Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Connected Cars Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
How Will the Connected Cars Market Grow Between 2024 and 2025?
The market size of connected cars has experienced rapid expansion recently. It is projected to rise from $92.59 billion in 2024 to $105.67 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 14.1%.
How Much Will the Connected Cars Market Be Worth in 2029?
The projected size for the global connected cars market in 2029 is anticipated to be $185.11 billion, growing at a compound annual growth rate (CAGR) of 15.0%.
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Which Connected Cars Market Drivers Are Linked to Revenue Growth?
The key drivers in the connected cars market are:
• Increasing global population leading to higher demand for smart mobility solutions
• Emergence and integration of new technologies such as 5G and AI in connected cars
• A rise in internet penetration and adoption of IoT, fuelling preference for in-car WiFi hotspots and data services
• Growing requirement and establishment of cybersecurity systems in connected cars to counteract cyber threats
Which Segments Are Expected to Grow in the Connected Cars Market?
The connected cars market covered in this report is segmented –
1) By Product Type: Embedded, Tethered, Integrated
2) By Application: Navigation, Infotainment, Telematics, Combination
3) By Services: Driver Assistance, Safety and Well-Being, Entertainment, Vehicle Management, Mobility Management, Other Services
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What Are The Key Trends Impacting Growth In The Global Connected Cars Market?
The key trends in the connected cars market are:
• The adoption of 5G connectivity in connected cars is a significant emerging trend.
• There is an escalating trend of integrating AI to enhance features in connected car operating systems.
• Installation of cybersecurity systems in connected cars is also an upcoming trend to mitigate the risk of cyber-attacks.
• The design of hybrid personalized in-vehicle infotainment systems for connected cars is another significant trend.
Who Are the Key Competitors in the Global Connected Cars Market?
Major players in the connected cars market are:
• Volkswagen
• Toyota Motor Corporation
• General Motors
• Daimler AG
• BMW Group
• Ford Motor Company
• Honda Motor Co Ltd
• Hyundai Motor Group
• Tesla
• Renault
• Tata Motors Limited
• Mahindra and Mahindra Ltd.
• NIO Inc.
• XPeng Inc.
• Geely Automobile Holdings Limited
• Nissan Motor Co., Ltd.
• Mitsubishi Motor Corporation
• Bavarian Motor Works AG
• Audi AG
• Fiat Chrysler Automobiles
• Delphi
• Denso
• Mercedes-Benz
• Continental
• SAIC Motor
• Dongfeng
• FAW and Chang'an
• Banma Network Technology
• ECARX Technology
• Zhidao Network Technology
• AutoAI Geely
• Beijing Automotive Group
• Brilliance Automotive
• Guangzhou Automobile Group
• Chery and Jianghuai (JAC)
• Robert Bosch GmbH
• Tomtom INC
• Oxbotica
• StreetDrone
• Flourish
• Zenzic AVs
• GAZ Group
• Yandex
• Kamaz Livemap
• Raxel Telematics
• Stellantis
• Airbiquity Inc.
• CloudMade
• Intellias Ltd.
• LUXOFT
• Qualcomm Technologies, Inc.
• Sierra Wireless
• Telefonica S.A.
• Vodafone Group Plc
• Verizon Communications
• Samsung Electronics
• AT&T
• FCA South Africa
• Jaguar Land Rover
• Suzuki Auto South Africa
Where Is the Connected Cars Market Growing Fastest Between 2025 and 2029?
Asia-Pacific was the largest region in the connected cars market share in 2024
