The global automotive connectivity market size is projected to register at a moderate-paced CAGR of 19% over the forecast period. The automotive connectivity market is currently valued at US$ 33.42 Billion in 2023. By 2033, demand for automotive connectivity is expected to reach a high of US$ 190.29 Billion
The adoption of stringent safety regulations, the growing appeal of high-end luxury automobiles, the arrival of 5G infrastructure, driverless cars, and the expanding use of integrated connectivity are all expected to increase the need for automotive connectivity.
Key Takeaways
- Market analysts believe that the driver assistance subsector would grow at the highest rate during the next few years.
- During the foreseen time frame, the 5G sub segment is expected to generate the most revenue. In order to improve the connectivity between vehicles and external devices, several telecommunications firms are working on the next-generation 5G networks.
- The automotive connectivitymarket is predicted to improve as a result of a rise in demand for lightweight suspension systems and the development of innovative suspension systems.
- Automotive manufacturer partnerships that showcase the benefits of connected parking are likely to accelerate its widespread adoption.
Discover the market trends and expansion opportunities as you explore the future of automotive connectivity with our sample report! Right Now:
https://www.futuremarketinsights.com/reports/sample/rep-gb-15903
Connected Car Industry is headed by the Installation of Cybersecurity Systems
The rising integration of cybersecurity solutions into car safety systems is a significant development in the market for connection in the automotive industry. Data is now more crucial than ever in the automotive industry. In a “connected” car, the infotainment system and the user’s smartphone are connected. Users’ data, which includes both financial and personal information, is easily accessible to hackers. Two of the most recognisable names in technology, Google and Apple, are developing cybersecurity software for automobiles to prevent data theft. These straightforward apps monitor the security of the vehicle and notify the owner if an unauthorised user attempts to log in using a different device. For instance, DENSO and Dellfer worked together to develop the Zero Day Guard 1.0.
Competitive Landscape
The leading companies in the automotive connection industry are Continental AG, Robert Bosch GmbH, Harman International Industries, Inc., DENSO Corporation, Airbiquity Inc., and Visteon Corporation.In growing economies like China, India, etc., where original equipment manufacturers (OEMs) have started incorporating such technology in their newest models, connected features of automobiles are anticipated to become widespread during the projection period.
Recent changes in the market for automobile connection include:
The London Electric Vehicle Company (LEVC) and Geotab, a pioneer in the Internet of Things and linked transport, announced a new deal in May 2022 to equip Geotab’s cutting-edge fleet management technology with LEVC’s electric TX taxi and VN5 van.
In August 2021, Mahindra & Mahindra and Robert Bosch GmbH merged to build a platform for connected cars. The logistics connectivity platform will benefit from the growth and improvement of this relationship.
In February 2021, Ford Motor Company and Google reached an agreement to strategically work together on the creation of new software for vehicle connection services. The connected car division of Ford Motor Company will profit from this arrangement.
Keep Up with Customized Insights – Send a custom automotive connectivity report request now! Discover New Growth Prospects
https://www.futuremarketinsights.com/customization-available/rep-gb-15903
Key Segments in the Automotive connectivity Market
Technology:
- 3G
- 4G/LTE
- 5G
Connectivity:
- Integrated
- Embedded
- Tethered
End-Users:
- Original Equipment Manufacturer (OEMs)
- Aftermarket
Consult with our analysts today for specialised solutions as you unlock insights into market segments for automotive connectivity! Query Now:
https://www.futuremarketinsights.com/ask-question/rep-gb-15993
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs