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Connected Car Device Market Size Expected to Reach $170.5 Billion with CAGR of 14.4% by 2030 – IndustryARC


Connected Cars Market

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Connected Cars Market Drivers New Technologies driving Connected Car Penetration

HYDERABAD, TELANGANA, INDIA, October 26, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Connected Car Device Market size is estimated to surpass $170.5 billion mark by 2026 growing at an estimated CAGR of more than 14.4% during the forecast period 2021 to 2026. The market is driven by progress in level of autonomous technology and dictate usage of 4G technology embedded in the car, and 5G coverage rollout will become ubiquitous. This game-changing concept is called as “Connected Car”, where the car is suitably defined as a vehicle using mechatronics, telematics and artificial intelligence technologies to interact with the environment. This provides greater safety, comfort, entertainment and, importantly a connected life experience. Rising demand for Vehicle Management, Advanced Driver Assistance Systems and fleet management is projected to drive market growth. Over the last few years, automotive electronics and wireless technologies have grown by leaps and bounds. Advancement in these technologies combined with device convergence and changing lifestyle demands are enabling the automobile to extend the driving experience beyond traditional vehicle transport. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Connected-Car-Device-Market-Research-510775

Key takeaways:

1. The Global OEMs have rapidly boosted innovation in the area of safety. The finding stated, the number of accident prevention technology has increased by more than 500%, and Advanced Driver Assistance System (ADAS) innovation by 400%, over the eight years. The first benefit is driving getting safer, with active collision warning technology recognize pedestrian and active cross traffic assistant systems that can prevent very serious accidents. With V2V (vehicle-to-vehicle) communication becoming a reality, Diamler’s new Mercedes E-Class, is an example.

2. Second factor is driving is getting more convenient, due to improved human-machine interfaces can now use natural language processing to control many of car’s functions, and further advances in ADAS will continue to make driving easier. For example, BMW 7 Series offers the garage parking assistant, and Tesla recently introduced its Summon feature. Mostly the continuous advances in autonomous driving is essentially expected by car manufactures and players like Google and Tesla.

3. The current development process for security software involves binding it to the car’s hardware. As a result, updating the software will set to support functions, including risk management, progress monitoring and reporting, and incident management, all of these must also be put in place if the software development effort is to succeed.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=510775

Segmental Analysis:

1. The Connected Car Devices Market is segmented into 3G, 4G, 5G, Wifi, Bluetooth and DSRC technology. DSRC Technology is a fast growing market showcasing growth of 18.6% through 2026. Among all, these 4G technology is witnessing the high demand on account of it being the fastest connectivity technology.

2. The OEM segment dominates the market with share of 78% in 2020. Today, nearly 70 percent of the inclusive connected services sales come from superior brands such as General Motors Co., Bavarian Motor Works (BMW), Audi AG, Honda Motors Co. Ltd., Fiat Automobiles and others.

3. The Asia-Pacific region indicated a prominent growth at 16.9% through 2026 and keep its market-leading position over the forecast period. In the years to come, APAC should be eminent in automobile market.

Competitive Landscape:

The top 5 players in the Connected Car Device industry are –

1. General Motors Co.

2. Bavarian Motor Works (BMW) AG

3. Audi AG

4. Bosch (Germany)

5. Denso (Japan)

Click on the following link to buy the Connected Car Device Market Report:
https://www.industryarc.com/reports/request-quote?id=510775

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Connected Car M2M Connections And Service Market
https://www.industryarc.com/Research/Connected-Car-M2M-Connections-And-Service-Market-Research-512827

B. Connected Truck Market
https://www.industryarc.com/Research/Connected-Truck-Market-Research-501118

Contact Us:
Mr. Venkat Reddy
IndustryARC
Email: venkat@industryarc.com, sales@industryarc.com
USA: (+1) 970-236-3677, (+1) 815-656-4596
IND: (+91) 40-485-49062

Venkat Reddy
IndustryARC
+1 614-588-8538
venkat@industryarc.com
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