Connected Car Market Players, Competition, Situation & Trends Research Report

Global connected car market is projected to reach $156.1 billion by 2023, according to P&S Intelligence.

The growth of the market is majorly driven by the stringent government norms and regulations favoring the growth of connected car technology. In addition, the rise in demand for enhanced driving experience, coupled with ramp-up in the automobile production, is expected to benefit the market during the forecast period.

Insights into market segments

On the basis of products and services, the connected car market is categorized into fleet manager, original equipment manufacturer (OEM) services, processors, wireless and cellular modules, aftermarket services, and sensors. The fleet manager category dominated the segment, accounting for more than 40% market share in 2017 in terms of value. The dominance of this category in the segment can be owed to the increase in the adoption of connected car technologies, primarily for tracking fleet vehicles by their managers. Such technologies help the fleet managers to track the vehicle condition and ensure that the vehicle maintenance is done before the occurrence of any serious vehicle casualties.

4G/LTE technology was the largest category in the technology segment in connected car market. Much of this can be owed to the increasing demand for fast and advanced technology for the connected cars. Additionally, it allows drivers to connect and share vital information, and update emergency service provider faster as compared to other commercial technologies in the market, which is the reason why the 4G technology is expected to dominate the market during the forecast period.

Market Segmentation

By Products and Services

• Fleet Manager
• Wireless and Cellular Modules
• OEM Services
• Sensors
• Processors
• Aftermarket Services

By Technology

• 4G/LTE
• 3G
• 2G

By Application

• Navigation
• Infotainment
• Telematics

By Connectivity

• Integrated
• Embedded
• Tethered

Some of the major players operating in the global connected car market are Continental AG, Delphi Technologies PLC, DENSO Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, Harman International Industries Inc., Valeo SA, and Autoliv Inc.

About P&S Intelligence

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