Automotive Connected Car Platform Market size is set to grow by USD 6.57 billion from 2024-2028, Increased focus of OEMs on the development of autonomous and connected vehicles to boost the market growth, Technavio

NEW YORK, June 7, 2024 /PRNewswire/ -- The global automotive connected car platform market  size is estimated to grow by USD 6.57 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 13.11%  during the forecast period. Increased focus of OEMs on the development of autonomous and connected vehicles is driving market growth, with a trend towards rental companies adopting the connected car platform to attract customers. However, design complexity and technological challenges associated with connected car technologies  poses a challenge. Key market players include Airbiquity Inc., AppDirect Inc., AT and T Inc., BlackBerry Ltd., Capgemini Service SAS, Cisco Systems Inc., CloudMade, Connexion Telematics Ltd., GlobalLogic Inc., Harman International Industries Inc., Insurance and Mobility Solutions, Information Technologies Institute Intellias LLC, KaaIoT Technologies LLC, LG Electronics Inc., Microsoft Corp., NNG Software Developing and Commercial Llc., Otonomo Technologies Ltd., Qualcomm Inc., Robert Bosch GmbH, and TomTom NV.

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Key Market Trends Fueling Growth

Connected car technologies are increasingly being adopted by retail customers and rental players, particularly in emerging markets. Ola, an on-demand taxi service in India, offers its connected car platform, Ola Play, to rental users. This platform enables users to control car functions via smartphones or in-car devices, offering comfort and entertainment features like music and video streaming.

Rental companies aim to engage customers longer with these apps, benefiting customer attraction and retention. This trend presents a new revenue opportunity for connected car platform providers, aligning with the growth of mobility-as-a-service (MaaS). 

The Connected Car Market is experiencing significant growth with advanced technologies such as vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communications becoming trendy. Vehicles are now equipped with features like real-time traffic updates, remote diagnostics, and infotainment systems. The use of artificial intelligence and machine learning is increasing, enabling predictive maintenance and personalized services.

The market is also witnessing the integration of various applications like music streaming, navigation, and safety features. The adoption of 5G technology is expected to further boost the market, enabling faster data transfer and more advanced services. Overall, the Connected Car Platform Market is transforming the automotive industry with innovative solutions and enhanced user experiences. 

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Market Challenges

• The automotive connected car platform market faces challenges in designing user-friendly and affordable interfaces for increasing complex telematics and infotainment systems. Transitioning from IPv4 to IPv6 will require optimization of gateways for handling large data transfers. Standardization among players is crucial for uniform service offerings during this coexistence period.
• The Automotive Connected Car Platform market is experiencing significant growth, with various players providing services such as vehicle tracking, remote diagnostics, and infotainment systems. However, challenges persist in ensuring secure data transmission, interoperability between different systems, and managing the vast amount of data generated.
• Additionally, consumer privacy concerns and the need for standardization are key challenges that must be addressed to fully realize the potential of this market. Providers must focus on developing robust and secure platforms that prioritize user privacy and offer seamless integration with various vehicle systems.

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Segment Overview 

1. Service 
• 1.1 Infotainment services
• 1.2 Telematics services
2. Technology 
• 2.1 Integrated solution
• 2.2 Embedded solutions
• 2.3 Tethered solutions
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Infotainment services-  The automotive connected car platform market is experiencing growth due to the increasing adoption of infotainment systems in both mass and luxury vehicles. OEMs are investing in unique offerings to differentiate themselves, such as Trak N Tell's IntelliPlay system with safety features and engaging entertainment. The reduction in hardware costs, driven by component-sharing with consumer electronics, has made infotainment systems more accessible. The upcoming curved, large fourth-generation displays will further revolutionize the market. QNX's reliable and compelling connected platforms enable OEMs to enter the high-end infotainment system market, making this segment dominant during the forecast period.

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Research Analysis

The Automotive Connected Car Platform Market is experiencing significant growth due to the integration of advanced technologies such as Vehicle Infotainment, Autonomous Cars, and V2V Communication. OEMs are increasingly focusing on providing Comfort, Convenience, Performance, and Safety features to consumers through Connected Cars.

Sensors and Processors play a crucial role in enabling these features, while the Production of vehicles is transitioning towards more Lightweight Suspension Systems for improved efficiency. Telecommunication companies are essential partners in this ecosystem, providing 3G/4G services for high-speed Data transfer. The market is expected to continue its expansion, driven by the demand for enhanced driving experiences and the pursuit of safer, more efficient transportation solutions.

Market Research Overview

The Automotive Connected Car Platform market refers to the technology and services that enable vehicles to communicate with other devices and systems. This includes vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication, as well as the integration of various applications and services into the vehicle. The market is driven by the increasing demand for safety, convenience, and efficiency in transportation.

Connected car platforms enable features such as real-time traffic information, automated emergency response, and remote vehicle diagnostics. Additionally, they provide opportunities for monetization through the sale of data and services to third parties. The market is expected to grow significantly in the coming years due to the increasing adoption of connected cars and the development of advanced technologies such as 5G and the Internet of Things (IoT).

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Service
• Infotainment Services
• Telematics Services
• Technology
• Integrated Solution
• Embedded Solutions
• Tethered Solutions
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio