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Connected Car Market Size & Share, by Technology (3G, 4G/LTE, 5G), Connectivity (Integrated, Embedded, Tethered), Application (Driver Assistance, Telematics, Infotainment, Mobility Management), Distribution Channel (Aftermarket, OEM), Regional Forecast, Industry players, Growth Statistics 2024-2033

Report ID: FBI 1609


Published Date: Sep-2023


Format : PDF, Excel

Market Outlook:

Connected Car Market size exceeded USD 23.63 Billion in 2023 and is anticipated to cross USD 195.5 Billion by 2033, registering a CAGR of more than 27.72% during the forecast period. As automakers and technology firms spend in R&D to improve vehicle connectivity and develop new services and income streams, the connected car market has been expanding significantly. The market comprises both aftermarket solutions for current vehicles and original equipment manufacturers (OEMs) adding connection capabilities into new vehicles.

The connected car market represents a major change in the automotive sector, enabling future mobility solutions like autonomous driving and intelligent transportation networks while also improving safety, convenience, and efficiency. The development of wireless communication technologies, including 5G networks, has been essential in enabling dependable and fast connectivity for automobiles. The performance of connected car applications is improved, and real-time data interchange is made possible by faster and more reliable networks.

Base Year Value (2023)

USD 23.63 Billion

18-23 x.x %
24-33 x.x %

CAGR (2024-2033)


18-23 x.x %
24-33 x.x %

Forecast Year Value (2033)

USD 195.5 Billion

18-23 x.x %
24-33 x.x %
Connected Car Market

Historical Data Period


Connected Car Market

Largest Region

North America

Connected Car Market

Forecast Period


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Market Dynamics:

Growth Drivers & Opportunities:

Increasing adoption of anti-theft systems is propelling the market

Anti-theft systems are essential for maintaining the safety and security of automobiles. Customers are growing increasingly anxious about securing their vehicles as a result of the rise in vehicle thefts and the sophistication of theft tactics. As a result, there is a rising need for cutting-edge anti-theft systems that can offer improved security features. Customers that place a high priority on vehicle security are being drawn in by the availability of such cutting-edge anti-theft technology in linked automobiles. Car owners feel more in charge of their vehicle's safety and have peace of mind due to the ability to monitor and operate their automobiles via mobile applications or other linked devices.

Rise in the adoption of ADAS to drive the market

Another factor propelling the connected car market is the increase in the use of Advanced Driver Assistance Systems (ADAS). The need for connected automobiles is being driven by the growing usage of ADAS by both automotive manufacturers and consumers. More drivers are looking for cars with ADAS as they become more aware of the convenience and safety advantages these cutting-edge systems offer. This in turn encourages users to choose connected automobiles in order to take advantage of the full potential of these technologies, and manufacturers to build ADAS capabilities into their vehicles.

Report Scope

Report CoverageDetails
Segments CoveredTechnology, Connectivity, Application, Distribution Channel
Regions Covered• North America (United States, Canada, Mexico)  
• Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe)  
Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC)  
• Latin America (Argentina, Brazil, Rest of South America)  
• Middle East & Africa (GCC, South Africa, Rest of MEA)
Company ProfiledBosch, Continental AG, Delphi Technologies PLC, DENSO Corporation, Harman International Industries, Inc, Infineon Technologies AG, NXP Semiconductors N.V., Toyota Motor Corporation, Valeo, and ZF Friedrichshafen AG, BorgWarner

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Industry Restraints & Challenges

Hackability of vehicles to restrain the market

The potential hacking of connected cars could impede the market's expansion for connected vehicles. Vehicles are more susceptible to cybersecurity attacks as they become more connected, dependent on the internet, and used to connecting to outside networks.

Report Coverage & Deliverables

Historical Statistics Growth Forecasts Latest Trends & Innovations Market Segmentation Regional Opportunities Competitive Landscape
Connected Car Market
Connected Car Market

Regional Forecast:

Asia Pacific Market

Asia Pacific is anticipated to dominate the connected car market from 2024 to 2033. The industry has expanded as a result of factors such expanding urbanisation, rising disposable income, and technological improvements. Advanced driver assistance systems (ADAS) and 5G networks are only two examples of the considerable improvements in communication technologies that have taken place in the region. These technologies are essential for ensuring smooth communication between infrastructure, other devices, and vehicles.

North American Market

North America is witnessing the fastest market growth between 2024 to 2033. Due to the rising need for cutting-edge car features, the presence of major automotive manufacturers, and a clientele with a keen interest in technology, the region has experienced significant growth.

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Segmentation Analysis:

Insights by Technology

The 5G segment accounted the largest market share over the forecast period 2024 to 2033. The experience of in-car entertainment and infotainment is improved with 5G connectivity. It offers access to cloud-based services, high-quality media streaming, and seamless interaction with smartphones and smart home appliances. While travelling, passengers can take advantage of connected applications such as streaming HD film and music.

Insights by Connectivity

The integrated technology segment is expected the dominate the market over the forecast period 2024 to 2033. The development and execution of ADAS features in connected cars heavily rely on integrated technology. To aid drivers and improve safety, ADAS uses a combination of sensors, cameras, radar, and AI algorithms. These parts can be seamlessly integrated thanks to integrated technology, which makes it possible to use features like automated emergency braking, lane-keeping assistance, and adaptive cruise control.

Insights by Application

Driver assistance segment holds the significant market share over the forecast period 2024 to 2033. With automobile manufacturers and technology firms investing in R&D to improve current ADAS capabilities and add new functionality, the driver assistance segment is constantly evolving. This involves enhancing item recognition, pedestrian detection, and prediction capabilities through the use of AI and machine learning algorithms.

Insights by Distribution Channel

OEM segment is witnessing the fastest market growth between the forecast period 2024 to 2033. To meet the increased demand for connected cars, automotive OEMs are increasing their footprint in a number of markets and geographic areas. This involves expanding into developing nations where urbanisation, rising disposable incomes, and a growing need for cutting-edge automotive technologies are all factors.

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Competitive Landscape:

Major players in the market

  • Bosch
  • Continental AG
  • Delphi Technologies PLC
  • DENSO Corporation
  • Harman International Industries, Inc.
  • Infineon Technologies AG
  • NXP Semiconductors N.V.
  • Toyota Motor Corporation
  • Valeo
  • ZF Friedrichshafen AG
  • BorgWarner

Recent Industry Developments

  • In February 2022, HARMAN has made an announcement about the launch of HARMAN Savari MECWAVE which is an Ultra Low Latency Edge Based Platform for Turn Key Connectivity.
  • In June 2020, Bosch has launched its new MEMS sensor named SMI230 which provides trouble-free navigation.

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Connected Car Market Size & Share, by Technology (...

RD Code : 24