Connected Car Market Size Set to Skyrocket by 2030

 The Connected Car Market Size is projected to reach $26.4 billion by 2030, driven by increasing demand for advanced in-car connectivity solutions and the growing adoption of smart vehicles. This rapid market growth is fueled by advancements in telematics, vehicle-to-everything (V2X) communication, and infotainment systems. As consumers demand more seamless and integrated driving experiences, automakers are increasingly incorporating connected technologies that offer real-time traffic updates, remote diagnostics, and enhanced safety features, thereby expanding the overall Connected Car Market Size.

Furthermore, the rise of autonomous driving and electric vehicles (EVs) is expected to significantly contribute to the Connected Car Market Size. Governments worldwide are supporting the development of intelligent transportation systems, which rely heavily on connected car technology to improve road safety and traffic management. Major players such as Tesla, General Motors, and BMW are continuously investing in R&D to enhance connectivity features, helping to drive growth in the connected car ecosystem and secure their positions within this expanding market.

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Cellular networks hold the fastest growing segment for the connected car market in the network segment.

Cellular connectivity, particularly 3G/4G and 5G, is being increasingly adopted by automakers for embedded and integrated connected car solutions due to several key advantages over DSRC. One of the main reasons is the ability to leverage existing cellular infrastructure, which allows automakers to utilize the already deployed network and avoid the costs of setting up dedicated DSRC hardware. This makes cellular a more cost-effective solution for connected car applications, as automakers can integrate the necessary modules into their vehicles. Another significant advantage of cellular connectivity is its improved safety and reliability. Cellular V2X (C-V2X) can provide greater capacity and lower the chance of interruptions in service, ensuring reliable communication for safety-critical applications. C-V2X also offers a more extensive communication range, enabling advanced applications like vehicle-to-home (V2H) and vehicle-to-cloud (V2C) communication. For example, Tesla has been using cellular connectivity to provide over-the-air updates and remote diagnostics for its vehicles, demonstrating the potential of cellular technology in enhancing the connected car experience.

North America is the second-largest region in the connected car market.

North America is the largest market for connected cars, driven by advanced technological infrastructure, a robust automotive industry presence, high consumer demand, and a supportive regulatory environment. Considering the vehicles sales in North America, the number of automobiles sold in the US rose from 14.4 million in 2022 to 16.1 million in 2023, in which premium automobile sales (E, F, and SUV – E) category sales went from 1.6 million in 2022 to 1.8 million in 2023, a rise of ~12.1%. Additionally, D-segment car sales in the US rose by 4% from 4.1 million units in 2022 to 1.5 million units in 2023. Improved cellular V2X systems, telematics systems, dynamic route optimisation, in-car Wi-Fi and internet access, and over-the-air software upgrades for sedans and premium vehicles are just a few of the technologies available in these high-end cars.

Key Players

Major manufacturers in the connected car market include Continental AG (Germany), Robert Bosch GmbH (Germany), Harman International (US), Airbiquity (US), and Visteon (US).

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