Connected Car Devices Boom: 16.1% CAGR, China Leads the Way by 2030

Connected Car Devices Market is projected to reach USD 219.02 Billion by 2030 | Maximize Market Research

The global Connected Car Devices Market is expected to cross $219.02 billion, growing at a CAGR of 16.1% from 2024 to 2030. The strong growth has been driven by the growing proliferation of telecommunication services in the automotive sector, the increasing prominence of Internet of Things (IoT) technologies, and an ever-increasing focus on vehicle safety and security.

Drivers & Opportunities in Market Growth

The connected car devices market is growing due to the following key factors:

Integration of Telecommunication Services − The various telecommunication services which the automotive industry undertakes are in response to the increasing demand for navigation, real-time traffic information and in-car entertainment. And, with their eSIMs and IoT sensors, these vehicles now have constant access to the internet, improving the overall driving experience.

When car connected devices boost safety, car devices can drugged the health of a vehicle, check the vehicles fuel progress and keep an eye on the drivers behavior to be safe. Driver distraction alerts and break-in notifications sent straight to owners’ smartphones enhance security and safety, respectively.

Growth of Electric and Autonomous Vehicle Market: The trend towards electric and autonomous vehicles creates new opportunities for connected car technologies. This, along with features such as remote diagnostics, software updates, and streaming, has led to the steady normalization of connected gig economy (CE) vehicles, impacting the demand for advanced connected car devices, which rely heavily on connectivity services.

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Segmentation Analysis

Based on Technology: The market is classified by technologies such as driver assistance systems, telematics, and infotainment systems. Driver assistance systems are projected to grow at a Compound Annual Growth Rate (CAGR) of 20-25%.

Connectivity solutions in connected cars consist of integrated, embedded, tethered systems. As the automotive industry continues to evolve towards this new paradigm shift in technology integration and connectivity, the integration of third-party applications into vehicles is emerging as an innovative solution that is expected to see exponential growth in popularity.

Based on Vehicle Type: The market is segmented into passenger vehicles and commercial vehicles. Based on application, the global connected car market is segmented into passenger vehicles and commercial vehicles; among these, the passenger vehicles segment is expected to hold a dominant share of the global connected car market over the forecast period, due to rising consumer demand for advanced connectivity features and rising integration of connected technologies in a range of mid to high-end vehicles.

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Regional Analysis

The growth of the connected car devices market in the United States is driven by technology development and a focus on safety and efficiency related to vehicles. The rapid growth towards electric and autonomous vehicles leads to the increased demand for connected vehicle technologies.

China: As the largest automotive market in the world, China's connected car market is fueled by rapid urbanization and demand for smart mobility solutions, with local manufacturers heavily investing in connected technologies to stay competitive.

Japan: Japan's automotive industry focuses on industrial development and automakers increasingly adopt new generation connected car technologies that enhance the driving experience while maximizing safety.

India: As urbanization continues at a rapid pace and the middle class expands, requirements for vehicles in India are bolstering the connected car devices market, especially for cost-effective and durable devices.

Competitor Analysis

The market for connected car devices is competitive, as several key players dominate the industry:

Continental AG: Continental is a global supplier of intelligent technologies that enable vehicles to and drive themselves while also connecting to their environment.

Denso Corporation Denso has been a leading provider of advanced automotive components and systems, including connected car devices that enable efficient communication and data sharing between vehicles and infrastructure.

Harman International: A subsidiary of South Korean electronics giant Samsung, Harman provides connected car solutions, including infotainment systems, telematics and connected safety features.

Valeo: Specializes in smart automotive technology providing connected car devices for vehicle safety, comfort, and energy efficiency.

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Conclusion

The connected car devices market is expected to witness steady growth owing to advances in technology, bundled telecommunication services, and a global focus on vehicle safety and efficiency. Through this, manufacturers and suppliers are rightly positioned to take advantage of these trends by leading the charge to provide the automotive industry with high-quality, efficient, and sustainable connected car solutions for the demands of tomorrow.

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