Automotive Connected Vehicle Technologies Market Trends and Analysis by Technology, Companies and Forecast to 2028
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Automotive Connected Vehicle Technologies Market Overview
The connected vehicle technologies market size was 46.2 million units in 2023. The market will grow at a CAGR of more than 6% during 2023-2028. Advanced diagnostic systems will promote the market expansion for connected car technology. In 2023, Asia-Pacific accounted for a significant share of the market.
Automotive Connected Vehicle Technologies Market Outlook, 2023-2028 (Million Units)
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The automotive connected vehicle technologies market research report provides a comprehensive overview of the connected vehicle market trends and drivers. The automotive connected vehicle market also provides a detailed overview of technological developments and innovations, PESTER analysis, and leading component suppliers at a global and regional level. Furthermore, evaluate strategic initiatives by market players and their recent product innovations to identify growth opportunities. The report also provides an overview of patent filings across sectors, regions, countries, and top applicants.
Market Size (2023) | 46.2 million units |
CAGR (2023-2028) | >6% |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
Key Regions | Asia-Pacific, Europe, North America, South America, and MEA |
Key Companies | Robert Bosch, Ford, BMW, Audi, and General Motors |
Key Sectors | OE Smartphone and Embedded Connectivity |
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Automotive Connected Vehicle Technologies Market Trends
A few of the key trends shaping the automotive connected vehicle technologies market are advanced connectivity and the application of smart sensors, among others.
Advanced connectivity: Connected automobiles use the internet to communicate with other devices and infrastructure, contact emergency services, get vehicle software updates, and for other purposes. Hence, connectivity options like Wi-Fi and cellular networks significantly impact the ecosystem development for connected cars.
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Automotive Connected Vehicle Technologies Market Segmentation by Regions
In 2023, Asia-Pacific accounted for the highest share among all the regions
The key regions in the automotive connected vehicle technologies market are Asia-Pacific, Europe, North America, South America, and MEA. Consumer demand for features like connected services, in-car infotainment, and advanced driving assistance systems (ADAS) has accelerated the development of connected vehicle technologies in Asia-Pacific.
Automotive Connected Vehicle Technologies Market Analysis by Regions, 2023 (%)
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Automotive Connected Vehicle Technologies Market – Competitive Landscape
A few of the top companies operating in the market are:
- Robert Bosch
- Ford
- BMW
- Audi
- General Motors
Bosch partnered with the IoT startup Veniam to develop a universal connectivity unit that enables automobiles to communicate with each other.
Moreover, the company is taking strategic actions to aid the growth of the connected vehicle market. In August 2022, Bosch India and PTV Group announced their partnership to advance the future of connected mobility in India.
Automotive Connected Vehicle Technologies Market Analysis by Companies
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Automotive Connected Vehicle Technologies Market Segmentation by Sectors
The only sector in the automotive connected vehicle technologies market is OE smartphone and embedded connectivity. Asian countries are at the forefront of OE smartphone and embedded connectivity units’ adoption.
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Automotive Connected Vehicle Technologies Market – Latest Developments
A few of the latest developments in the automotive connected vehicle technologies market are as follows:
- 24th October 2023: NXP Semiconductors unveiled a novel wireless connection solution called AW693 that meets automotive qualification standards. The AW693 is part of a broad spectrum of wireless connectivity options.
- 16th October 2023: Cummins partnered with the Eclipse Foundation, Microsoft, and other industry partners to release a novel and cutting-edge method for creating telematics software for commercial vehicles.
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Segments Covered in this Report
Automotive Connected Vehicle Technologies Sector Outlook (Value, Million Units, 2018-2028)
- OE Smartphone and Embedded Connectivity
Automotive Connected Vehicle Technologies Regional Outlook (Value, Million Units, 2018-2028)
- Asia-Pacific
- Europe
- North America
- South America
- MEA
Scope
- Provides an overview of the current key trends, drivers, technologies, and developments that will influence the sector’s growth in the future.
- Provides a detailed overview of across five regions highlighting industry size, growth drivers, latest developments, and future inhibitors.
Reasons to Buy
- The report provides OEMs and component suppliers’ latest information on market evolution to help formulate sales and marketing strategies.
- The report provides authentic market data with a high level of detail to help gain a competitive edge in the market.
- The report provides its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector.
- The report analyzes regions and competitive landscape that can help companies gain insight into the region-specific nuances.
- The report assesses the key trends that drive customer choice and the future opportunities that can be explored in the region. Actionable insights on trends can help companies in revenue expansion.
- The report helps gain competitive intelligence about leading component suppliers in the region with information about their market share and growth rates.
Ford
BMW
Audi
General Motors
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Frequently asked questions
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What was the automotive connected vehicle technologies market size in 2023?
The connected vehicle technologies market size was 46.2 million units in 2023.
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What will the automotive connected vehicle technologies market growth rate be during the forecast period?
The automotive connected vehicle technologies market will grow at a CAGR of more than 6% during 2023-2028.
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Which was the leading region in the automotive connected vehicle technologies market in 2023?
Asia-Pacific was leading the automotive connected vehicle technologies market in 2023.
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Which are the key companies in the automotive connected vehicle technologies market?
The top companies operating in the market are Robert Bosch, Ford, BMW, Audi, and General Motors, among others.
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