The global connected cars market size was USD 28.50 Billion in 2022 and is expected to register a steady revenue CAGR of 18.4% during the forecast period, according to latest analysis by Emergen Research. Rapid advancements in sensing technology, rising demand for fuel efficient vehicles globally, and surge in the usage of telematics are key factors driving market revenue growth.
Some of the key factors driving the growth of the global Connected Cars market include expanding R&D efforts to develop novel Connected Cars products for a variety of applications and rising demand for mercury control technology for industrial air purification. The most recent data on the COVID-19 pandemic market condition is provided in the research. The investigation indicates that COVID-19 plays a vital role in the market’s dynamically altered environment. The study carefully investigates how the pandemic has altered market dynamics and trends while also precisely analysing how the crisis has impacted the market as a whole.
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Effect of COVID-19 on the global market for Connected Cars
The COVID-19 pandemic had a significant negative influence on the market for Connected Cars in 2020, significantly decreasing its CAGR. In 2020, manufacturers and suppliers of Connected Cars were significantly impacted by federal and national safety and legal orders. The majority of businesses have been impacted by the COVID-19 pandemic. Mandates for business closures, restricted municipal and state government office activities, and social conventions of distance had an impact on the production of Connected Cars in 2020. Additionally, demand for Connected Cars decreased across a range of end-use sectors. The pandemic epidemic also resulted in a decline in global investments in the water sector.
Connected Cars market : Competitive Landscape
The prominent players operating in the Connected Cars market are profiled in-depth in the report and their strategies, collaborations, and product innovations. The analysis of the key players and their strategies to fortify their presence in the market impart a better understanding of the competitive landscape of the Connected Cars market .
Some of the prominent players operating in the market are:
HARMAN International, Continental AG, Robert Bosch GmbH, Tesla, Visteon Corporation, AT&T Intellectual Property, Qualcomm Technologies, Inc., Sierra Wireless, Panasonic Holdings Corporation, and TomTom International BV
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The research study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.
Key questions answered in the report:
What will be the development pace of Connected Cars market ?
What are the key factors driving the Global Connected Cars market ?
Who are the key manufacturers in the market space?
What are the openings, hazards, and outline of the market?
What is sales, revenue, and price analysis of top manufacturers of Connected Cars market ?
Who are the distributors, traders, and dealers of Connected Cars market ?
What are the Connected Cars market opportunities and threats faced by the vendors in the Global Connected Cars industries?
What are deals, incomes, and value examinations by types and utilizations of the market?
What are deals, income, and value examinations by areas of enterprises?
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Segments Covered in this report are:
- Technology Outlook (Revenue, USD Billion; 2019-2032)
- 3G
- 4G
- 5G
- Connectivity Outlook (Revenue, USD Billion; 2019-2032)
- Embedded
- Integrated
- Tethered
- Hardware Outlook (Revenue, USD Billion; 2019-2032)
- Central Gateway (CGW)
- Head Unit
- Intelligent Antenna
- Electronic Control Unit (ECU)
- Telematic Control Unit (TCU)
- Sensors
- Others
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Regional Bifurcation of the Connected Cars market Includes:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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About Emergen Research
Emergen Research is a Market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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