Global Connected Cars Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global connected cars market in its upcoming report titled, “Global Connected Cars Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”. The global connected cars market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global connected cars market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global connected cars market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global connected cars market report has been segmented on the basis of connectivity solution, application, and region.

Connected cars enable car occupants to connect all compatible devices inside the vehicle and in close proximity. Along with wireless LAN, connected cars are equipped with head unit, infotainment unit, and in-dash system with monitor. In addition, connected cars have automated driver assistance system (ADAS), active safety solutions, and features to mechanically monitor vehicle performance.

Implementation of intelligent transportation system, rapid urbanization, rising adoption of Internet of Things (IoT), and favorable government mandates on telematic applications are expected to drive growth of the global connected cars market. Rising consumer demands, need for constant connectivity, and increasing dependency on technology are factors expected to further fuel growth of the global connected cars market. In addition, connected cars enable drivers to connect to various online platforms and simplify real-time communication on the go. Advancements in network technology and growing preference for high-tech and luxury cars across developed countries are expected to adoption of connected car technologies and devices during the forecast period. Smartphone integration, digital dashboards, teen drivers’ monitoring, and GPS systems with travel guidance are notable trends in the global connected cars market.

Major factors such as lack of fixed standards for connected cars manufacturers to adhere to, and concerns regarding digital safety of personalized data and information is expected to restrict growth of the global connected cars market. Non-availability of uninterrupted and seamless network and additional expenditure for embedding car connection are further impacting demand for these systems and technologies. Furthermore, high hardware and communication costs and complex user interface can negatively impact growth of the global connected cars market.

North America accounts for largest revenue share in the global connected cars market, owing to favorable government mandates, high disposable income, and presence of major automobile companies in this region. Europe holds second position in the connected cars market. The market in Asia Pacific is expected to witness prominent revenue expansion, and register a CAGR of XX.X% over the forecast period.

Global Connected Cars Market Segmentation:

Global connected cars market segmentation by connectivity solution:

• Embedded
• Tethered
• Integrated

Global connected cars market segmentation by application:

• Telematics
• Infotainment
• Combined telematics and infotainment

Global connected cars market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa