The Europe-connected cars market revenue by the end of 2021 was USD 10.2 Billion. The Europe-connected cars market is expected to reach USD 49.7 Billion by 2032, as it is estimated to grow at a CAGR of 15.6% from 2022 to 2032.
| Attributes | Details |
|---|---|
| Estimated Year (2022) Market Value | USD 11.6 Billion |
| Projected Year (2032) Market Value | USD 49.7 Billion |
| CAGR% (2022 to 2032) | 15.6% |
| Top 5 Vendor Market Share | Around 45% |
Connected automobiles allow car owners to engage with all connected devices inside and outside their vehicles, as well as maintain a safe distance between vehicles on the road. These vehicles also enable drivers to mechanically check the physical condition and performance of the vehicle. Connected automated driving can also be utilized to connect smartphones and other mobile devices to automobiles.
Customers have access to the vehicle via connectivity solutions, which relay current information about the vehicle's performance. The services and products of the connected car market are divided into sensors, fleet managers, cellular modules, wireless processors, OEM services, and wireless and aftermarket services.
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The European connected car market is estimated to grow at a CAGR of 15.6% for the forecast period.
Connected driving experiences are in high demand. Auto manufacturers and OEMs (original equipment manufacturers) are working towards implementing connected car technologies. Safety-related legislative actions will have a significant impact on OEM technology uptake across Europe. The increased demand for electric vehicles among European customers is critical to the growth of the market for linked automobiles. The industry is expected to grow due to the widespread adoption of wireless and mobile technologies.
Furthermore, the EU government is establishing different vehicle-related rules and regulations, which is a welcome step for connected car manufacturers and dealers. The availability of modern telecommunications and road infrastructure will also continue to stimulate the European automobile market. OEMs are focusing on strengthening the market.
The advancement of the 5 G-enabled automobiles is a crucial development of the connected car market over the forecast period. Technology provides a feature where car owners can communicate effectively with each other.
Fifth-generation wireless technology is expected to connect everything around us with an ultra-fast, fully responsive network. 5G will improve technologies like virtual reality, the Internet of Things (IoT), and artificial intelligence. Due to this, companies are focusing on the adoption and development of 5G in connected cars. and can manage vehicle speeds with a smart motor. Several uses of the 5G network implemented in cars indicate the growing demand for the connected car market. And also, the different prospects of vehicles' IoT as a technology for autonomous driving and vehicle security have risen with connected cars.
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Germany stood out among the countries of the European Union as the main support for the increasing demand for linked cars. Numerous businesses are collaborating with other market participants to create innovative technology for autonomous vehicles. The majority of autonomous vehicles use electric powertrains, which is advantageous for countries trying to meet their objectives to reduce their emission levels. New technologies, supported by governments to increase connected car sales, are fostering innovation in the connected and autonomous vehicle industries.
Due to the high cost of developing, testing, and producing driverless and autonomous vehicles in Germany, businesses are concentrating on enhancing their Research and Development through a variety of partnerships and agreements.
Leading connected car developers are getting funding from investment firms to make cybersecurity adoption in linked cars possible. This is included to ensure secure data transport. In order to provide a better driving experience, top automakers are also introducing new autonomous, linked automobiles.
The connected car market in the United Kingdom is expanding as a result of top companies operating there developing to offer better and more effective linked car services. Additionally, adding cutting-edge features like ADAS (advanced driver assistance systems) has allowed automakers to provide connected vehicle services, ultimately spurring industry expansion.
The expansion of the connected automobile market in the United Kingdom is being driven by increasing interest in real-time data-enabled solutions to enhance the operation of transportation systems as well as growing government attention to enhancing road safety.
The French transportation industry is shifting to data-based mobility, with automotive OEMs investing heavily in digital technologies and placing more focus on collaborating with solution providers in a range of fields, including security, connectivity, and software.
The main elements driving the development of the connected car market in France are rising public awareness of the importance of driving safety and a supportive legislative environment that encourages the commercialization of connected car applications.
