Connected Car Market to Grow at a CAGR of 26.26% by 2025 | Increasing Internet Penetration & Its Impact on the Connected Cars Market to Boost Growth | 17000+ Technavio Reports

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Nov 23, 2021, 10:30 ET

NEW YORK, Nov. 23, 2021 /PRNewswire/ -- The connected car market is set to grow by USD 117.34 billion from 2020 to 2025, progressing at a CAGR of 26.26% according to the latest market report by Technavio.

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Attractive Opportunities in Connected Car Market by Connectivity Type and Geography - Forecast and Analysis 2021-2025

Connected Car Market 2021-2025: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Alps Alpine Co. Ltd., BMW Group, Daimler AG, DXC Technology Co., Ford Motor Co., NXP Semiconductors NV, Schaeffler AG, Tesla Inc., Valeo SA, and Volkswagen AG are some of the major market participants.

Connected Car Market 2021-2025: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our connected car market report covers the following areas:

Connected Car Market 2021-2025:Drivers & Challenges

The increasing internet penetration& its impact on the connected cars market, applications of blockchain technology in connected cars, and the government regulations to increase in-vehicle safety and improvement in safety controls will offer immense growth opportunities. However, the design complexity and technological challenges will hamper the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Connected Car Market 2021-2025: Segmentation

Geography

North America
Europe
APAC
South America
MEA

Connectivity Type

Integrated solutions
Embedded solutions
Tethered solutions

Connected Car Market 2021-2025: Key Regions & Revenue Generating Segment

35% of the market's growth will originate from North America during the forecast period. The US is the key market for the connected car market in North America. Market growth in this region will be faster than the growth of the market in Europe, South America, and MEA.
The connected car market share growth by the integrated solutions segment will be significant during the forecast period.
The increasing adoption of technological advancements such as smart devices, the rising application of IoT technology to a wide range of electronics, and the surge in need for road safety along with the growing focus on the development of autonomous vehicles are the major reasons for the growth of the segment in the connected cars market.

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Connected Car Market 2021-2025: Key Highlights

CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will assist connected car market growth during the next five years
Estimation of the connected car market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the connected car market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of connected car market vendors

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Connected Car Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 26.26%
Market growth 2021-2025	USD 117.34 billion
Market structure	Fragmented
YoY growth (%)	21.44
Regional analysis	North America, Europe, APAC, South America, and MEA
Performing market contribution	North America at 35%
Key consumer countries	US, China, Germany, Japan, and UK
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Alps Alpine Co. Ltd., BMW Group, Daimler AG, DXC Technology Co., Ford Motor Co., NXP Semiconductors NV, Schaeffler AG, Tesla Inc., Valeo SA, and Volkswagen AG
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
Customization preview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio