Global Connected Car market Size is Expected to Reach $225,158.0 Million by 2025 at CAGR of 17.1% Between 2019 and 2025 | Valuates Reports

The Global Connected Car Market size is valued at $63,026.0 million in 2017, and is projected to reach $225,158.0 million by 2025, registering a CAGR of 17.1% from 2018 to 2025

BANGALORE, India, Nov. 12, 2019 /PRNewswire/ -- Global Connected Car Market Analysis

Over time, car manufacturers and service providers have developed a range of networking solutions, such as the Machine-to-Machine (M2M) network. Connected car, together with powerful network technology, enables wheel connectivity offering comfort, convenience, efficiency, safety and security. It helps the driver to connect to online platforms, making real-time interaction easier.

Automotive manufacturers are increasingly focused on providing connectivity solutions in their vehicles to improve their car sales due to increased connectivity requirements. In addition, growing customer desire to stay connected to the outside world while driving drives the adoption of connected cars around the globe. Furthermore, integrating connectivity solutions in the vehicle has become the top most priority for automobile manufacturers, as consumers are expecting their vehicles to perform tasks similar to computers and smartphones.

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It is expected that the introduction of advance diagnostic technology would improve the demand for connected vehicles. The system in the car will deliver vehicle data to both the automotive dealer and the customer in advanced diagnostics, which will help predict potential automotive problems before they occur.

In addition, it is predicted that the increase in the trend of connectivity solutions and vehicle diagnosis would fuel market growth. Increasing the need for safety and security also drives the growth of the sector. Nonetheless, the critical factors that hinder this market's growth are the risk of information theft, high installation costs, and unavailability of uninterrupted & seamless connectivity.

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Trends Affecting Connected Car Market Share

• Rise in consumer demand for connectivity solutions
• Surge in need for constant connectivity
• Increase in dependency on technology
• Upsurge in tech-savvy population are the key factors that contribute toward the growth of the global connected car market

Region Wise Analysis Of Connected Car Market