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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Research Methodology: Connected Car M2M Connections and Services Market - Global Market Assessment, 2021 - 2028
Vantage Market Research follows a veracious methodology to arrive at market-related projections. The research methodology is based on the 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. We conduct more than 100 primary interviews for each market either through mail or telephone call. Vantage Market Research employs the most infallible research methodology that ensures clients are receiving:
- Consistent, vigorous, and actionable data analysis that would help to make key business decisions
- Statistically improved and reliable insights through a veracious and well-audited research methodology.
- Independent study ensures a tangible representation of the market
The next stage involves the primary research conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills the following data requirements:
- First-hand information global market size, regional and segmental trends, competitive landscape
- Validate and authorization of secondary research outcomes and findings
- Further data collection and expertise development & market understandings
Data Triangulation and Market Size Estimations
After the determination of the overall market size through secondary and primary research, the market is divided into various segments and sub-segments. Moreover, top-down and bottom-up approaches were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. During the data triangulation process, the data was analyzed by employing various data models and statistical techniques to arrive at exact statistics and market size for each segment/sub-segment of the market. The data is analyzed and triangulated by considering all the key market impacting factors from both supply and demand side of Connected Car M2M Connections and Services market.
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.