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IMARC Group's report titled“ Vietnam Connected Car Market Report by Technology (3G, 4G/LTE, 5G), Connectivity Solution (Integrated, Embedded, Tethered), Service (Driver Assistance, Safety, Entertainment, Vehicle Management, Mobility Management, and Others), End Market (Original Equipment Manufacturer (OEMs), Aftermarket), and Region 2024-2032 “. The Vietnam connected car market size is projected to exhibit a growth rate (CAGR) of 15.40% during
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Factors Affecting the Growth of the Vietnam Connected Car Industry:
Government Initiatives and Regulations :
The governing authorities of Vietnam are undertaking numerous steps to promote the adoption of connected cars and ensure road safety. They are also implementing stringent regulations for the inclusion of features like global positioning systems (GPS) and vehicle tracking systems in cars, making it easier for authorities to monitor traffic and enhance overall safety on the roads. These government initiatives are encouraging automakers and consumers to embrace connected car technology. GPS and tracking systems enable real-time monitoring of vehicle locations and movements. This data facilitates traffic management and allows authorities to identify and alleviate congestion, reroute traffic, and respond quickly to accidents or emergencies.
Electric and Hybrid Vehicles :
The rising preferences of individuals in Vietnam for hybrid and electric vehicles (H/EVs) are influencing the market positively. These vehicles often come equipped with advanced connectivity features, making them attractive choices for tech-savvy consumers who want both sustainability and connectivity in their cars. H/EVs typically offer real-time data on energy consumption, charging status, and range estimation. This information empowers drivers to make informed decisions about their driving habits and charging needs. Moreover, several H/EV manufacturers are providing dedicated mobile apps that allow users to remotely monitor and control their vehicles.
The increasing integration of the Internet of Things (IoT) in the automotive sector is creating a positive outlook for the market. Connected cars can sync with smartphones through Bluetooth or other wireless technologies. This integration allows drivers to access the phone features, such as making calls, sending messages, and streaming music, hands-free. Voice recognition and touch-screen interfaces further enhance the user experience by ensuring that drivers remain focused on the road. In addition, IoT-enabled connected cars can communicate with nearby vehicles to detect potential collisions and take preventive measures, such as automatic braking or lane steering.
Vietnam Connected Car Market Report Segmentation:
Based on the technology, the market has been classified into 3G, 4G/LTE, and 5G.
By Connectivity Solutions:
Integrated Embedded Tethered
On the basis of the connectivity solutions, the market has been segmented into integrated, embedded, and tethered.
Driver Assistance Safety Entertainment Vehicle Management Mobility Management Others
Based on the service, the market has been segregated into driver assistance, safety, entertainment, vehicle management, mobility management, and others.
By End Market:
Original Equipment Manufacturer (OEMs) Aftermarket
On the basis of end market, the market has been divided into original equipment manufacturer (OEMs) and aftermarket.
Northern Vietnam Central Vietnam Southern Vietnam
Region wise, the market has been classified into Northern Vietnam, Central Vietnam, and Southern Vietnam.
Vietnam Connected Car Market Trends:
The increasing income levels of individuals in Vietnam are creating a positive outlook for the market. Additionally, with more purchasing power, individuals are more inclined to invest in vehicles equipped with advanced connectivity features, such as navigation systems, entertainment systems, and real-time data access.
Rapid urbanization, coupled with the development of smart cities in Vietnam, is offering a favorable market outlook. The increasing adoption of connected car technology in urban centers for improving transportation efficiency, reducing traffic congestion, and minimizing environmental impact is driving the market.
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