Connected Car Market Emerging Trend and Global Forecast to 2023

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4G/LTE technology was the largest category in the technology segment in connected car market. Much of this can be owed to the increasing demand for fast and advanced technology for the connected cars. Additionally, it allows drivers to connect and share vital information, and update emergency service provider faster as compared to other commercial technologies in the market, which is the reason why the 4G technology is expected to dominate the market during the forecast period.

In the connected car market, the embedded connectivity was the leading category in the connectivity segment in 2017. This can be attributed to its compact structure and user-friendly characteristic nature.

The navigation category dominated the application segment in the connected car market, as it held more than 40% market share in 2017. Navigation application is the most basic requirement in a connected car, which when coupled with its cost effectiveness and growing need for travelling in cities, make it the largest shareholder in the application segment.

Global connected car market is projected to reach $156.1 billion by 2023, according to P&S Intelligence.

The growth of the market is majorly driven by the stringent government norms and regulations favoring the growth of connected car technology. In addition, the rise in demand for enhanced driving experience, coupled with ramp-up in the automobile production, is expected to benefit the market during the forecast period.

Some of the major players operating in the global connected car market are Continental AG, Delphi Technologies PLC, DENSO Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, Harman International Industries Inc., Valeo SA, and Autoliv Inc.

Market Segmentation

By Products and Services

Fleet Manager
Wireless and Cellular Modules
OEM Services
Sensors
Processors
Aftermarket Services

By Technology 
4G/LTE
3G
2G

By Application 
Navigation
Infotainment
Telematics

By Connectivity 
Integrated
Embedded
Tethered


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