Connected Car M2M Connections and Services Market
Connected Car M2M Connections and Services Market Global Industry Assessment & Forecast
- By Application Safety and Driver Assistance, Infotainment, Vehicle Management, Insurance Based Telematics
- By End Market Original Equipment Manufacturer (OEMs), Aftermarket
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||19.28 Billion|
|Revenue 2028:||55.58 Billion|
|Revenue CAGR (2021 - 2028):||14.15%|
|Fastest Growing Region (2022 - 2028)||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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The report delivers an acute breakdown of the market based on various segments such as Application, End Market, , and region. The report includes market size and forecast for each segment by region/country for the years 2016–2028. Moreover, it also covers a thorough analysis of growth factors and opportunities impacting segmental growth.
On the basis of Application, the market is divided into Safety and Driver Assistance, Infotainment, Vehicle Management, Insurance Based Telematics. Safety and Driver assistance dominated the global Connected Car M2M Connections and Services market in 2020 and is projected to witness the same trend during the forecast period.
Based on End Market, the market is segmented into Original Equipment Manufacturer (OEMs), Aftermarket. Original Equipment Manufacturer (OEMs) accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Connected Car M2M Connections and Services Market: Application Segment Analysis
- Safety and Driver Assistance
- Vehicle Management
- Insurance Based Telematics
Global Connected Car M2M Connections and Services Market: End Market Segment Analysis
- Original Equipment Manufacturer (OEMs)
Frequently Asked Question
The global Connected Car M2M Connections and Services valued at 19.28 Billion in 2020 and is expected to reach 55.58 Billion in 2028 growing at a CAGR of 14.15%%.
The prominent players in the market are Intel, Ericsson, BMW, CalAmp, Airbiquity, Verizon Telematics, Broadcom, Apple, Alcatel-Lucent, Bell Mobility, General Motors, HERE, BMW, Ford Motors, Google, Audi Connect, Harman International, Sierra Wireless, AT&T, Hyundai Motors, Daimler, Aeris, Autonet Mobile, IBM, Axway, Gemalto..
The market is project to grow at a CAGR of 14.15%% between 2021 and 2028.
The driving factors of the Connected Car M2M Connections and Services include
- The rising car sale across the globe is anticipated to augment the growth of the connected car M2M connections and services market during the forecast period. This is owing to the rapid urbanization, rising disposable income of the consumers, and increasing developments in current technologies. Furthermore, the constant upgradation and updates of software and services used in this market are anticipated to offer productive opportunities for the growth of the connected car M2M connections and services market in the coming years.
- The development of different technologies like AI Interfaces and 5G is anticipated to augment the growth of the connected car M2M connections and services market in the years to come. Most of the players in telecom industry are developing 5G to increase the safety and efficiency of connected cars. According to International 5G automotive associations, 68% of accidents can be avoided with the integration of 5G connectivity technology. Furthermore, with the increasing use of sensors coupled with other technologies that are used to collect data, AI will be considered as an important technology to make sense of all data collected. Some automobiles already use AI for Level 3 autonomous driving whcih is driving the market.
North America was the leading regional segment of the Connected Car M2M Connections and Services in 2020.