Connected car facilitates connectivity on wheels offering comfort, convenience, performance, safety, and security along with powerful network technology. This enables the driver to connect with online platforms, thereby facilitating real-time communication. The connected car crosses a broad array of intersecting technological developments such as home integration, mobility management, vehicle management, entertainment, well-being, safety and autonomous driving.

The global Connected Car market was valued at $28 Billion in 2019 and is estimated to reach $139 Billion by 2027, registering a CAGR of 24.6% from 2020 to 2027.

Rise in consumer demand for connectivity solutions, surge in need for constant connectivity, increase in dependency on technology, and upsurge in tech-savvy population are the key factors that contribute toward the growth of the global connected cars market.

Moreover, rise in trend of connectivity solutions and ease of vehicle diagnosis are expected to boost the growth of the market. In addition, increase in need of safety & security fuels the market growth. However, threat of data hacking, and unavailability of uninterrupted & seamless connectivity are the critical factors that restrict the growth of this market.

The report also presents a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2027. The forecasts cover 3 Technology Types, 6 Services Types, 2 Vehicles Types, 5 Regions, and 19 Countries.

The report comes with an associated file covering quantitative data from all numeric forecasts presented in the report.

The report has the following key findings:

• The global connected car market was valued at US$ 28,358.4 Million in 2019 and it is expected to reach at US$139,100.6 Million by 2027, growing at a CAGR of 24.6% over the forecast period.

• 4G/LTE technology is largest revenue contributing technology in the global connected car market. However, 5G technology is anticipated to grow with rapid rate.

• Driver assistance service was valued at US$ 6,898.8 Million in 2019.

• North America dominates the global connected car market. In 2019, North America has accounted for 32.7% market share.

• Asia Pacific region is expected to grow at the highest rate over the forecast period, it is expected to grow by 28.2% during 2020-2027.

The report covers the following topics:

• Market Drivers, Restraints, and Opportunities

• Connected Car Eco-System Analysis

• Market Trends: Introduction of 5G, V2I connectivity, eCall and beyond

• Connected Car Market Key Developments from 1966 to 2023

• Analysis by Technology, Service, Vehicle Type, and Region

• 25 Company Profiles, Product Portfolio, and Key Strategies

• Market analysis and forecasts from 2016 to 2027

• COVID-19 Impact on Connected Car Market