Connected Car Market: Analyzing the Industry's Growth and Challenges

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Connected Car Market Size Worth USD 153.48
Billion in 2032
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Rapid advancements in sensing technology, rising
demand for fuel efficient vehicles globally, and
surge in the usage of telematics are key factors
driving market revenue growth
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Our Model
Market Analysis
Financial Analysis
Distribution Channel Analysis
Brand Analysis
Custom Market Intelligence
Competitor Analysis
Product Analysis
Custom Research
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Demand Analysis
Risk Analysis
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Business Plan Parameters
End Use Analysis
Demand Availability Analytics
Market Entry Strategy
Restructuring Revival
New Product Strategy
Product Planning / Strategy
SWOT Analysis
Marketing / Distribution Channel Feasibility
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Customer Identification Survey
Competitive Landscape / MA Feasibility
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Industries We Cater to
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Market Summary
The global connected cars market size was USD
28.50 Billion in 2022 and is expected to register
a steady revenue CAGR of 18.4 during the
forecast period, according to latest analysis by
Emergen Research. Rapid advancements in sensing
technology, rising demand for fuel efficient
vehicles globally, and surge in the usage of
telematics are key factors driving market revenue
growth. Connected cars can help in fuel
management by providing real-time information on
a vehicle's fuel consumption and range, as well
as by optimizing vehicle's performance to improve
fuel efficiency. Connected cars can also provide
information on location of nearby gas stations
and prices of fuel, allowing drivers to make
informed decisions on where to refuel. In
addition, these cars can also use data on traffic
and road conditions to plan the most efficient
route, which can help to reduce fuel consumption.
Through Vehicle-to-Everything (V2X)
communication, vehicles can also share
information on traffic congestion, road closures,
and other events that might impact fuel
consumption. Moreover, rapid advancements in
sensing technology is another factor driving
revenue growth of the market. In connected cars,
sophisticated sensors are employed to collect
data on surroundings and drivers behavior.
Numerous features, including infotainment
systems, driver assistance systems, and
autonomous driving capabilities, are made
possible by these sensors. For instance, usage of
Light Detection and Ranging (LiDAR) sensors can
be used to build thorough Three Dimensional (3D)
maps of the area around automobile, enabling it
to recognize and detect objects such as other
cars, people, and barriers. These factors are
expected to drive revenue growth of the market
over the forecast period. Read More
https//www.emergenresearch.com/industry-report/co
nnected-cars-market
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Market Summary
Some Key Highlights From the Report The 5G
segment is expected to register a rapid revenue
growth rate over the forecast period. This is due
to rapid rollout and adoption of 5G connectivity
across various region globally. The integrated
segment is expected to account for largest
revenue share over the forecast period. This can
be attributed to increasing popularity of
Vehicle-to-Vehicle (V2V) communication and
Vehicle-to-Infrastructure (V2I) communication in
connected cars. The sensors segment is expected
to account for largest revenue share over the
forecast period. This is due to rapid advancement
made in sensing technology, which are used in
connected cars to gather data and improve overall
driving experience. The cellular segment
accounted for largest revenue share in 2022. This
can be attributed to rising popularity of
cellular Vehicle-to-Everything (C-V2X)
communication, which is based on 4G and 5G
connections and rapid rollout of 5G technology,
is further driving revenue growth of the
market. The North America market is expected to
account for largest revenue share over the
forecast period. This is due to rising government
investments and funding to promote research in
connected car technology in this region. Request
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Market Summary
The Global Connected Cars Market Based on
technology, connectivity, hardware, network, and
region Technology Outlook (Revenue, USD Billion
2019-2032) 3G 4G 5G Connectivity Outlook
(Revenue, USD Billion 2019-2032) Embedded Integra
ted Tethered Hardware Outlook (Revenue, USD
Billion 2019-2032) Central Gateway (CGW) Head
Unit Intelligent Antenna Electronic Control Unit
(ECU) Telematic Control Unit (TCU) Sensors Reques
t customization of the report _at_
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ization/1670
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Parameter Details
Market Size Estimation Period 2020-2028
Base Year Considered 2020
Historical Data 2017-2019
Forecast Period 2021-2028
Quantitative Units Revenue in USD million CAGR from 2020 to 2028
Segments Covered Types, Application, End-Users, Regions more.
Countries Included The U.S., Germany, U.K., Italy, China, India, Japan, Brazil
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
Regions Scope North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Customization Scope 10 hours of free customization expert consultation
Pricing and Purchase Options Explore Different Purchase Options Request for Discount to Avail New Year Discount
MARKET SEGMENTATION
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Regional Share Dynamics
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