Global Advanced autonomous vehicles, government compliances, and the integration of new technology such as artificial intelligence and IoT with devices to shape the upcoming devices. 

Connected Car Devices Market is projected to witness a CAGR of 15.95% during the forecast period 2024-2031, growing from USD 15.61 billion in 2023 to USD 51 billion in 2031.

Connected Car Devices Market Size, Share, Forecast, Report, 2031

Global connected car devices market&nbsp;is projected to witness a&nbsp;CAGR of 15.95%&nbsp;during the forecast period 2024-2031, growing from&nbsp;USD 15.61 billion&nbsp;in 2023 to&nbsp;USD 51 billion&nbsp;in 2031. Connected through a wireless network, connected car devices are crucial components of the future automotive technology. Connected car devices involve internet access, remote controls, smartphone control, and enhanced navigation systems. Rising penetration of telecommunication components, accessibility of semiconductors, and rising competition among top automakers are also adding value to the market growth. The connected car devices also add layers to the overall security of the vehicle, creating geographical boundaries through features such as geofencing. Furthermore, the 5G deployment played a major role in connecting vehicles to the internet for real-time monitoring and vehicle diagnostics.
The integration of control units with upcoming technology such as artificial intelligence, machine learning, and digital chassis is anticipated to enhance the end-user experience.&nbsp; Furthermore, new modules are also being added to the devices that help young drivers navigate through the centralized user control module with smartphone linkage. With the help of connected car devices, such as lane departure warning sensors, collision detection, and automatic emergency braking (AEB) modules, accidents can be prevented. Key technology vendors keep on upgrading the technology through collaboration and tie-ups.
For instance, in February 2024, HARMAN Connected Services introduced the HARMAN Ready Connect 5G Telematics Control Unit (TCU) with the integration of Qualcomm Technologies Inc.'s state-of-the-art Snapdragon digital chassis. The collaboration has been done to induce connectivity among vehicles. Harman Ready Connect 5G (HRC) is equipped with the world's most advanced modem-RF Gen 2, the HARMAN Ready Connect 5G, to provide unmatched connectivity performance while maximizing the ability to upgrade, scale, and adapt to meet the ever-changing needs of the automotive industry.
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<h2 style="text-align: justify;">Higher Penetration of App-to-Car Connectivity and 5G Deployment to Fuel Market Growth</h2>
Car manufacturers offer a car-specific smartphone app that integrates with the vehicle&rsquo;s wireless network. Through the app, users can lock/unlock doors, open sunroofs, start/stop engines, control climate, turn on/off headlights, and honk the horn remotely. These apps also help locate the vehicle via onboard GPS. In addition, vehicles with built-in 5G connectivity offer new features and services to drivers and passengers alike. However, the true game-changing innovation will come from 5G. With its high speed, low latency, and high bandwidth, 5G would introduce new use cases that would change the face of on-road. Through these metrics, 5G has paved the prospects for connected vehicles. Some of the features are discussed below that can be described with different features 5G deployment delivers to the connected car devices.
<ul style="text-align: justify;">
<li>Enhanced Safety and Security:&nbsp;5G will allow real-time collaboration between cars, infrastructure, walkers, and others on the road, resulting in a cooperative C-ITS system capable of preventing accidents, reducing congestion, and optimizing traffic flow.</li>
<li>Improved Connectivity:&nbsp;The major attribute that 5G connectivity delivers is its global connectivity and wide bandwidths. This helps in constant access to high-quality internet for multiple car functions. It also provides access to remote diagnostics, software updates over the air, performance monitoring, and service schedules.</li>
</ul>
For instance, in September 2023, Jaguar Land Rover Inc. and Qualcomm Technologies, Inc. announced a collaboration to bring 5G capabilities to select future JLR vehicle models. The collaboration will allow low-latency vehicle-to-vehicle (M2M) connectivity, improving road safety and real-time data to support connected car services and enable vehicle autonomy.
<h2 style="text-align: justify;">Autonomous Driving Support and Enhanced Sustainability to Expand Market Size</h2>