Several car companies operating in France have developed connected services that will eventually support the expansion of the connected car market in the nation. Due to the cooperation of top connected vehicle firms and the implementation of the 5G network for connected cars, the market for connected cars is predicted to increase exponentially. Furthermore, wireless service providers are aiming to develop cutting-edge wireless platforms for connected cars, which is also anticipated to support the market's expansion.
The Vehicle-to-Vehicle segment is expected to dominate the market during the forecast period. Technological advances are becoming more and more common in vehicle-to-vehicle (V2V) communication trends. Large companies involved in vehicle-to-vehicle communication focus on developing new technical solutions to strengthen their position.
Vehicle-to-vehicle communication can help reduce traffic congestion in large cities, improve road safety, and improve passenger comfort. The development of wireless technology and the increasing deployment of advanced devices such as sensors and GPS in V2V systems are expected to maintain the dominance of this segment during the forecast period.
Growing interested in traffic safety is expected to boost the growth of the vehicle-to-vehicle communication market in the future. V2V technology helps establish efficient traffic management and saves time for vehicle users. As cars communicate with their environment, information about road signs, traffic signs, traffic jams, and traffic diversions can help determine the best route between the starting point and destination.
5G is an integral part of the transformation of the automotive industry, especially as it relates to connected cars, how automotive original equipment manufacturers (OEMs) design and build vehicles, how they perform on the road, and how they interact with customers? Mobile network providers are already providing these capabilities with the seamless integration of 5G.
Car vendors like Hyundai and MG Hector are implementing technologies to include internet connectivity within their vehicles and 5G connectivity can help these companies expand upon their solution offerings.
For these reasons, the 5G Connectivity segment is to grow at a CAGR of 18.6% for the forecast period.
Driver assistance systems are designed not only to increase driver safety but also to provide a more comfortable and easier driving experience to the driver. Driver assistance systems consist of several components that perform some basic operations like lane assist, pre-crash systems, etc.
Advanced Driver Assistance Systems are passive and active safety electronic systems within a vehicle that uses advanced technology to assist the driver in eliminating human error during vehicle operation. It offers a variety of applications such as lane departure warning/correction, pedestrian detection/avoidance, automatic emergency braking traffic sign recognition, and blind spot detection.
Key market players are launching advanced driver assistance systems for highly automated vehicles such as connected cars, which evidently drive the growth of the Europe Connected Cars Market.
Due to these factors, Driver Assistance Segment had the larger market share of 28.2%.
Rising demand for comfort, convenience, and safety is driving the market for vehicles with advanced HMI (human-machine interface) capabilities, more connected technology, and the integration of advanced driver assistance system (ADAS) solutions. Growing demand for electric vehicles from European customers is playing a key role in boosting the market for connected driving experiences. The market is expected to gain strong traction due to the proliferation of mobile and wireless technologies.
An in-vehicle infotainment system is an interface between various parties, i.e., customers, Internet service providers, and companies that manufacture vehicles, home appliances, and electronics. Growing customer awareness of connected car services and an increasing willingness to pay for premium features are contributing to the growth of connected cars in the European market.
Increasing technological developments such as uninterrupted connectivity, cyber security, and the development of self-driving vehicles with integrated and highly secure software are expected to support OEM dominance over the forecast period. Moreover, increasing partnerships with key players to develop high-quality and cost-effective components is another reason driving the growth of the OEM segment.
