Connected Car Market

The connected car market is estimated to grow from USD 12.4 billion in 2024 to USD 26.4 billion by 2030 at a CAGR of 13.3% during the forecast period. The connected car market is experiencing exponential growth, driven by various factors. Due to rising demand for safety and security features as well as connection solutions and services, the market is anticipated to rise rapidly. The connected car market is anticipated to grow during the projected period due to factors such as increased internet penetration and the incorporation of driver-assist technology in automobiles.

The connected car market is a competitive market where the top 5 players contribute 40%-45%. Continental AG (Germany), Robert Bosch GmbH (Germany), Harman International (US), Airbiquity Inc (US), and Visteon (US) are the prominent players in the connected car market.

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Continental AG, a prominent automotive technology company, has secured the highest market share in connected car technologies due to its extensive solutions encompassing connectivity, cybersecurity, high-performance computing, and V2X communication technologies. With a substantial research and development investment boasting over 21,000 software and IT specialists globally, Continental has allocated significant resources, investing over USD 2.89 billion in R&D in 2023. Their pioneering work developing crucial connected car technologies such as high-performance computers, zone control units, and cloud-based software solutions has positioned them as industry leaders. Continental ensures seamless integration and interoperability by fostering partnerships across the automotive ecosystem, collaborating closely with automakers and suppliers, and actively contributing to developing industry standards for technologies like 5G and Bluetooth, solidifying its dominance in the connected car market.

Robert Bosch GmbH stands out as a prominent key player in the connected car market due to its comprehensive suite of connected car technologies, which includes sensors, software, and cloud-based solutions. The company's strong presence and expertise in developing advanced technologies for connected vehicles have positioned it as a leading innovator in the industry. Additionally, Bosch's strategic partnerships and collaborations with other industry players have further enhanced its market position, enabling the company to offer integrated solutions that cater to the increasing demand for connectivity and innovative features in modern vehicles. Moreover, the company actively participates in technical events and conferences to showcase its products related to connected vehicles. It has solidified its status as a go-to provider for connected car technologies. By consistently pushing the boundaries of innovation and adapting to the dynamic landscape of the automotive industry, Bosch has established itself as a key player driving the advancement of connected car technologies globally.

Harman International is one of the top key players in the connected car market due to its comprehensive suite of connected car technologies, including sensors, software, and cloud-based solutions. The company's strong presence and expertise in developing advanced technologies for connected vehicles have positioned it as a leading innovator in the industry. Harman's commitment to innovation and continuous development of cutting-edge solutions tailored to the evolving needs of the automotive sector has contributed significantly to its prominence in the connected car market. Harman's vision for the 5G automotive experience is to leverage 5G networks to develop advanced, real-time, in-car solutions that bring information into vehicles. The company's recent launch of HARMAN Savari MECWAVE, an industry-first multi-access edge compute platform, enables automakers and mobile network operators to harness V2X communications and edge technologies to offer increased insight, safety, and connectivity for drivers. This platform is designed to support the development of advanced, in-car solutions that can bring information into vehicles in real time, further solidifying Harman's position as a critical player in the connected car market.

Visteon develops innovative connected infotainment systems in the connected car market. The company offers a range of solutions that cater to the evolving needs of consumers, including HTML5 and Android-based connected infotainment platforms that provide seamless connectivity with iOS and Android smartphones through CarPlay and Android Auto technologies. Visteon's RACE smartphone connectivity solution from AllGo, a subsidiary of Visteon, provides leading smartphone connectivity and multimedia technologies, ensuring that its infotainment systems meet the demands of today's consumers for multimedia playback capabilities and smartphone integration. Also, Visteon's commitment to innovation is further evident in its white-labeled Android app store, which allows car manufacturers to offer their app store to recommend, sell, and distribute apps for their Android-based connected infotainment systems. This integrated approach enables Visteon to provide a comprehensive connected car experience that is both user-friendly and technologically advanced. The company's focus on safety, performance, and efficiency in its connected car solutions has solidified its position as a leading innovator, making it one of the most prominent key players in the connected car market.

Airbiquity has expertise in connected vehicle services and developing and engineering automotive telematics software technology. The company's focus on providing innovative solutions for the automotive industry has enabled it to establish a strong presence in the market, catering to the growing demand for connected car technologies. Airbiquity's prominence in the connected car market is further underscored by its partnerships and investments in the sector. For instance, In September 2023, Airbiquity partnered strategically with Tessolve, a prominent hardware and software engineering services company. This collaboration aims to provide industry-leading connected vehicle solutions, including Telematics Gateways, Over-The-Air (OTA) updates, and Data Logging capabilities. By combining their expertise and technologies, Airbiquity and Tessolve seek to transform the automotive landscape, enhancing connectivity, enabling real-time updates, and facilitating predictive maintenance for connected vehicles. This partnership is expected to pave the way for developing and producing advanced, safer, and more innovative mobility solutions, further solidifying Airbiquity's position as a global leader in connected vehicle services.

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Connected Car Market by Service ICE & EV (OTA, Navigation, Multimedia Streaming, Social Media, eCall, Autopilot, Remote Diagnostics, Home Integration), Market (OEM, Aftermarket), Network, Form, Transponder, Hardware and Region - Global Forecast to 2030

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