The Business Research Company’s Connected Cars Market 2022 – Opportunities And Strategies – Global Forecast To 2031
LONDON, GREATER LONDON, UK, July 19, 2022 /EINPresswire.com/ — AI technology is one of the major connected cars market trends gaining traction. Artificial intelligence technology refers to the simulation of human intelligence created by the human that is processed by computer systems. AI simulates human decision-making processes using controls actions and deep learning. Deep learning refers to analyzing the user’s lifestyle patterns over time and automatically implementing them. Thereby providing better driving and safety analysis and helps in tracking parts of a vehicle and reporting when they require maintenance. Major players in the market are focusing on developing connected cars with AI technology to enhance connected car operating systems.
The global connected cars market size is expected to grow from $76.46 billion in 2021 to $186.89 billion in 2026 at a rate of 19.6 %. The global connected cars market share is then expected to grow at a CAGR of 21.7% from 2026 and reach $499.24 billion in 2031.
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The emergence of technologies such as 5G and AI to drive the connected cars industry growth in the forecast period. Various developing and developed countries are deploying 5G and AI technologies in multiple areas. For instance, Europe and China are deploying mm Wave 5G for specific niche use cases and it aims to make it its mainstream technology in 2022. Similarly, according to Ericson, there will be more than 600 million 5G subscribers by the end of 2022. Likewise, the emerging technologies such as artificial intelligence and machine learning is shaping the businesses of all sizes. Thus, emergence of 5G and AI technologies will propel the growth of connected cars market.
Major players covered in the global connected cars industry are Volkswagen, Toyota Motor Corporation, General Motors, Daimler AG, BMW Group.
TBRC’s connected cars market report is segmented by product type into embedded, tethered, integrated, by application into navigation, infotainment, telematics, combination, by services into driver assistance, safety and well-being, entertainment, vehicle management, mobility management, other services.
Connected Cars Market 2022 – By Product Type (Embedded, Tethered, Integrated), By Application (Navigation, Infotainment, Telematics, Combination), By Services (Driver Assistance, Safety and Well-Being; Entertainment, Vehicle Management, Mobility Management, Other Services), And By Region, Opportunities And Strategies – Global Forecast To 2031 is one of a series of new reports from The Business Research Company that provides a connected cars market overview, forecast connected cars market size and growth for the whole market, connected cars market segments, geographies, connected cars market trends, connected cars market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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