Global Internet of Things (IoT) Connected Cars Market

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Global Internet of Things (IoT) Connected Cars Market is forecasted to reach US$ 220 Bn in 2024 at a CAGR rate of 14.8% with 2016 as a base year.Global Internet of Things (IoT) Connected Cars MarketGlobal Internet of Things (IoT) Connected Cars Market is segmented into the application, communication type, services, hardware, network, and region. On the basis of application, a market is segmented into Telematics, Infotainment. Based on the communication type market is divided into Vehicle to Vehicle (V2V), Vehicle to Infrastructure (V2I), Vehicle to Home (V2H). According to the services, a market is classified into Connected Services, Safety & Security, and Autonomous Driving. On the basis of the hardware market is segmented by Smart Antenna, Display, Electronic Control Unit (ECU), Sensors. According to network market is divided into Dedicated Short Range Communication, Cellular Network/Wi-Fi. Geographically market is spread by North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.

A connected smart car comes as a revolutionary way to drive and stay in touch with the world around at the same time. The connected car features divided into several categories, safety, navigation, infotainment, diagnostics, and payments.

Importantly, the report delivers forecasts of the market, giving an insight into the future opportunities that exist in the Global Internet of Things (IoT) Connected Cars Market. The driving forces, as well as considerable restraints, have been explained in depth. Report segments Global Internet of Things (IoT) Connected Cars Market by Application, Communication Type, Services, Hardware, Network, and Regions, providing the comprehensive analysis of ecosystem of industry, which will be useful to make the informed strategic decision to the stakeholders in the industry.

Vehicle to Everything (V2X) is an integral part of IoT technology which has been instrumental in the advent of Connected Car phenomena. V2X is a communication functionality that enables a vehicle to pass the required information to any entity that may affect the vehicle, and vice versa. V2X system may be further subdivided into Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Device (V2D) and Vehicle-to-Grid (V2G). Hence it does not require any infrastructure for vehicles to communicate, which is key to assure safety in remote or little-developed areas.

The Asia Pacific is expected to account for the largest market share, followed by Europe, North America, and RoW. The Asia Pacific is anticipated to remain predominant during the forecast period due to various factors, such as increasing connected car devices in passenger cars an increase in digital services such as cybersecurity and updates. In terms of growth rate, North America is projected to exhibit the second highest CAGR during the forecast period. The growth in North America is anticipated to be driven by increasing government mandates and growing communication and information technology infrastructure, such as 4G LTE or 5G.

Key players operated in the market includes Google, Inc. Tesla Motors, Inc. Audi Ag, Bmw Ag, Volvo Car Corporation, Delphi Automotive Plc, Robert Bosch Gmbh, Vodafone Group Plc., At&T, Inc., Denso Corporation, Airbiquity, Inc, Wirelesscar, Alpine Electronics, Ford Motor, Nxp Semiconductors.
The Scope of Global Internet of Things (IoT) Connected Cars Market:

Global Internet of Things (IoT) Connected Cars Market by Application:

• Telematics
• Infotainment
Global Internet of Things (IoT) Connected Cars Market by Communication Type:

• Vehicle to Vehicle (V2V)
• Vehicle to Infrastructure (V2I)
• Vehicle to Home (V2H)
Global Internet of Things (IoT) Connected Cars Market by Services:

• Connected Services
• Safety & Security
• Autonomous Driving
Global Internet of Things (IoT) Connected Cars Market by Hardware:

• Smart Antenna
• Display
• Electronic Control Unit (ECU)
• Sensors
Global Internet of Things (IoT) Connected Cars Market by Network:

• Dedicated Short Range Communication
• Cellular Network/Wi-Fi
Global Internet of Things (IoT) Connected Cars Market by Region:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East & Africa