Connected Car Market Global Opportunities & Forecast, 2020-2027

 Global Connected Car Market

The Connected Car Market is anticipated to expand at a rate of 18.1% over the forecast period. This is due to the acceleration in urban population and the drift towards technology-guided vehicles to have a superior driving experience.

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Connected Car Market Dynamics

The accelerating incidences of vehicle embezzlement has captured the attention of car buyers towards monitoring systems to supervise their vehicles and provide prompt updates about the geographic locations. The vehicles infotainment solution helps to record the passenger’s location and travel history of the passengers which can make travel riskier. Thus, these rising incidences of car theft have stimulated the growth of the global connected car market. Further, the increasing acquisition of ADAS is anticipated to bolster the market growth. The strategic initiatives enforced by the government to develop smart transportation systems to ensure the safety of drivers and passengers have supplemented the market growth. The incorporation of sophisticated diagnostic system in the connected car to check the carbon discharge and fuel consumption by automotive in order to administer the general hearth of engine will drive the market growth. Also, the aggravating demand for enhanced user comfortability and the sudden drift towards in-vehicle connectivity solution among the required consumers have stimulated the market growth. Various leading giants are largely concentrating on the innovation of latest connecting systems which functions like tablets and smartphones has promoted the market growth. However, the breakage risk of in-connectivity solutions has restrained the market growth.

Form Segment Drivers

As per the form, the embedded form of connectivity segment is projected to experience a remarkable surge over the coming years. The augmenting demand of cloud-based services and the expedient accessibility of cost-efficient service plans will supplement the market size. In addition, the stringent norms by the government of several nations to sanction the implanted form of connectivity will drive the market growth.

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