How are mergers and acquisitions shaping the connected car devices industry?
Connected Car Devices Market Poised to Reach USD 219.02 Billion by 2030
Global Market Overview
The global connected car devices market is projected to grow at a CAGR of 16.1% from 2024 to 2030, reaching a valuation of USD 219.02 billion by 2030. This surge is attributed to the increasing integration of telecommunication services in the automotive sector, driven by the demand for navigation services, enhanced safety features, and remote diagnostics. The adoption of IoT sensors and eSIMs in vehicles facilitates real-time data collection on vehicle health and driver behavior, enhancing overall driving experience and safety.
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Competitive Landscape and Regional Demand
Key players in the market include BMW, Continental AG, and Bosch, who are investing in advanced technologies to enhance vehicle connectivity and safety. The Asia Pacific region, particularly countries like India and China, is witnessing the highest demand, driven by the rising middle-class population, increasing vehicle production, and a shift towards electric vehicles.
United States: Trends and Consolidation
In the United States, the connected car devices market is experiencing consolidation, with major automotive and tech companies forming strategic alliances to enhance their market presence. The demand is fueled by advancements in telecommunication infrastructure and a growing emphasis on vehicle safety and infotainment systems.
Asia Pacific: Opportunities and Updation
The Asia Pacific region presents significant opportunities for the connected car devices market, with rapid urbanization and increasing disposable incomes leading to higher demand for advanced vehicles. Countries like India and China are focusing on updating their automotive sectors, promoting electric and autonomous vehicles to reduce emissions and enhance mobility.
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Middle East and Africa: Growth and Trends
The Middle East and Africa are emerging markets for connected car devices, with growth driven by the expansion of the automotive sector and increasing adoption of smart technologies. The region is witnessing trends towards enhancing vehicle safety and connectivity, aligning with global standards.
Europe: Consolidation and Opportunity
Europe remains a significant market for connected car devices, with established automotive industries in countries like Germany, France, and the United Kingdom. The market is characterized by consolidation, with companies focusing on mergers and acquisitions to strengthen their market position. Opportunities exist in the development of connected technologies for electric and hybrid vehicles, aligning with the region's push towards sustainable transportation solutions.
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Market Segmentation: In-Depth Analysis:
by Communication
Vehicle-to-Vehicle (V2V)
Vehicle-to-Infrastructure (V2I)
Vehicle-to-Pedestrian(V2P)
Others (V2C, V2D, V2G)
by Technology
Driver Assistance Systems
Adaptive cruise control
Lane departure warning
Blind spot detection
Road sign recognition
Park assist
Pedestrian detection system
Telematics
Others
According to technology, the driver assistance systems category is expected to reach USD$ x Mn by 2030, with the greatest market share of x% in 2023. Adaptive cruise control connectivity is predicted to expand at the quickest rate in the worldwide connected automotive sector. Adaptive cruise control linked solutions are expanding as a result of government regulations, service plan cost management, and the creation of cloud-based services. Adaptive cruise control linked vehicles are becoming more and more popular since many connected car services, including eCall and remote diagnostics, require an inbuilt communication system in the vehicle.
by Connectivity
Dedicated Short Range Communication (DSRC)
Long Range/ Cellular Network
by Vehicle Type
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
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Market Key Players : In-Depth Analysis:
1. Continental AG
2. Denso Corporation
3. Delphi Automotive, PLC
4. Robert Bosch GmbH
5. Autoliv Inc.
6. Valeo SA
7. Tesla
8. Volkswagen
9. Porsche
10. General Motors
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