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Connected Car Market by Connectivity, End-user, and Geography - Forecast and Analysis 2023-2027

  • Published: Jan 2023
  • Pages: 171
  • SKU: IRTNTR71188
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The connected car market is estimated to grow at a CAGR of 27.36% between 2022 and 2027. The size of the market is forecast to increase by USD 172,767.39 million. The growth of the market depends on serval factors, including increasing internet penetration and its impact on the connected cars market, applications of blockchain technology in connected cars, and government regulations to increase in-vehicle safety and improvement in safety controls. 

This report extensively covers market segmentation by connectivity (embedded solutions, integrated solutions, and tethered solutions), end-user (OEM and aftermarket), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Connected Car Market During the Forecast Period?

Connected Car Market Size

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Parent Market Analysis

Technavio categorizes the globally connected car market as a part of the global automotive components and accessories market within the global auto components market. The global automotive components and accessories market covers companies engaged in the production of parts and accessories for automobiles like passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers.  Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Connected Car Market: Key Drivers, Trends, Challenges, and Customer Landscape

The government regulations to increase in-vehicle safety and improvement in safety controls are notably driving the market growth, although factors such as data challenges associated with connected cars may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Connected Car Market Driver

The government regulations to increase in-vehicle safety and improvement in safety controls are notably driving the market growth. Governments worldwide are focusing on improving safety standards and environmental conditions. Telematics solutions such as eCall and ERA-GLONASS are increasingly being adopted in vehicles. These two examples were a result of increased focus on the connectivity capability in vehicles.   

Additionally, the increasing adoption of safety technologies like advanced driver assistance systems (ADAS) is another factor attributing to the adoption of connected cars. For instance, ADAS technologies can curb 30% of all accidents, while autonomous technologies can curb them by 90%. While ADAS contributes to reducing accidents, the ability of the automotive reconfigurable instrument is likely to assist the drivers in easier information processing of the in-vehicle systems and contribute to safer driving. Thus, this system contributes to the vehicle's onboard safety and makes it easier for the drivers to process information while constantly having an eye on the road. Therefore, these factors will drive the global market growth during the forecast period. 

Significant Connected Car Market Trend

Big data platforms provided by connected cars to push further developments are emerging trends in the market. The growth of connectivity solutions in the automotive segment is expected to offer a huge opportunity for automobile OEMs during the forecast period. Automotive OEMs focus on developing efficient products for customers, owing to the increasing availability of real-time data. Moreover, big data is expected to grow further due to the rising adoption of connected cars during the forecast period.  

Furthermore, insurance providers can use this data to calculate the optimum premium for individual customers as per their driving behavior calculated from their vehicle usage real-time data. This allows insurance providers to create long-term and more profitable customer relationships. Therefore, such factors will fuel the market growth during the forecast period. 

Major Connected Car Market Challenge

Data challenges associated with connected cars are major challenges impeding market growth. The number of vehicles with wireless network connectivity is increasing every year. Connected cars are capable of generating huge amounts of data, including engine performance to driver performance data. The generated data through such cars can influence the growth of the automotive industry and the driving experience. However, there are significant challenges associated with the generation and handling of data. Most importantly, vendors face challenges such as determining what kind of data should be collected, how it should be used, and how the data can be protected.  

Furthermore, another data challenges associated with connected cars is understanding how to use the data to provide better and personalized customer experiences. Therefore, such challenges are expected to hinder the growth opportunities for vendors in the market, which in turn, will affect the market growth during the forecast period.

Key Connected Car Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Connected Car Market Share by Geography

Global Connected Car Market Customer Landscape

Who are the Major Connected Car Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Airbiquity Inc. - The company operates under one segment. The company under this segment offers a full range of connected vehicle technologies and services, integration expertise, and solution hosting flexibility to its customers. The key offerings of the company include connected cars. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Alps Alpine Co. Ltd.
  • AT and T Inc.
  • BMW AG
  • DXC Technology Co.
  • Ford Motor Co.
  • Intellias group
  • Mercedes Benz Group AG
  • NXP Semiconductors NV
  • Qualcomm Inc.
  • Robert Bosch GmbH
  • Samsung Electronics Co. Ltd.
  • Schaeffler AG
  • Sierra Wireless Inc.
  • Telefonica SA
  • Tesla Inc.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Connected Car Market?

