Connected Car Market Share
Segmentation Analysis:
Insights by Technology
The 5G segment accounted the largest market share over the forecast period 2024 to 2033. The experience of in-car entertainment and infotainment is improved with 5G connectivity. It offers access to cloud-based services, high-quality media streaming, and seamless interaction with smartphones and smart home appliances. While travelling, passengers can take advantage of connected applications such as streaming HD film and music.
Insights by Connectivity
The integrated technology segment is expected the dominate the market over the forecast period 2024 to 2033. The development and execution of ADAS features in connected cars heavily rely on integrated technology. To aid drivers and improve safety, ADAS uses a combination of sensors, cameras, radar, and AI algorithms. These parts can be seamlessly integrated thanks to integrated technology, which makes it possible to use features like automated emergency braking, lane-keeping assistance, and adaptive cruise control.
Insights by Application
Driver assistance segment holds the significant market share over the forecast period 2024 to 2033. With automobile manufacturers and technology firms investing in R&D to improve current ADAS capabilities and add new functionality, the driver assistance segment is constantly evolving. This involves enhancing item recognition, pedestrian detection, and prediction capabilities through the use of AI and machine learning algorithms.
Insights by Distribution Channel
OEM segment is witnessing the fastest market growth between the forecast period 2024 to 2033. To meet the increased demand for connected cars, automotive OEMs are increasing their footprint in a number of markets and geographic areas. This involves expanding into developing nations where urbanisation, rising disposable incomes, and a growing need for cutting-edge automotive technologies are all factors.
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Competitive Landscape:
Major players in the market
- Bosch
- Continental AG
- Delphi Technologies PLC
- DENSO Corporation
- Harman International Industries, Inc.
- Infineon Technologies AG
- NXP Semiconductors N.V.
- Toyota Motor Corporation
- Valeo
- ZF Friedrichshafen AG
- BorgWarner
Recent Industry Developments
- In February 2022, HARMAN has made an announcement about the launch of HARMAN Savari MECWAVE which is an Ultra Low Latency Edge Based Platform for Turn Key Connectivity.
- In June 2020, Bosch has launched its new MEMS sensor named SMI230 which provides trouble-free navigation.
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