According to the new market research report “Connected Car Market by Service (OTA Update, Navigation, Cybersecurity, Multimedia Streaming, Social Media, e-Call, Autopilot, Home Integration, & Others), Form, End Market (OE, Aftermarket), Network, Transponder, Hardware, & Region - Global Forecast to 2025", Published by MarketsandMarkets™, The global connected car market size is projected to reach USD 166.0 billion by 2025, from an estimated USD 53.9 billion in 2020, at a CAGR of 25.2%.The growth of the global connected car market is influenced by factors such as the increasing trend of in-vehicle connectivity solutions and government initiatives toward developments in intelligent transportation systems.
Therefore, the connected car market is expected to witness significant growth in the future.Browse in-depth TOC on "Connected Car Market"148 – Tables58 – Figures218– PagesDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=102580117The autopilot market is expected to grow at the fastest CAGR.The introduction of autopilot would minimize driver intervention.
For instance, the upcoming model of the Cadillac CT6 will be equipped with the semi-autonomous “Super Cruise” feature that will essentially allow fully autonomous single-lane travel on divided highways.Similarly, Audi will also be including its Level 3 semi-autonomous technology in the upcoming model of the A8.
As safety regulations have been made in Japan and South Korea, the connected car market in these countries is anticipated to increase in the coming years.In 2017, the Chinese Ministry of Industry and Information Technology (MIIT) and the Standardization Administration of China (SAC) issued a draft to establish national standards for China’s Intelligent & Connected Vehicles (ICV).
Due to the growing population and vehicle demand, China is expected to introduce vehicle and road safety regulations.
In 2019, Airbiquity announced that it became a member of the Japan Automotive Software Platform and Architecture (JASPAR), an organization dedicated to advancing the standardization of in-vehicle software and networks to enhance development efficiency and reliability.The globally connected car market is dominated by major players such as Continental (Germany), Bosch (Germany), HARMAN (US), Airbiquity (US), and Visteon (US).Browse Related Reports:Telematics Solutions Market by Service (ACN, eCall, RSA, Remote Diagnostics, Insurance Risk Assessment, Driver Behavior, Billing & Other), Form & Vehicle Type, Component, Connectivity, Aftermarket, Fleet Management Service, Region - Global Forecast to 2025Over the Air Updates Market for Automotive by Technology (SOTA and FOTA), Application (ECU, TCU, Infotainment, and Safety & Security), Vehicle Type (PC and CV), Electric Vehicle Type (BEV, HEV, and PHEV), and Region - Global Forecast to 2022About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies revenues.