The market share growth by the embedded solutions segment will be significant during the forecast period. In recent times, telematics with a navigation system and smartphone integration was integrated with the in-vehicle infotainment system. These systems are moving towards adopting embedded software and smartphone-based applications, which provide entertainment, navigation, external communications, security, and Internet-based services.

Connected Car Market Size

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The embedded solutions segment was valued at USD 10,747.47 million in 2017 and continued to grow until 2021.The growing demand for hybrid vehicles worldwide is encouraging smartphone manufacturers to develop applications that will help consumers connect their smartphones to the vehicle to provide the real-time status of their vehicle battery. Furthermore, investments in autonomous cars are increasing. , in January 2019, BlackBerry and Baidu, a Chinese search engine company, announced a collaboration to provide embedded solutions for autonomous vehicles in China. Under the collaboration for integration of Baidu high-definition maps into BlackBerry real-time operating system, QNX Neutrino. As such developments and applications require the use of embedded software, such collaborations will drive market growth. Automotive OEMs, of late, are focusing on reducing the cost of embedded infotainment systems integrated into automobiles. The introduction of low-cost infotainment solutions increases the sales of vehicles equipped with infotainment systems. This will lead to the increased adoption of embedded solutions in automotive infotainment systems. Therefore, such drivers are expected to positively impact the growth of the global market during the forecast period.  

Which are the Key Regions for the Connected Car Market?

Connected Car Market Share by Geography

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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The US and Canada are among the major contributors to the growth of the market in North America. The primary factors for the growth are the advent of IoT technologies in cars and the rising adoption of vehicle-to-vehicle (V2V) connectivity.  In addition, stringent regulations from National Highway Traffic Safety Administration (NHTSA) on road safety improvements have led to a rise in the adoption of connected features like crash imminent braking, dynamic brake support, and pedestrian automatic emergency braking in cars.  

Furthermore, several firms also provide external plug-in connectivity solutions in cars. For instance, the Advance Connectivity and Automation in the Transportation System (ACATS) program conducted by the Government of Canada creates awareness about autonomous and connected technologies and develops innovative connectivity solutions. Such government initiatives are also expected to drive the growth of the market in North America during the forecast period. 

The COVID-19 outbreak in 2020 had a negative influence on the North American market. However, due to large-scale vaccination programs conducted by governments several commercial and industrial operations resumed in 2021, resulting in an increasing demand for connected cars. For instance, in July 2021, Novonix announced its plan to set up a production unit at the GE plant in Tennessee. In addition, the increasing usage of modern technology, such as 5G connectivity, will also contribute to fostering the growth of the market in focus during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Connectivity (Embedded solutions, Integrated Solutions, and Tethered solutions), End-user (OEM and Aftermarket), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).

  • Connectivity Outlook (USD Million, 2017 - 2027)
    • Embedded solutions
    • Integrated solutions
    • Tethered solutions
  • End-user Outlook (USD Million, 2017 - 2027)
    • OEM
    • Aftermarket
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Brazil
      • Argentina

Connected Car Market Scope

Report Coverage

Details

Page number

171

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 27.36%

Market growth 2023-2027

USD 172,767.39 million

Market structure

Fragmented

YoY growth 2022-2023(%)

24.41

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 35%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Airbiquity Inc., Alps Alpine Co. Ltd., AT and T Inc., BMW AG, BorgWarner Inc., DXC Technology Co., Ford Motor Co., Intellias group, Mercedes Benz Group AG, NXP Semiconductors NV, Qualcomm Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schaeffler AG, Sierra Wireless Inc., Telefonica SA, Tesla Inc., Valeo SA, Volkswagen AG, and Zubie Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Connected Car Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the connected car market between 2023 and 2027
  • Precise estimation of the connected car market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of connected car market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Connectivity
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global connected car market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global connected car market 2017 - 2021 ($ million)
    • 4.2 Connectivity Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Connectivity Segment 2017 - 2021 ($ million)
    • 4.3 End-user Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Connectivity

    • 6.1 Market segments
      • Exhibit 30: Chart on Connectivity - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Connectivity - Market share 2022-2027 (%)
    • 6.2 Comparison by Connectivity
      • Exhibit 32: Chart on Comparison by Connectivity
      • Exhibit 33: Data Table on Comparison by Connectivity
    • 6.3 Embedded solutions - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Embedded solutions - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Embedded solutions - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Embedded solutions - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Embedded solutions - Year-over-year growth 2022-2027 (%)
    • 6.4 Integrated solutions - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Integrated solutions - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Integrated solutions - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Integrated solutions - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Integrated solutions - Year-over-year growth 2022-2027 (%)
    • 6.5 Tethered solutions - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Tethered solutions - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Tethered solutions - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Tethered solutions - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Tethered solutions - Year-over-year growth 2022-2027 (%)
    • 6.6 Market opportunity by Connectivity
      • Exhibit 46: Market opportunity by Connectivity ($ million)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 47: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 48: Data Table on End-user - Market share 2022-2027 (%)
    • 7.2 Comparison by End-user
      • Exhibit 49: Chart on Comparison by End-user
      • Exhibit 50: Data Table on Comparison by End-user
    • 7.3 OEM - Market size and forecast 2022-2027
      • Exhibit 51: Chart on OEM - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on OEM - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on OEM - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on OEM - Year-over-year growth 2022-2027 (%)
    • 7.4 Aftermarket - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Aftermarket - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on Aftermarket - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on Aftermarket - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Aftermarket - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by End-user
      • Exhibit 59: Market opportunity by End-user ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 63: Chart on Geographic comparison
      • Exhibit 64: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 Germany - Market size and forecast 2022-2027
      • Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.11 Japan - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.12 UK - Market size and forecast 2022-2027
      • Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 105: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 106: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 108: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 109: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 110: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 111: Matrix on vendor position and classification
            • 12.3 Airbiquity Inc.
              • Exhibit 112: Airbiquity Inc. - Overview
              • Exhibit 113: Airbiquity Inc. - Product / Service
              • Exhibit 114: Airbiquity Inc. - Key offerings
            • 12.4 Alps Alpine Co. Ltd.
              • Exhibit 115: Alps Alpine Co. Ltd. - Overview
              • Exhibit 116: Alps Alpine Co. Ltd. - Business segments
              • Exhibit 117: Alps Alpine Co. Ltd. - Key news
              • Exhibit 118: Alps Alpine Co. Ltd. - Key offerings
              • Exhibit 119: Alps Alpine Co. Ltd. - Segment focus
            • 12.5 AT and T Inc.
              • Exhibit 120: AT and T Inc. - Overview
              • Exhibit 121: AT and T Inc. - Business segments
              • Exhibit 122: AT and T Inc. - Key news
              • Exhibit 123: AT and T Inc. - Key offerings
              • Exhibit 124: AT and T Inc. - Segment focus
            • 12.6 BMW AG
              • Exhibit 125: BMW AG - Overview
              • Exhibit 126: BMW AG - Business segments
              • Exhibit 127: BMW AG - Key offerings
              • Exhibit 128: BMW AG - Segment focus
            • 12.7 BorgWarner Inc.
              • Exhibit 129: BorgWarner Inc. - Overview
              • Exhibit 130: BorgWarner Inc. - Business segments
              • Exhibit 131: BorgWarner Inc. - Key news
              • Exhibit 132: BorgWarner Inc. - Key offerings
              • Exhibit 133: BorgWarner Inc. - Segment focus
            • 12.8 DXC Technology Co.
