The connected car devices market is expected to see significant growth in the coming years, driven by the increasing demand for advanced safety and convenience features in vehicles. The market is characterized by a high level of competition, with a range of companies offering a variety of connected car devices. The market is also seeing a growing focus on the development of autonomous vehicles, which are expected to drive further growth in the market.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

• The global connected car devices market is expected to grow at a CAGR of over 15% during the forecast period.
• The increasing demand for advanced safety and convenience features in vehicles is expected to drive growth in the market.
• North America is expected to be the largest market for connected car devices, followed by Europe and Asia Pacific.
• The market is characterized by a high level of competition, with a range of companies offering a variety of connected car devices.

Market Drivers

The connected car devices market is being driven by a range of factors, including:

• Increasing demand for advanced safety features: Drivers are increasingly looking for vehicles that offer advanced safety features, such as collision avoidance and adaptive cruise control. Connected car devices can enable these features and help improve overall vehicle safety.
• Growing popularity of autonomous vehicles: Autonomous vehicles are expected to become increasingly common in the coming years, driving further growth in the connected car devices market.
• Increasing demand for convenience features: Connected car devices can offer a range of convenience features, such as GPS navigation and infotainment systems, which are becoming increasingly popular among drivers.
• Growing demand for telematics: Telematics systems, which enable vehicles to connect to the internet and other devices, are becoming increasingly important in the automotive industry. These systems can provide a range of benefits, including remote vehicle diagnostics and real-time traffic updates.

Market Restraints

Despite the growing demand for connected car devices, there are also a number of factors that could restrain market growth, including:

• High cost: Connected car devices can be expensive, which could limit their adoption among some drivers.
• Security concerns: As connected car devices become increasingly common, there are growing concerns about the security of these devices and the potential for hacking or cyberattacks.
• Limited infrastructure: In some regions, the infrastructure necessary to support connected car devices may be limited, which could limit their adoption.

Market Opportunities

There are a range of opportunities in the connected car devices market, including:

• Growing demand for electric vehicles: Electric vehicles are becoming increasingly popular, and connected car devices can help enhance the driving experience for these vehicles.
• Expansion into emerging markets: As the automotive industry continues to expand into emerging markets, there will be growing opportunities for connected car devices.
• Development of new technologies: The development of new technologies, such as 5G networks and artificial intelligence, could provide new opportunities for the connected car devices market.

Market Dynamics

• Supply Side Factors: Strategic partnerships between chipset vendors, module manufacturers, and OEMs streamline integration and lower unit costs.

• Demand Side Factors: Automotive procurement cycles and consumer refresh rates shape hardware upgrade cadences, particularly in premium segments.

• Economic Factors: Component shortages and inflationary pressures intermittently affect device lead times and pricing.

Regional Analysis

The connected car devices market is expected to see strong growth in North America, Europe, and Asia Pacific. North America is expected to be the largest market for connected car devices, driven by the high demand for advanced safety and convenience features in vehicles. Europe is also expected to see significant growth in the market, driven by the increasing popularity of electric vehicles and the development of new technologies. Asia Pacific is expected to be the fastest-growing market for connected car devices, driven by the growing demand for advanced safety features and the expansion of the automotive industry in the region.

Competitive Landscape

Leading Companies in the Connected Car Devices Market:

1. Robert Bosch GmbH
2. Continental AG
3. Denso Corporation
4. Valeo SA
5. Harman International Industries, Inc. (Samsung Electronics Co., Ltd.)
6. Aptiv PLC
7. Visteon Corporation
8. Delphi Technologies
9. Panasonic Corporation
10. Garmin Ltd.

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The connected car devices market can be segmented based on device type, communication type, application, and region. By device type, the market can be segmented into infotainment systems, navigation systems, telematics systems, and others. By communication type, the market can be segmented into vehicle-to-vehicle communication, vehicle-to-infrastructure communication, and others. By application, the market can be segmented into safety and security, convenience, and others.