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With players including Denso Corporation, Continental AG, Autoliv, Robert Bosch GmbH, Harman International, and Delphi Automotive LLP, the European connected car industry is somewhat concentrated. As the need for linked systems in the area increases, connected-car manufacturers are developing new products with cutting-edge technology in an effort to get an advantage over their rivals. As a result, businesses are concentrating on the application and advancement of 5G in vehicles to obtain a competitive edge over other market participants.
| Attribute | Details |
|---|---|
| Market value in 2021 | USD 10.2 Billion |
| Market CAGR 2022 to 2032 | 15.6% |
| Share of top 5 players | Around 45% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Billion for Value |
| Key Countries Covered | Germany, United Kingdom, France, Spain, Italy, Benelux, Russia, Rest of Europe |
| Key Segments Covered | By Communication Type, By Connectivity Technology, By Application, By Vehicle Type, By End User & By Country |
| Key Companies Profiled | Bosch; Harman; Airbiquity; Visteon; Continental AG; Audi AG; BMW Group; Autoliv Inc.; Delphi Automotive LLP; Daimler AG; Verizon Communication; Denso Corporation. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Some leading of the European connected cars market is Bosch, Harman, BMW Group, and Visteon.
Spain is estimated to have the highest growth for the North American keyless vehicle access control system during the forecast period at 16.2%.
Developing the utility of the cars and improving the safety while driving.
Vehicle-To-Vehicle (V2V) had the largest market share for Europe-connected cars to market at 34.8% in 2021.
Vehicle-To-Infrastructure (V2I) has the highest CAGR of 15.9% for the forecast period.
4G LTE has the highest market share for Europe-connected cars at 59.5% for the year 2021.
The market share of the United Kingdom for the year 2021 for the Europe-connected cars market was 26.2%.
Germany had a market share of 31.1% in 2021 for Europe connected cars market.
France had a market share of 19.8% for 2021.
The estimated market value for Europe-connected cars for the year 2023 is USD 13.3 Billion.
The growth rate for 5G in connectivity technology for Europe connected cars market is 18.6% for the forecast period.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Europe Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Europe Market Analysis and Forecast 6.1. Communication Type 6.2. Connectivity Technology 6.3. Application 6.4. Vehicle Type 6.5. End User 7. Europe Market Analysis and Forecast, By Communication Type 7.1. Vehicle-To-Vehicle (V2V) 7.2. Vehicle-To-Infrastructure (V2I) 7.3. Vehicle-To-Pedestrian (V2P) 7.4. Others 8. Europe Market Analysis and Forecast, By Connectivity Technology 8.1. 3G 8.2. 4G LTE 8.3. 5G 8.4. Others 9. Europe Market Analysis and Forecast, By Application 9.1. Driver Assistance 9.2. Infotainment 9.3. Vehicle Safety & Security 9.4. Telematics & Navigation 9.5. Others 10. Europe Market Analysis and Forecast, By Vehicle Type 10.1. Passenger Cars 10.2. Commercial Vehicles 11. Europe Market Analysis and Forecast, By End User 11.1. Automotive OEMs 11.2. Automotive Aftermarket 12. Europe Market Analysis and Forecast, By Region 12.1. United Kingdom 12.2. Germany 12.3. France 12.4. Spain 12.5. Italy 12.6. Benelux 12.7. Russia 12.8. Rest of Europe 13. United Kingdom Sales Analysis and Forecast, by Key Segments and Countries 14. Germany Sales Analysis and Forecast, by Key Segments and Countries 15. France Sales Analysis and Forecast, by Key Segments and Countries 16. Spain Sales Analysis and Forecast, by Key Segments and Countries 17. Italy Sales Analysis and Forecast, by Key Segments and Countries 18. Benelux Sales Analysis and Forecast, by Key Segments and Countries 19. Russia Sales Analysis and Forecast, by Key Segments and Countries 20. Rest of Europe Sales Analysis and Forecast, by Key Segments and Countries 21. Sales Forecast by Communication Type, Connectivity Technology, Application, Vehicle Type, and End User for 30 Countries 22. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 23. Company Profile 23.1. Bosch 23.2. Harman 23.3. Airbiquity 23.4. Visteon 23.5. Continental AG 23.6. Audi AG 23.7. BMW Group 23.8. Autoliv Inc. 23.9. Delphi Automotive LLP 23.10. Daimler AG 23.11. Verizon Communication 23.12. Denso Corporation
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Europe Connected Cars Market