              • Exhibit 134: DXC Technology Co. - Overview
              • Exhibit 135: DXC Technology Co. - Business segments
              • Exhibit 136: DXC Technology Co. - Key news
              • Exhibit 137: DXC Technology Co. - Key offerings
              • Exhibit 138: DXC Technology Co. - Segment focus
            • 12.9 Ford Motor Co.
              • Exhibit 139: Ford Motor Co. - Overview
              • Exhibit 140: Ford Motor Co. - Business segments
              • Exhibit 141: Ford Motor Co. - Key news
              • Exhibit 142: Ford Motor Co. - Key offerings
              • Exhibit 143: Ford Motor Co. - Segment focus
            • 12.10 Intellias group
              • Exhibit 144: Intellias group - Overview
              • Exhibit 145: Intellias group - Product / Service
              • Exhibit 146: Intellias group - Key offerings
            • 12.11 Mercedes Benz Group AG
              • Exhibit 147: Mercedes Benz Group AG - Overview
              • Exhibit 148: Mercedes Benz Group AG - Business segments
              • Exhibit 149: Mercedes Benz Group AG - Key offerings
              • Exhibit 150: Mercedes Benz Group AG - Segment focus
            • 12.12 NXP Semiconductors NV
              • Exhibit 151: NXP Semiconductors NV - Overview
              • Exhibit 152: NXP Semiconductors NV - Product / Service
              • Exhibit 153: NXP Semiconductors NV - Key news
              • Exhibit 154: NXP Semiconductors NV - Key offerings
            • 12.13 Schaeffler AG
              • Exhibit 155: Schaeffler AG - Overview
              • Exhibit 156: Schaeffler AG - Business segments
              • Exhibit 157: Schaeffler AG - Key offerings
              • Exhibit 158: Schaeffler AG - Segment focus
            • 12.14 Tesla Inc.
              • Exhibit 159: Tesla Inc. - Overview
              • Exhibit 160: Tesla Inc. - Business segments
              • Exhibit 161: Tesla Inc. - Key news
              • Exhibit 162: Tesla Inc. - Key offerings
              • Exhibit 163: Tesla Inc. - Segment focus
            • 12.15 Valeo SA
              • Exhibit 164: Valeo SA - Overview
              • Exhibit 165: Valeo SA - Business segments
              • Exhibit 166: Valeo SA - Key news
              • Exhibit 167: Valeo SA - Key offerings
              • Exhibit 168: Valeo SA - Segment focus
            • 12.16 Volkswagen AG
              • Exhibit 169: Volkswagen AG - Overview
              • Exhibit 170: Volkswagen AG - Business segments
              • Exhibit 171: Volkswagen AG - Key offerings
              • Exhibit 172: Volkswagen AG - Segment focus
            • 12.17 Zubie Inc.
              • Exhibit 173: Zubie Inc. - Overview
              • Exhibit 174: Zubie Inc. - Product / Service
              • Exhibit 175: Zubie Inc. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 176: Inclusions checklist
                • Exhibit 177: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 178: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 179: Research methodology
                • Exhibit 180: Validation techniques employed for market sizing
                • Exhibit 181: Information sources
              • 13.5 List of abbreviations
                • Exhibit 182: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Connected Car market growth will increase by $172767.39 million during 2023-2027.
              The connected car market is expected to grow at a CAGR of 27.36% during 2023-2027.
              Technavio has segmented the connected car market by connectivity (Embedded solutions, Integrated solutions, and Tethered solutions) ,end-user (OEM, Aftermarket, APAC, South America, and MEA) , and geography (North America, Europe, APAC, South America, and Middle East and Africa).
              Airbiquity Inc., Alps Alpine Co. Ltd., AT and T Inc., BMW AG, BorgWarner Inc., DXC Technology Co., Ford Motor Co., Intellias group, Mercedes Benz Group AG, NXP Semiconductors NV, Qualcomm Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schaeffler AG, Sierra Wireless Inc., Telefonica SA, Tesla Inc., Valeo SA, Volkswagen AG, Zubie Inc. are a few of the key vendors in the connected car market.
              North America will register the highest growth rate of 35.42% among the other regions. Therefore, the connected car market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the connected car market growth are:
              • Increasing internet penetration and its impact on the connected cars market
              • Increasing number of vehicles launches featuring connected technologies
              The connected car market vendors should focus on grabbing business opportunities from the embedded solutions segment as it accounted for the largest market share in the base year.
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