By the end of 2021, the europe connected cars market generated US$10.2 billion. The Europe connected cars market is predicted to reach US$ 49.7 billion by 2032, growing at a CAGR of 15.6% between 2022 and 2032.
Connected vehicles enable drivers to maintain a safe distance from other vehicles on the road and allow for the usage of all linked devices inside and outside of a car. The driver can also mechanically inspect the cars’ physical state and operational efficiency. Through connected autonomous driving, smartphones and other mobile devices can be connected to automobiles.
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2017-2021 Europe Connected Cars Market Demand Outlook Compared to 2022-2032 Forecast
For the projection period, a CAGR of 15.6% is predicted for the European connected car market.
There is a growing desire for linked driving experiences. Automakers, OEMs, and other parties are collaborating to integrate related automotive technologies. Safety-related legislative initiatives will have a substantial impact on the adoption of OEM technology in Europe. The increased desire for electric vehicles among European consumers will determine how quickly the market for connected cars grows. It is anticipated that the industry would grow as a result of the increased use of wireless and mobile technology.
5G Is Critical to The Growth of the Connected Car Market
The launch of 5G-capable automobiles will be a significant development for the connected car market throughout the forecast period. Technology has made it possible for drivers to communicate clearly with one another.
Fifth-generation wireless technology is expected to connect everything around us via an exceptionally rapid and responsive network. The Internet of Things (IoT), virtual reality (VR), and artificial intelligence (AI) will all gain from 5G. As a result, businesses are focusing on the adoption and development of 5G in connected cars. It manages the vehicle’s speed with a smart motor. Numerous 5G network applications in autos demonstrate the escalating need for the connected car sector. In addition, new possibilities for IoT in vehicles as a technology for autonomous driving and vehicle security have developed with connected cars.
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Competitive Landscape
The European connected car market is somewhat consolidated, with participants like Denso Corporation, Continental AG, Autoliv, Robert Bosch GmbH, Harman International, and Delphi Automotive LLP. Manufacturers of connected cars are creating new goods with cutting-edge technology as the need for linked systems in the industry grows in an effort to get an advantage over their competitors. Businesses are focusing on the implementation and development of 5G in automobiles as a result to gain a competitive edge over other market players.
- Harman and Amazon announced their partnership in May 2022 in an effort to develop trustworthy and safe connected vehicle solutions. These cutting-edge software-defined vehicles will help OEMs address a variety of dependability and safety concerns.
- As part of its new mobility-centered society, Denso Corporation launched a software innovation project in March 2022. The training programme included optional exercises to teach engineers about ADAS visual sensor recognition technology as well as cloud computing.
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Europe Connected Cars Market by Category
By Communication Type:
- Vehicle-To-Vehicle (V2V)
- Vehicle-To-Infrastructure (V2I)
- Vehicle-To-Pedestrian (V2P)
- Others
By Connectivity Technology:
- 3G
- 4G LTE
- 5G
- Others
By Application:
- Driver Assistance
- Infotainment
- Vehicle Safety & Security
- Telematics & Navigation
- Others
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
By End User:
- Automotive OEMs
- Automotive Aftermarket
By Country :
- UK
- Germany
- France
- Spain
- Italy
- Benelux
- Russia
- Rest of Europe
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