Subject: MRR
Connected Car Market to Grow at a CAGR of 26.26% by 2025 | Increasing Internet Penetration & Its Impact on the Connected Cars Market to Boost Growth | 17000+ Technavio Reports
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
- Geography
- North America
- Europe
- APAC
- South America
- MEA
- Connectivity Type
- Integrated solutions
- Embedded solutions
- Tethered solutions
Connected Car Market 2021-2025: Key Regions & Revenue Generating Segment
- 35% of the market's growth will originate from North America during the forecast period. The US is the key market for the connected car market in North America. Market growth in this region will be faster than the growth of the market in Europe, South America, and MEA.
- The connected car market share growth by the integrated solutions segment will be significant during the forecast period.
- The increasing adoption of technological advancements such as smart devices, the rising application of IoT technology to a wide range of electronics, and the surge in need for road safety along with the growing focus on the development of autonomous vehicles are the major reasons for the growth of the segment in the connected cars market.
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Connected Car Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist connected car market growth during the next five years
- Estimation of the connected car market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the connected car market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of connected car market vendors
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Connected Car Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 26.26% |
Market growth 2021-2025 | USD 117.34 billion |
Market structure | Fragmented |
YoY growth (%) | 21.44 |
Regional analysis | North America, Europe, APAC, South America, and MEA |
Performing market contribution | North America at 35% |
Key consumer countries | US, China, Germany, Japan, and UK |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | 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 |
Market Dynamics | 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 |
Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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