Global Connected Cars Market Trends And Strategies Of Major Players In The Connected Cars Market 2021-2030
27 Aug, 2021
The connected cars market consists of sales of connected cars and related services. Connected cars are cars empowered with internet access and local area network which helps to communicate with other vehicles. These cars have wide range of sensors that transmits and receives signals by the manufacturers in conjunction with the services to enhance consumer experience with the real time interaction of the vehicles. These cars can be connected with smartphones or other mobile phones and allows the driver to mechanically monitor the performance of the car.
Global Connected Cars Market Size And Drivers:
The global connected cars market is expected grow from $65.94 billion in 2020 to $78.19 billion in 2021 at a compound annual growth rate (CAGR) of 18.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $142.22 billion in 2025 at a CAGR of 16%. Increase in efforts by governments for developing intelligent transportation system will drive of the connected cars market.
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Trends In The Global Connected Cars Market
Connected car companies are increasingly developing new technologies such as digital and autonomous technologies in order to increase their revenue and also for gaining a competitive edge over their rivals.
Global Connected Cars Market Segments:
The global connected cars market is further segmented based on product type, services, application and geography.
By Product Type: Embedded, Tethered, Integrated, Others
By Services: Driver Assistance, Safety, Entertainment, Well-Being, Vehicle Management, Mobility Management, Others
By Application: Navigation, Infotainment, Telematics
By Geography: The global connected cars market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Connected Cars Market At:https://www.thebusinessresearchcompany.com/report/connected-cars-market-global-report-2020-30-covid-19-growth-and-change
Connected Cars Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides connected cars market overviews, analyzes and forecasts market size and growth for the global connected cars market, connected cars market share, connected cars market players, connected cars market segments and geographies, connected cars market’s leading competitors’ revenues, profiles and market shares. The connected cars market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.