Automotive Connected Vehicle Technologies Market Trends, Sector Overview and Forecast to 2028

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Published: March 29, 2024 Report Code: GDAUS460324-ST

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Automotive Connected Vehicle Technologies Market Report Overview

The connected technologies market size was 48.2 million units in 2023. The market will grow at a CAGR of more than 5% during 2023-2028. Advanced diagnostic systems will promote connected car technology market growth. With modern diagnostics, the car’s system will provide information about the vehicle to the auto shop and the customers. This will help them identify future problems with the car before they arise and enable customers to take charge of their vehicle’s upkeep. In 2023, Asia-Pacific accounted for a significant share of the automotive connected technologies market.

Automotive Connected Technologies Market Outlook, 2023-2028 (Million Units)

Automotive Connected 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 connected vehicle market trends and drivers. The automotive connected vehicle market also provides a detailed overview of technological developments and PESTER analysis. Furthermore, evaluate strategic initiatives by market players and their recent product innovations to identify growth opportunities. The report also provides an overview of patent filings across sectors, regions, countries, and top applicants.

Market Size (2023) 48.2 million units
CAGR (2023-2028) >5%
Historical Period 2018-2022
Forecast Period 2023-2028
Key Regions Asia-Pacific, Europe, North America, South America, and MEA
Key Companies Bosch, Ford, BMW, Audi, and General Motors
Key Sectors OE Smartphone and Embedded Connectivity
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Automotive Connected Vehicle Technologies Market Trends

A few of the key trends shaping the automotive connected vehicle technologies market are advanced sensors and internet connectivity, among others.

Internet Connectivity: Connected automobiles rely on the Internet to communicate with other devices and infrastructure, contact emergency services, receive vehicle software updates, and more. The performance of connected cars depends on connectivity options such as Wi-Fi and cellular networks. However, conventional communication systems have limited bandwidth and high latency, which can hinder the performance of connected cars. To address this issue, startups have developed specialized chipsets that enable fast communication via 5G and decentralized networks.

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Automotive Connected Vehicle Technologies Market Segmentation by Regions

In 2023, Asia-Pacific accounted for the highest automotive connected vehicle technologies market share among all the regions

The key regions in the automotive connected vehicle technologies market are Asia-Pacific, Europe, North America, South America, and MEA. Consumer demand for features such as in-car infotainment, connected services, and advanced driving assistance systems (ADAS) has accelerated the development of connected vehicle technologies in Asia-Pacific. The region has also made significant investments in upgrading its digital infrastructure, including the deployment of 5G networks. These high-speed networks are crucial in providing reliable and fast communication between vehicles and the surrounding infrastructure.

Automotive Connected Vehicle Technologies Market Analysis by Regions, 2023 (%)

Automotive Connected Vehicle Technologies Market Analysis by Regions, 2023 (%)

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Automotive Connected Vehicle Technologies Market – Competitive Landscape

A few of the top companies operating in the market are:

  • Bosch
  • Ford
  • BMW
  • Audi
  • General Motors

Bosch partnered with Veniam to develop a universal connectivity unit that allows vehicles to communicate with each other and their surroundings.

Moreover, the company is taking strategic actions to aid the growth of the connected vehicle market. In August 2022, Bosch India and PTV Group partnered to advance connected mobility in India. They will build digital solutions for a sustainable future.

Automotive Connected Vehicle Technologies Market Analysis by Companies

Automotive Connected Vehicle Technologies Market Analysis by Companies

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Automotive Connected Vehicle Technologies Market Segmentation by Sectors

The only sector 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. An increased need for safer and more efficient transportation solutions drives the sector’s growth. As a result, the market for connected vehicle technology will continue its rapid growth.

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Automotive Connected Vehicle Technologies Market – Latest Developments

A few of the latest developments in the automotive connected vehicle technologies market are as follows:

  • 18th January 2024: Moving Intelligence announced a merger with the leading force in next-generation vehicle data solutions, Echoes. The combined group will create an undisputed European smart-connected vehicle solutions leader.
  • 6th March 2024: Analog Devices (ADI) announced that it is supplying BMW with E²B, the supplier’s 10Base-T1S ethernet-to-edge bus technology. They announced that the ethernet allows new, zonal architectures in the design of software-defined vehicles. BMW will use the technology for ambient lighting systems.​

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Segments Covered in this Report

Automotive Connected Vehicle Technologies Sector Outlook (Value, Million Units, 2018-2028)

  • OE Smartphone and Embedded Connectivity

Automotive Connected Vehicle Technologies Regional Outlook (Value, Million Units, 2018-2028)

  • Asia-Pacific
  • Europe
  • North America
  • South America
  • MEA

Scope

  • Trends & Drivers: Provides an overview of the current key trends and drivers that will influence the sector’s growth in the future.

  • Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.

  • PESTER Analysis: Provides a detailed understanding of political, economic, social, technological, environmental, and regulatory factors impacting the sector.

  • Sector Forecast: Provides deep-dive analysis of the global market covering volume growth during 2018-2028, and spot estimates for 2030 and 2036. The analysis also covers a regional overview across four regions highlighting sector size and growth drivers.

  • Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.

  • Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.

Reasons to Buy

  • The report provides OEMs and component suppliers’ latest information on market evolution to help formulate sales and marketing strategies.

  • The report provides authentic market data with a high level of detail to help gain a competitive edge in the market.

  • The report provides its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector.

  • The report analyzes regions and competitive landscape that can help companies gain insight into the region-specific nuances.

  • The report assesses the key trends that drive customer choice and the future opportunities that can be explored in the region. Actionable insights on trends can help companies in revenue expansion.

  • The report helps gain competitive intelligence about leading component suppliers in the region with information about their market share and growth rates.

Automotive

,OE Smartphone And Embedded Connectivity

,Robert Bosch, Ford

,BMW

,Audi

,Delphi Technologies and General Motors.

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

    • 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

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