Connected Car Devices Market Size, Share, Industry Trends and Forecast to 2030

1. What is the Market Size & CAGR of Connected Car Devices market in 2021?

The global connected car devices market had a market size of USD 58.4 billion in 2021. With a compound annual growth rate (CAGR) of 14.6%, the market is expected to reach USD 127.3 billion by 2028.

2. COVID-19 Impact on the Connected Car Devices Market

The COVID-19 pandemic significantly impacted the connected car devices market in 2020 and 2021. As lockdowns and restrictions were implemented globally, the demand for connected car devices decreased. However, as restrictions eased, there was a surge in demand for such devices due to the need for contactless services and improved connectivity.

3. Connected Car Devices Dynamics

The dynamics of the connected car devices market are influenced by technological advancements, changing consumer preferences, government regulations, and partnerships between automotive manufacturers and technology companies. With the rise of electric vehicles and autonomous driving technology, the demand for connected car devices is expected to increase even further.

4. Segments and Related Analysis

The connected car devices market can be segmented based on the type of device, connectivity (3G, 4G, 5G), application (infotainment, navigation, telematics), and region. Each segment has its own growth opportunities and challenges, contributing to the overall market dynamics.

5. By Region Analysis

The connected car devices market is analyzed by region, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has its own market size, growth rate, and key players driving the market forward.

6. Key Market Players and Competitive Landscape

The key market players in the connected car devices market include Bosch, Continental, Denso, Pioneer, and Harman International. These companies are leading the market through innovative products, strategic partnerships, and acquisitions to maintain their competitive edge.

7. Recent happenings in the Connected Car Devices Market

In recent developments, Bosch launched a new connected car device that allows for real-time vehicle diagnostics and remote control features. Continental partnered with a leading technology company to enhance its telematics solutions for connected vehicles. These developments showcase the ongoing innovation and collaboration in the connected car devices market.