Connected Car Mobility Solutions Market

The global Connected Car Mobility Solutions market was valued at USD 40.25 Billion in 2020 and is projected to reach USD 180.54 Billion by 2028, growing at a CAGR of 17.5% from 2021 to 2028.

A connected car can communicate bidirectionally with systems outside of the car (LAN). This helps the car to share internet connectivity, and therefore data, with other devices both outside and inside the vehicle. For safety applications, it is expected that cars will also be connected using dedicated cellular radios or short-range communications (DSRC), operating in the FCC-granted 5.9 GHz band with very low latency.

The global Connected Car Mobility Solutions market is segmented based on by Product, Application, regions, and countries. The regional segmentation provides current and forecast demand across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed on the basis of present and future trends. Rising demand for Connected Car Mobility Solutions  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively. The report provides comprehensive analysis of the market based on drivers, restraints, opportunities, trends, competition, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

The COVID-19 pandemic is affecting industries worldwide and the global economy took hit in 2020 and likely in 2021 as well. The outbreak created disruptions in industries such as semiconductor, consumer electronics, travel, and automotive, among others. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Connected car eases on wheels’ connectivity offering safety, convenience, performance, comfort, and security along with strong network technology. This allows the driver to connect with platforms online, thereby easing real-time communication.

Increasing demand by consumer for connectivity solutions, increase in dependency on technology, surge in need for constant connectivity, and increase in tech-savvy population are the main determinants that are contributing toward the global connected cars market growth.

Enhancement in standards for vehicles global and huge cost of maintenance of advanced suspension systems are expected to obstruct the market growth for connected car.

Product  Analysis: Preview

On the basis of Product, the market is segmented into V2I, V2V, V2C, V2P, V2X. V2C  held the leading share in 2020 and is anticipated to grow at a noteworthy CAGR over the forecast timespan. This is due to the increasing adoption of V2C in emerging economies in Asia Pacific region.

Application Analysis: Preview

Based on Application, the market is segmented into Passenger Cars, Commercial Cars. Passenger Cars accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

On the basis of region, the global Connected Car Mobility Solutions market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region held the largest share of the global Connected Car Mobility Solutions market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. U.S. is one of the most profitable countries for companies operating in the market. 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The market comprises of various small, medium, and large sized players spread across all the regions. Some of the key companies operating in the global Connected Car Mobility Solutions market are Bosch, Valeo, General Motors, Siemens, Harman International, Toyota, Inrix, Mojio, Hitachi, Horiba Mira.. The report provides company market share analysis which gives a comprehensive overview of the key competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.