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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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
Connected Car Market 2021-2025: Key Regions & Revenue Generating Segment
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Connected Car Market 2021-2025: Key Highlights
Used Car Market in the US -The used car market size in the US is expected to reach a value of 3.91 million units, at a CAGR of 1.98% during 2021-2025. Download a free sample now!
Luxury Cars Market -The luxury cars market size has the potential to grow by 66.67 thousand units during 2020-2024, and the market's growth momentum will accelerate during the forecast period. Download a free sample now!
Connected Car Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 26.26%
Market growth 2021-2025
USD 117.34 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 35%
Key consumer countries
US, China, Germany, Japan, and UK
Leading companies, competitive strategies, consumer engagement scope
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
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
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