Connected car devices would be the key enabler for self-driving cars, providing ultra-reliable, low-latency communications that are essential for vehicles to perceive their environment. Vehicles communicate with other vehicles and objects while making AI-driven decisions for higher safety. The increasing demand for vehicles with different levels of ADAS is also leading to the development of new IoT devices. The devices enable higher connectivity, creating a smart network that improves safety and efficiency, and ultimately, user experience.
Advanced connected car devices would promote the use of electric vehicles and intelligent charging solutions, which would reduce the environmental impact of cars. For instance, connected cars would provide real-time information about battery state, range, charging points, and optimal routes. This would enable wireless power transfer and enable vehicle grid integration. Enhanced connectivity supports platoons, which are groups of vehicles that move close at coordinated speeds, resulting in lower fuel consumption and emissions.
For instance, in June 2023, the &lsquo;Lexus India&rsquo; mobile app was launched by Lexus India as a one-stop solution for its customers across the country. The Lexus India mobile app is compatible with smartphones, smartwatches, and voice assistants, enhancing its existing connected car devices.
<h2 style="text-align: justify;">Government Support to Innovative Automotive Solutions and Internet Integration to Promote Growth</h2>
Governments across the globe are promoting the inclusion of smart technologies such as artificial intelligence and machine learning. The IoT devices along with connected car device&rsquo;s role in powering the ADAS system ensure higher vehicle security and safety. Furthermore, the adoption of connected car devices adds additional security layers to the vehicle, making it trackable and monitored through smartphones or other devices. The government also supports connected car devices due to its component monitoring and vehicle diagnostics for better vehicle safety. Authorities also make these systems mandatory for autonomous driving or self-driving vehicles. The government incentivizes the ADAS component including the adoption of connected car devices.
For instance, in January 2024, the PLI Scheme for automotive and automotive components are extended by one year by the Ministry of Heavy Industries. Under the PLI scheme for automotive and auto components, automatic driver assistance systems (ADAS) components are eligible for the scheme. This is in line with the government&rsquo;s focus on advanced automotive components (AACE). The PLI scheme aims to promote local manufacturing and promote innovation in the automotive industry.
<h2 style="text-align: justify;">Improved Safety Features and ADAS Adoption to Fuel Segmental Growth</h2>
Based on the product type, the connected car devices market is segmented into driver assistance systems and telematics. The increased adoption of driver assistance systems in vehicles for enhanced safety and autonomous driving is pushing the demand for driver assistance system technology. The segmental growth is also attributed to features such as adaptive cruise control, blind spot detection, park assistance, lane departure warning, and pedestrian detection system. The launch of a new range of SUVs along with crossovers is expected to fuel the segmental growth. Furthermore, the advent of sensors with reduced response time and accurate results is also propelling market growth. Apart from SUVs, the vehicle class is now also being fitted with ADAS.
For instance, in October 2023, Maruti Suzuki showcased the new generation Swift before its launch in India. It was showcased at the Japan Auto Show with level-2 ADAS technology. The car comes with a free-standing 9-inch touchscreen infotainment system and a dual-tone dashboard.
<h2 style="text-align: justify;">Asia-Pacific Thrives at an Accelerated CAGR</h2>
Asia-Pacific thrives at an accelerated rate due to EV adoption and expanded automotive manufacturing. In recent years, there has been a steady increase in the demand for intelligent solutions in the areas of Mobility, Vehicle Management, Safety, and driver assistance. The integration of these advanced technologies has become one of the key attributes that fuel the competition. Furthermore, emerging economies such as India and China are focusing on enhancing the connectivity features in the vehicles to ensure safety and high-quality rides. Furthermore, North America holds the major share of the market.
For instance, in October 2023, an Indian government panel suggested automakers scale up the connectivity features in vehicles for enhanced communication between two vehicles and external systems. Under the proposal, automakers would be required to install airwave technology in the connected vehicles to send alerts between drivers and to communicate with road systems such as traffic lights.
Future Market Scenario (2024&ndash;2031F)
<ul style="text-align: justify;">
<li>The adoption of advanced driving features in mid-segment vehicles along with the integration of new technologies such as artificial intelligence, machine learning, and IoT deployment.</li>
<li>The advent of 5G networks with broader bandwidths is projected to contribute to the market growth.</li>
<li>The compliance policies mandating vehicle-to-vehicle communication devices for lower car crashes are also fuelling the adoption of connected car devices.</li>
<li>Additional features such as crash detection and emergency calls (eCall) are anticipated to shape the future of connected car devices.</li>
</ul>
Report Scope
&ldquo;Connected Car Devices Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, that provides an in-depth analysis and qualitative and quantitative assessment of the current state of global connected car devices market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
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Report Attribute
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 15.95% between 2024 and 2031
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Revenue Forecast in 2031
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USD 51 billion
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Segments Covered
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Product Type, End-User Type, Propulsion Type, Communication Type, Vehicle
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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Airbiquity Inc, Robert Bosch GmbH, Mojio Inc., Aeris Communication Inc, Delphi Technologies, AT&amp;T Corporation, Connexion Mobility, HARMAN International, Qualcomm Incorporated, Danlaw Inc, BrightBox Group Ltd., Jasper Technologies Inc (Cisco), Valeo S.A.
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In this report, the&nbsp;global connected car devices market&nbsp;has been segmented into the following categories:&nbsp;
<ul style="text-align: justify;">
<li>By Product Type
<ul>
<li>Driver Assistance System</li>
<li>Telematics</li>
</ul>
</li>
<li>By End-User Type
<ul>
<li>OEM</li>
<li>Aftermarket</li>
</ul>
</li>
<li>By Propulsion Type
<ul>
<li>IC Engine</li>
<li>Electric Vehicle</li>
<li>Fuel Cell Vehicle</li>
</ul>
</li>
<li>By Communication Type
<ul>
<li>V2V</li>
<li>V2I</li>
<li>V2P</li>
<li>Others</li>
</ul>
</li>
<li>By Vehicle
<ul>
<li>Passenger Cars</li>
<li>Commercial Cars</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The key players in the market focus on upscaling their device designs and structure along with widening their service adopters. The competitors also enhance connectivity, solve communication problems, and add convenience to autonomous driving operations. Furthermore, the companies acquire brands that deliver advanced technology, partner with private and public entities, and showcase their technologically advanced devices in globally connected vehicle summits.
For instance, in December 2023, AT&amp;T entered into a purchase agreement to purchase Rivian electric vehicles for its fleet as part of a pilot program focused on reducing transport emissions through the deployment of smart connected vehicles. AT&amp;T plans to deploy Rivian Commercial Van and R1 vehicles to its fleet beginning in early 2024 to evaluate the various safety benefits of these vehicles.
In September 2023, Mohio announced the launch of the Next-Generation real-time video telematics platform and integrated LTE dashcam. The new video telematics dashcam is powered by the next-generation Mojio Platform. The video telematics solution combines 4G LTE-connected hardware with cloud-based services and front-end software for consumer and fleet telematics. This modular solution can be seamlessly integrated into existing telematics applications.
Key Players Operating in Global Connected Car Devices Market are:
<ul style="text-align: justify;">
<li>Airbiquity Inc.</li>
<li>Robert Bosch GmbH</li>
<li>Mojio Inc.</li>
<li>Aeris Communication Inc.</li>
<li>Delphi Technologies</li>
<li>AT&amp;T Corporation</li>
<li>Connexion Mobility</li>
<li>HARMAN International</li>
<li>Qualcomm Incorporated</li>
<li>Danlaw Inc.</li>
<li>BrightBox Group Ltd.</li>
<li>Jasper Technologies Inc (Cisco)</li>
<li>Valeo S.A.</li>
</ul>
Markets and Data&rsquo;s reports answer the following questions:
<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
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Global Connected Car Devices Market Assessment, Opportunities and Forecast, 2017-2031F

Advanced autonomous vehicles, government compliances, and the integration of new technology such as artificial intelligence and IoT with devices to shape the upcoming devices. 

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