Connected Car M2M Connections and Services Market

Key Insights

The Global Connected Car M2M Connections and Services Market is valued at USD 31.538543 Billion in 2023 and is projected to reach a value of USD 70 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 10.5% between 2024 and 2032.

Overview and Description

Connected Car M2M Connections and Services allows connectivity between cars and offers various services, convenience, safety, and security to the consumers along with powerful network technology. This enables the driver to connect with online platforms, and provides real-time communication. The M2M feature in a car enables interconnectivity between two connected cars. The car is equipped with numerous sensors and processors, which provide accurate and real-time information to the driver.

This report provides an analysis of the Connected Car M2M Connections and Services Market for the historic period of 2019–2022 and forecasts for 2023–2032 while 2022 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2019–2032. There regional section of the report is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report also covers exhaustive information on growth factors/drivers, restraints, opportunities, regulatory landscape and technology roadmap among others. Moreover, the report also includes exhaustive SWOT analysis, PEST analysis, value chain analysis, and Porter’s five forces analysis on Connected Car M2M Connections and Services Market. This data is likely to help the industry stakeholders and stimulate the decision-making process.

COVID-19 Impact Analysis

The COVID-19 outbreak has affected various industries worldwide. The Connected Car M2M Connections and Services Market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy. Industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

• Impact Assessment of COVID-19 Pandemic
• Pre & Post COVID-19 Market Size
• Qualitative analysis on the short term & long-term impact of COVID-19 on the market
• The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

The rising car sale across the globe is anticipated to augment the growth of the Connected Car M2M Connections and Services Market during the forecast period. This is owing to the rapid urbanization, rising disposable income of the consumers, and increasing developments in current technologies. Furthermore, the constant upgradation and updates of software and services used in this market are anticipated to offer productive opportunities for the growth of the Connected Car M2M Connections and Services Market in the coming years.

The development of different technologies like AI Interfaces and 5G is anticipated to augment the growth of the Connected Car M2M Connections and Services Market in the years to come. Most of the players in telecom industry are developing 5G to increase the safety and efficiency of connected cars. According to International 5G automotive associations, 68% of accidents can be avoided with the integration of 5G connectivity technology. Furthermore, with the increasing use of sensors coupled with other technologies that are used to collect data, AI will be considered as an important technology to make sense of all data collected. Some automobiles already use AI for Level 3 autonomous driving whcih is driving the market.

The high cost associated with such system and system failure is anticipated to hamper the growth of the connected cars M2M connections and services market.

Market Segmentation

The report delivers an acute breakdown of the market based on various segments such as Application, End Market, , and region. The report includes market size and forecast for each segment by region/country for the years 2019–2032. Moreover, it also covers a thorough analysis of growth factors and opportunities impacting segmental growth.

On the basis of Application, the market is divided into Safety and Driver Assistance, Infotainment, Vehicle Management, Insurance Based Telematics. Safety and Driver assistance dominated the Global Connected Car M2M Connections and Services Market in 2022 and is projected to witness the same trend during the forecast period.

Based on End Market, the market is segmented into Original Equipment Manufacturer (OEMs), Aftermarket. Original Equipment Manufacturer (OEMs) accounted for the highest market share and is expected to grow at a significant CAGR from 2023 to 2032.

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• Competitor Benchmarking
• Market Trends Heatmap
• Custom Research Queries
• Market Sentiment Analysis
• Demographic and Geographic Insights

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Regional Analysis: Preview

Based on the geography, the Global Connected Car M2M Connections and Services Market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market.

The report covers detailed analysis on drivers, business opportunities, regulatory norms, supplier concertation and such other factors impacting regional growth. Moreover, it also covers market estimations and forecast for each segment for each region for the years 2019–2032.

Competitive Landscape

The Global Connected Car M2M Connections and Services Market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Connected Car M2M Connections and Services Market are Intel, Ericsson, BMW, CalAmp, Airbiquity, Verizon Telematics, Broadcom, Apple, Alcatel-Lucent, Bell Mobility, General Motors, HERE, BMW, Ford Motors, Google, Audi Connect, Harman International, Sierra Wireless, AT&T, Hyundai Motors, Daimler, Aeris, Autonet Mobile, IBM, Axway, Gemalto.. This section of the report provides in depth analysis on key market players based on various parameters such as business overview, portfolio analysis, business strategies, financial performance, geographical presence, and recent developments among others. It will also include information on key strategies adopted by major market players.

The Global Connected Car M2M Connections and Services Market can be categorized as Type, Application, End-Use Industry, and Region.