February 7, 2023

Global Automotive Connected Car Platform Market | APAC to occupy 42% market share and notice faster growth

NEW YORK, May 24, 2021 /PRNewswire/ —

Technavio has announced its latest market research report titled Automotive Connected Car Platform Market by Service and Geography – Forecast and Analysis 2021-2025

The automotive connected car platform market is projected to grow by USD 4.92 billion, registering a CAGR of almost 13% during 2021-2025. Technavio’s report on the automotive connected car platform market covers the market outlook and growth prospects during the forecast period.

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Technavio’s research study provides comprehensive information on the factors affecting the growth of the automotive connected car platform market across the following regions.

  • APAC

  • Europe

  • North America

  • South America

  • MEA

Automotive Connected Car Platform Market in APAC:
“APAC occupied about 42% of the market share in 2020 and the region is offering significant growth opportunities for market vendors. The rising disposable income of consumers is creating strong demand for premium vehicles equipped with advanced features such as telematics and infotainment systems. Additionally, the growth of the luxury car segment will increase the market value in APAC during the forecast period,” says a senior analyst at Technavio.

The increasing number of road accidents, especially in countries such as India and rising incidence of vehicle thefts, and safety and security issues are driving the growth of the market in APAC. The revenue contribution to the market in APAC will be maximum from China.

Automotive Connected Car Platform Market in North America:
“The increasing deployment of ADAS by automobile manufacturers is positively influencing the market in North America. In addition, the strong growth in the sales of EVs and high adoption of luxury cars are providing significant growth opportunities for vendors in the region,” says a senior analyst at Technavio.

The market is expected to register an 11.4% CAGR in North America during 2021-2025. About one-third of the population in the region is over 50 years of age. This has triggered the need for comfort and safety levels in vehicles, which is compelling automakers to introduce connected car technologies in their offerings. The revenue contribution to the market in North America will be maximum from the US and Canada.

Automotive Connected Car Platform Market in Europe:
Europe is home to several luxury automobile brands such as Audi, BMW, and Mercedes-Benz that offer high-end connectivity solutions in their vehicles. In addition, the increasing push from governments toward the adoption of safety systems is driving automakers to incorporate connected technologies even in entry segment vehicles. Such developments will foster the market growth in Europe during the forecast period,” says a senior analyst at Technavio.

The market is expected to register a 9.25% CAGR in Europe during the forecast period. Factors such as continuous advances in automobile technologies and the high adoption of in-vehicle solutions by automakers are driving the growth of the automotive connected car platform market in Europe. Germany and the UK are the major markets for automotive connected car platforms in the region.

Know about the major factors impacting the growth of the market across other regions by downloading our free sample report:
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The global automotive connected car platform market is driven by the following factors:

  • Increased focus of OEMs on the development of autonomous and connected vehicles

  • Improved smartphone ecosystem to act as an enabler for autonomous and connected vehicles

  • Rise in the adoption of cloud technologies and IoT to reduce the capital expenditure

Based on the service, the report segments the automotive connected car platform market by infotainment services and telematics services.

The infotainment services segment registered maximum growth in the market in 2020. The segment is driven by the growing incorporation of news, weather, social networking, and audio/video streaming by vendors. Also, the introduction of features such as touchscreens, voice recognition, and handwriting recognition are contributing to the growth of the segment.

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Top vendors highlighted in the Automotive Connected Car Platform Market Report:
The report offers insights on key products offered and business strategies adopted by major vendors including,

  • Airbiquity Inc.

  • AT&T Inc.

  • Capgemini SE

  • Cisco Systems Inc.

  • CloudMade

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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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Website: www.technavio.com/
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Report: www.technavio.com/report/automotive-connected-car-platform-market-industry-analysis

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