrastructure, including the rollout of 5G networks. In order to provide dependable and quick communication between vehicles and the surrounding infrastructure, these high-speed networks are essential.
Automotive Connected Vehicle Technologies Market Analysis by Regions, 2023 (%)
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Automotive Connected Vehicle Technologies Market - Competitive Landscape
The top companies operating in the automotive Connected Vehicle Technologies market are Bosch, Ford, BMW, Audi, General Motors, and Delphi Technologies among others. Several other companies are also in connected vehicle technologies like Qualcomm Technologies, AT&T Inc, Samsung Electronics Co. Ltd, Telefonaktiebolaget LM Ericsson, HARMAN International, Continental AG, and CloudMade.
German engineering and electronics company Bosch has partnered with the IoT startup Veniam to develop a universal connectivity unit that enables automobiles to communicate with each other using all the transmission standards implemented in the vehicles. The new all-in-one data control units allow vehicles to communicate with each other as well as with their surroundings, irrespective of the country or make.
Automotive Connected Vehicle Technologies Market Analysis by Companies
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Automotive Connected Vehicle Technologies Market – Latest Developments
- In October 2023, SABIC Uses Certified Renewable Lexan Polycarbonate for Electric Vehicle Charger Housings, Reducing Carbon Footprint with Charge Amps, An industry first, certified renewable polycarbonate (PC) housing for electric vehicle (EV) chargers will be produced by Charge Amps thanks to SABIC, a leading global chemicals company.
- In September 2023, for cars with internal combustion engines and electric engines, Eaton stamped battery connections offer reduced weight and increased energy cycle efficiency. The intelligent power management firm Eaton revealed that it can now power internal combustion and electric passenger cars in addition to off-highway and on-highway vehicles through its power connection business. Commercial automobiles travelling on highways can choose from stamped battery terminals.
Segments Covered in the Report
Automotive Connected Vehicle Technologies Segments Outlook (Value, Million Units, 2018-2028)
- OE Smartphone and Embedded Connectivity
Automotive Connected Vehicle Technologies Regions Outlook (Value, Million Units, 2018-2028)
- North America
- South America
Provides an overview of automotive industry scenario regarding the future outlook in terms of global trends, drivers, technologies and developments. The analysis also covers regional overview across five regions — Asia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe — highlighting industry size, growth drivers, latest developments, and future inhibitors for the regions.
Reasons to Buy
Auto OEMs and component suppliers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region. The report provides a detailed analysis of the regions and competitive landscape that can help companies gain insight into the region-specific nuances. The analysts have also placed a significant emphasis on the key trends that drive customer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion. To gain competitive intelligence about leading component suppliers in the sector in the region with information about their market share and growth rates.
Table of Contents
- 1. Executive Summary
- 2. Part 1: Main Trends and Drivers
- 2.1. Trends
- 2.2. Drivers
- 3. Part 2: Technologies and Innovations
- 4. Part 3: PESTER Analysis
- 5. Part 4: Sector Forecast
- 5.1. Connected Vehicle Technology – Global Volumes & Penetration
- 5.2. Asia-Pacific Market Growth Analysis
- 5.3. European Market Growth Analysis
- 5.4. North American Market Growth Analysis
- 5.5. South America Market Growth Analysis
- 5.6. MEA market Growth Analysis
- 6. Part 5: Latest Developments
- 7. Part 6: Key Companies
- 8. Part 7: Patent Analysis
- 9. Part 8: Appendix
Frequently asked questions
What is the automotive connected vehicle technologies market size in 2023?
The connected vehicle technologies market is estimated at 46.2 million units in 2023.
What is the growth rate of the automotive connected vehicle technologies market?
The connected vehicle technologies market is expected to record a CAGR of more than 6% during 2023-2028.
Which is the leading region in the automotive connected vehicle technologies market?
Asia-Pacific will lead the connected vehicle technologies market in 2023.
Who are the key players operating in the automotive connected vehicle technologies market?
The top companies operating in the automotive connected vehicle technologies market are Bosch, Ford, BMW, Audi, General Motors, and Delphi Technologies.
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