Connected Cars Market to Exhibit a Staggering 26.4% CAGR from 2019-2025; Improve

Posted by Rushikesh Pise on January 17th, 2020

The global connected cars market will derive growth from recent technological advancements. According to a report published b Fortune Business Insights, titled “Connected Car Market Size, Share & Industry Analysis, By Service (mobility, telematics, infotainment, driver assistance), By Connectivity (embedded, tethered, integrated), By Vehicle (passenger car, light commercial vehicle, heavy commercial vehicle), and Regional Forecasts, 2019-2025,” the market was valued at 16.3 million units in 2018 and is projected to reach 84.2 million units by 2025,thereby exhibiting a CAGR of 26.4% from 2019-2025.

List of prominent companies that are operating in the global connected cars market are:

•          TomTom International B.V
•          AT&T
•          Harman International
•          Audi (Germany)
•          BMW (Germany)
•          Continental AG (Germany)
•          Bosch (Germany)
•          General Motors (U.S.)

Connected cars are vehicles that are integrated with internet access, with an aim to ensure a communication medium with users as well as other cars over a defined network. They are used to provide information derived from real-time sources to users, with the aim of improving the overall user experience. As connected cars operate over a wireless network, factors such as reliability and safety of the network are of utmost importance.

To Gain More Insights into the Market with Detailed Table of Content and Figures, Click Here:

https://www.fortunebusinessinsights.com/industry-reports/connected-car-market-101606

There are increased efforts taken to minimize software hacks and malfunctioning of the device. The increasing initiatives taken to minimize and resolve safety related issued, coupled with the high investment to better device safety will aid the growth of the market in the coming years.

The report offers insights into the latest connected cars market trends. It summarizes key aspects of the market, with focus on leading product types, areas that have witnessed the highest demand, leading regions, and applications. The report encompasses several factors that have contributed to market growth. Additionally, leading companies have been analysed and studied in detail through extensive research analysis methods.