Category-wise Insights

Infotainment systems are expected to be the largest segment of the connected car devices market, driven by the increasing demand for in-car entertainment and connectivity. Telematics systems are also expected to see strong growth, driven by the growing popularity of remote vehicle diagnostics and real-time traffic updates. Safety and security applications are expected to be the largest application segment of the market, driven by the increasing demand for advanced safety features in vehicles.

Key Benefits for Industry Participants and Stakeholders

The connected car devices market offers a range of benefits for industry participants and stakeholders, including:

• Increased safety: Connected car devices can help improve overall vehicle safety by enabling advanced safety features such as collision avoidance and adaptive cruise control.
• Improved convenience: Connected car devices can offer a range of convenience features, such as GPS navigation and infotainment systems, which can enhance the driving experience for drivers and passengers.
• Improved efficiency: Telematics systems can help improve vehicle efficiency by providing real-time data on vehicle performance and maintenance needs.
• New revenue streams: The development of new connected car devices can provide new revenue streams for companies in the automotive industry.

SWOT Analysis

Strengths:

• High demand for advanced safety and convenience features in vehicles
• Growing popularity of electric vehicles and autonomous vehicles
• Strong competition among companies in the market

Weaknesses:

• High cost of connected car devices
• Security concerns related to connected car devices
• Limited infrastructure in some regions

Opportunities:

• Expansion into emerging markets
• Development of new technologies such as 5G networks and artificial intelligence
• Growing demand for telematics systems

Threats:

• Competition from established companies in the market
• Potential for regulatory hurdles and legal challenges
• Economic instability and uncertainty

Market Key Trends

Some of the key trends in the connected car devices market include:

• Growing focus on autonomous vehicles: The development of autonomous vehicles is expected to drive significant growth in the connected car devices market, as these vehicles require a range of advanced sensors and communication technologies.
• Increasing demand for advanced safety features: The demand for advanced safety features, such as collision avoidance and lane departure warning systems, is driving significant growth in the market.
• Growing popularity of electric vehicles: The growing popularity of electric vehicles is driving demand for connected car devices that can enhance the driving experience for these vehicles.

The Covid-19 pandemic has had a significant impact on the automotive industry, including the connected car devices market. The pandemic has led to a decrease in consumer spending and a slowdown in automotive production, which has affected the demand for connected car devices. However, the pandemic has also highlighted the importance of connected car devices in enabling remote vehicle diagnostics and other features, which could drive further growth in the market in the post-pandemic period.

Key Industry Developments

Some of the key developments in the connected car devices market include:

• Launch of new connected car devices: Companies in the market are launching new connected car devices, such as advanced infotainment systems and telematics systems, to meet the growing demand for these products.
• Development of new technologies: The market is seeing the development of new technologies such as 5G networks and artificial intelligence, which could enable new connected car devices and applications.
• Partnerships and collaborations: Companies in the market are forming partnerships and collaborations to develop new connected car devices and stay ahead of the competition.

Analyst Suggestions

Analysts suggest that companies in the connected car devices market should focus on developing innovative new products and technologies to stay ahead of the competition. They also recommend that companies should invest in research and development to stay up to date with the latest industry trends and technologies.

Future Outlook

The connected car devices market is expected to see strong growth in the coming years, driven by the increasing demand for advanced safety and convenience features in vehicles. The market is also expected to see significant growth in emerging markets, as the automotive industry continues to expand into these regions. The development of new technologies, such as 5G networks and artificial intelligence, is expected to drive further growth in the market, enabling new connected car devices and applications.

Conclusion

In conclusion, the connected car devices market is an important part of the automotive industry, offering a range of benefits to drivers and passengers. The market is expected to see strong growth in the coming years, driven by the increasing demand for advanced safety and convenience features in vehicles. Companies in the market are investing heavily in research and development to stay ahead of the competition and develop new connected car devices and technologies.

The development of new technologies such as 5G networks and artificial intelligence is expected to provide further opportunities for growth in the market.