North America Connected Car Market Share, Revenue, Trends, Demand, Growth Strategy, Challenges, Opportunities and Future Competition Till 2033

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North America Connected Car Market Share, Revenue, Trends, Demand, Growth Strategy, Challenges, Opportunities and Future Competition Till 2033: SPER Market Research



 Published: Dec-2023
 Author: SPER Analyst


North America Connected Car Market is projected to be worth USD 442.51 billion by 2033 and is anticipated to surge at a CAGR of 25.29%.

A connected car is a high-end, contemporary vehicle that has cutting-edge technology installed that enables it to connect to the internet, other cars, and different gadgets. Specialized sensors and computer systems collaborate inside connected cars to gather and exchange data. With the aid of this connectivity, drivers can make educated decisions by having access to real-time information about traffic, weather, and navigation in the vehicle. Autonomous emergency assistance, GPS navigation, and even self-parking capabilities are among the features that connected cars can offer.

North America Connected Car Market Driving Factors and Challenges

Drivers: The availability of 5G, growing Internet penetration, growing R&D spending by major industry players, decreasing data costs, and consumers' growing preference for connectivity features over mechanical vehicle specifications are some of the long-term factors driving demand in the automotive and transportation sectors. In the North American market, connected vehicle sales are also rising as a result of the growing popularity and sales of electric and driverless vehicles.


In addition, the primary drivers of the global market expansion for connected cars are the growing consumer demand for connectivity solutions, the intensifying necessity for continuous connectivity, the growing reliance on technology, and the rise in the number of tech-savvy people.

The growth and effectiveness of the connected car market in North America are hampered by several issues. An important barrier to connected car technologies is the need for a robust and wide-ranging infrastructure. Intelligent navigation systems and real-time data sharing apps these days require a stable and fast network connection. Lack of rapid, widespread network access may limit the effectiveness of connected car features in some areas. There are additional concerns about privacy and data security. Among the many pieces of information that increasingly connected cars gather and send are the location of the vehicle and the actions of the driver.

Impact of COVID-19 on North America Connected Car Market
The COVID-19 pandemic has had a significant effect on the connected car market in North America. The lockdowns and restrictions have resulted in a significant decrease in the amount of travel and vehicle usage. This decrease in mobility has affected the uptake and utilization of connected car services, such as in-car entertainment systems, remote diagnostics, and real-time navigation. The introduction of new connected car models was delayed by automakers' struggles with supply chain and production disruptions. Financial hardships and economic unpredictability have also influenced consumer choices; some have delayed investments in state-of-the-art automotive technologies.

North America Connected Car Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Audi AG, BMW AG, Ford Motor Company, General Motors, Honda Motor Co., Hyundai Kia Automotive Group, Jaguar Land Rover Limited, Mercedes-Benz AG, Nissan Motor Co. Ltd, Stellantis NV, Tesla Inc., Toyota Motor Corp., Volkswagen AG, Others.


North America Connected Car Market Segmentation:

By Technology Type: Based on the Technology Type, North America Connected Car Market is segmented as; 5G, 4G/LTE, 3G, 2G.

By Application Type: Based on the Application Type, North America Connected Car Market is segmented as; Driver Assistance, Telematics, Infotainment, Others.

By Connectivity Type: Based on the Connectivity Type, North America Connected Car Market is segmented as; Integrated, Embedded, Tethered.

By Vehicle Connectivity Type: Based on the Vehicle Connectivity Type, North America Connected Car Market is segmented as; V2 Vehicle, V2 Infrastructure, V2 Pedestrian.

By Vehicle Type: Based on the Vehicle Connectivity Type, North America Connected Car Market is segmented as; Passenger Cars, Commercial Vehicles.

By Region: This research also includes data for Eastern Region, Western Region, Southern Region, Northern Region.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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