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What Is The Projected Market Size & Growth Rate Of The Connected Cars Market?
In the past few years, the connected cars market has experienced significant growth. From $92.59 billion in 2024, it is expected to expand to $105.67 billion in 2025, with a compound annual growth rate (CAGR) of 14.1%. The historic period's growth can be associated with emerging markets, rising demand for greater user comfort, safety, and convenience, and the escalating incidents of vehicle theft in the connected cars sector.

The market for connected cars is poised for swift expansion in the coming years, with its valuation projected to reach $185.11 billion by 2029 with a CAGR of 15.0%. The anticipated upswing during the forecast period is attributable to several factors: an increasing global population, the advent of technologies like 5G and AI, growing internet access, the rise of IoT, a growing preference for in-vehicle wi-fi and data service solutions, and an escalating demand for intelligent mobility solutions. Noteworthy trends expected during this period include the incorporation of 5G connectivity into connected cars, AI integration to enhance connected car operating system features, the installation of cybersecurity systems to mitigate the risk of digital threats, and the creation of hybrid personalized in-vehicle infotainment systems for connected cars.

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What Is The Crucial Factor Driving The Global Connected Cars Market?
The advancement of intelligent transportation systems, fueled by governmental efforts, is projected to propel the connected car market. During this timeframe, the connected car market saw substantial growth, largely due to government-driven initiatives for the creation of connected and autonomous vehicles. The UK government, in particular, played a significant role in connected cars' evolution, investing £40 million (US$50 million) to initiate commercial autonomous vehicle services like passenger shuttles and delivery vehicles. Continuous trials alongside the enactment of new laws encourage the widespread application of connected cars. By 2030, the aspect of connected and autonomous vehicles is anticipated to potentially bestow an estimated £62 billion ($74.36 billion) in economic gains to the UK.

Who Are The Emerging Players In The Connected Cars Market?
Major players in the Connected Cars include:

. Volkswagen
. Toyota Motor Corporation
. General Motors
. Daimler AG
. BMW Group
. Ford Motor Company
. Honda Motor Co Ltd
. Hyundai Motor Group
. Tesla
. Renault

What Are The Main Trends, Positively Impacting The Growth Of Connected Cars Market?
In a bid to bolster their earnings and outdo their competitors, companies in the connected car space are progressively creating innovative technologies, such as autonomous vehicle map software. As an illustration, in 2022, the U.S. tech firm NVIDIA Corporation unveiled a new autonomous vehicles map software called DRIVE Map. This cutting-edge multi-modal mapping engine is designed to hasten the roll-out of Level-3 and Level-4 autonomous vehicles, which can function without the need for human input. After buying out HD mapping startup, DeepMap, in the previous year, Nvidia hastened the development of its DRIVE Map software. The mapping technologies of the startup were integrated into DRIVE Map. Nvidia's DRIVE Map merges the precision of DeepMap survey mapping with the extensive scale of AI-based crowdsourcing.

What Segments Are Covered In The Connected Cars Market Report?
The connected carsmarket covered in this report is segmented –

1) By Product Type: Embedded, Tethered, Integrated
2) By Application: Navigation, Infotainment, Telematics, Combination
3) By Services: Driver Assistance, Safety and Well-Being, Entertainment, Vehicle Management, Mobility Management, Other Services

Subsegments:
1) By Embedded: OEM Embedded Systems, Aftermarket Embedded Systems
2) By Tethered: Smartphone Tethering, Mobile Hotspot Tethering
3) By Integrated: Infotainment Systems, Advanced Driver-Assistance Systems (ADAS), Vehicle-to-Everything (V2X) Communication

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Which Region Is Projected To Hold The Largest Market Share In The Global Connected Cars Market?
In 2024, the most significant region in the connected cars market was Asia-Pacific, with Western Europe following closely as the second largest. The report encompassing the market of connected cars includes regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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