The global Connected Car Mobility Solutions Market is valued at USD 42.5 Billion in 2022 and is projected to reach a value of USD 179.97 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 17.5% between 2023 and 2030.
Regulations governing highways and vehicle traffic have tremendously improved automotive safety and promoted technological integration. For instance, India's Union Ministry for Road Transport and Highways has implemented important regulations to improve auto safety and technological adoption. Advanced driver assistance systems will be required in all vehicles starting in 2022, and starting on October 1, 2023, passenger automobiles must have at least six airbags. Also, the industry is collaborating to create cutting-edge Next-Generation Qinggan Intelligent Cockpit Platform Solutions, and this regulatory push aligns with those efforts. One such example is Qualcomm Technologies Inc. expanding its alliance with PATE Corporation. These developments, centered on cutting-edge central controllers and include a wide range of characteristics, including intelligent networking, service-oriented architecture, and multi-domain fusion, represent a dynamic push towards complete intelligent vehicle solutions.
Connected Car Mobility Solutions Market Size, 2022 To 2030 (USD Billion)
- Increased ADAS features promote safer and more technologically advanced driving conditions. By improving vehicle efficiency and safety, this convergence stimulates market expansion.
- North America generated more than 43.2% of revenue share in 2022
- Asia Pacific is expected to grow at the quickest rate from 2023 to 2030
- The V2C segment accounted for the largest market growth. It contributed over 29.3% of the total revenue share in 2022 due to its multifaceted benefits and widespread adoption.
- Passenger Cars segment revealed the most significant market growth, contributing more than 54.2%% of the total revenue share in 2022
The Connected Car Mobility Solutions market is expected to experience rapid economic growth over the next five years. By 2025, this increase is anticipated to have created hundreds of thousands of new employment, generated up to $100 billion in revenue from data monetization, and contributed up to 30% of market revenue through subscription-based models. Additionally, it is anticipated that using linked automobiles will reduce traffic congestion by 15% and urban carbon emissions by up to 10%, potentially saving cities billions of dollars. The market is expected to foster technological improvements and collaborations that further stimulate economic progress with over $50 billion in forecasted investments.
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Top Market Trends
- Advancements in autonomous driving technology: The technology is still being developed and improved to increase vehicle automation.
- Vehicle-to-everything (V2X) communication integration: Connecting vehicles with other vehicles, infrastructure, pedestrians, and more to enable real-time data sharing to improve traffic management and safety
- Integration of Electric and Hybrid Vehicles: Electric and hybrid powertrains are being incorporated into connected cars to encourage environmentally friendly transportation and lessen reliance on fossil fuels.
- Data Monetization and Analytics: Utilizing the data produced by connected automobiles to derive insightful conclusions that may make money through various services and applications.
- Subscription-Based Services and Business Models: A new source of income for manufacturers is the provision of subscription-based services and business models for services like in-car entertainment, navigation, and maintenance.
Connected Car Mobility Solutions The global Connected Car Mobility Solutions market can be categorized into Product, Application. The Connected Car Mobility Solutions market can be categorized into V2I , V2V , V2C , V2P , V2X based on Product. The Connected Car Mobility Solutions market can be categorized into Passenger Cars, Commercial Cars based on Application.
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Based on Product
V2C Connected Car Mobility Solutions holds the largest share
The V2C (vehicle-to-cloud) Connected Car Mobility Solutions market rules the global market. V2C systems provide drivers and fleet operators with several benefits, including increased safety through hazard alerts like traffic congestion or accidents, averting accidents, and saving lives. Additionally, these technologies improve efficiency by streamlining traffic, reducing congestion, and saving drivers and businesses money and time. The convenience factor has increased because V2C solutions provide real-time weather and traffic data, enabling drivers to make informed decisions. These technologies also offer tailored services, providing suggestions for gas stations or restaurants, enhancing the driving experience with more convenience and fun.
Based on Application
Passenger Cars will dominate the market
Passenger cars will dominate the Connected Car Mobility Solutions market. The increasing customer desire for connectivity features—from remote diagnostics to navigation and infotainment—reinforces the appeal of these solutions and encourages their integration. Compellingly, regulatory regulations worldwide increasingly require connected car technologies to be included in passenger cars, increasing the demand for mobility solutions that can offer these services seamlessly.
Based on Region
North America will lead the market
North America is expected to dominate the Connected Car Mobility Solutions market due to its early adoption of breakthrough technology and the high level of consumer disposable money in the area. The growing desire among North American consumers for cutting-edge automobile technologies that include connectivity, safety, and infotainment supports this prevailing trend. Profiting from this, linked car mobility solutions are ready to meet these needs, leading to an increase in regional market demand.
The global Connected Car Mobility Solutions market is fragmented, including automakers, telecom giants, software and solution providers, startups, fleet management, mobility service providers, telematics experts, cybersecurity professionals, auto suppliers, and academic institutions. Established businesses like traditional automakers and tech giants cooperate with startups and innovators to integrate connectivity, AI, and cloud services into automobiles, while telecom companies supply crucial network infrastructure. The ecosystem is augmented by producers of software platforms, telematics products, and cybersecurity services; it is transformed by fleet management and mobility service providers. For instance, As part of a partnership with the German Association of the Automobile Industry, Ford has partnered with infrastructure providers and companies, including Bosch, to demonstrate the potential for a connected car to communicate with the car park infrastructure and not only find a space but also park itself in September 2022.
The players in the global Connected Car Mobility Solutions market include Bosch, Valeo, General Motors, Siemens, Harman International, Toyota, Inrix, Mojio, Hitachi, Horiba Mira among others.
Recent Market Developments
- February 2022: An Ultra-Low-Latency Edge-Based Compute Platform for Turn-Key Connectivity, called HARMAN Savari MECWAVE, was introduced by HARMAN. Vehicle-to-everything (V2X) communications like hazard alarms and high-throughput networking experiences like interactive infotainment and video streaming be deployed more quickly thanks to MECWAVE. Additionally, MECWAVE provides V2X capabilities to mobile and wearable devices and non-V2X compatible vehicles and equipment like motorcycles and scooters.
- November 2021: A technology solution for highly autonomous driving was developed by Continental and consists of clever software that can do challenging driving maneuvers on its own. Starting at Level 3, highly autonomous driving is feasible thanks to a ground-breaking application called the Next Generation Driving Planner. This suggests that a vehicle can operate some driving functions without a driver. An important development in automotive intelligence may be seen in the software that Continental developed.
Segmentation of the Global Connected Car Mobility Solutions Market
- Passenger Cars
- Commercial Cars
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- General Motors
- Harman International
- Horiba Mira
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
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