Dublin, June 07, 2024 (GLOBE NEWSWIRE) -- The "Connected Vehicle Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
Overall world revenue for the Connected Vehicle Market, is forecast to surpass US$94.48 billion in 2024, with strong revenue growth through to 2034.
The automotive industry is witnessing a seismic shift driven by rapid advancements in technology, particularly in the realms of artificial intelligence, Internet of Things (IoT), and 5G connectivity. These transformative technologies are reshaping the landscape of connected vehicles, enabling seamless communication between vehicles, infrastructure, and external devices. By harnessing AI-powered algorithms and high-speed 5G networks, connected vehicles can access real-time data, anticipate traffic patterns, and communicate with smart infrastructure, paving the way for enhanced safety, efficiency, and convenience on the roads.
Data privacy and security concerns represent significant restraining factors hindering the growth of the connected vehicles market. As vehicles become increasingly connected and reliant on data exchange, ensuring the privacy and security of sensitive information becomes paramount.
One of the primary challenges is the potential vulnerability of connected vehicles to cyber threats and malicious attacks. Hackers could exploit vulnerabilities in vehicle systems to gain unauthorized access, manipulate vehicle functions, or steal personal and sensitive data, posing serious safety and privacy risks to drivers and passengers.
Moreover, the complexity of connected vehicle systems and the interconnected nature of automotive ecosystems make them susceptible to various cyber threats, including malware, ransomware, and phishing attacks. The interconnectedness of vehicle components, such as infotainment systems, telematics units, and onboard sensors, creates multiple entry points for cyber attackers to exploit, necessitating robust cybersecurity measures to mitigate risks effectively.
Key Market Dynamics
- Market Driving Factors
- Growing Demand for Driving Assistance System Driving the Market Growth
- Advancements in Connectivity Technology Driving the Market Growth
- Adaptation of Autonomous Vehicles Driving the Market Growth
- Market Restraining Factors
- Data Privacy and Security Technology Hinder the Market Growth
- High Initial Costs and Affordability Concerns
- Lack of Connectivity Infrastructure to Hamper Market Growth
- Market Opportunities
- Intelligent Transportation System to Provide Opportunities for the Global Connected Vehicles Market
- Collaboration and Partnership Between Market Player Presents Opportunities for Market Growth
- Expansion of Businesses Provides Opportunities for Market Players
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising connected vehicle prices and recent developments.
Segments Covered in the Report
Market Segment by Network
- Dedicated short-range communications (DSRC)
- Cellular Network
Market Segment by Connectivity Solutions
- Embedded Connectivity Solutions
- Tethered Connectivity Solutions
- Integrated Connectivity Platforms
Market Segment by Software
- Vehicle Operating Systems
- Over-the-Air (OTA) Software Updates
- Data Analytics and Insights Platforms
- Cybersecurity Solutions
Market Segment by V2X Communication
- Vehicle-to-Vehicle (V2V) Comms
- Vehicle-to-Infrastructure (V2I) Comms
- Vehicle-to-Pedestrian (V2P) Comms
- Vehicle-to-Grid (V2G) Comms
- Other V2X Communication
Market Segment by Component
- Vehicle Connectivity Solutions
- Connected Services
- Connected Hardware
- Connected Software
- Vehicle-to-Everything (V2X) Communication
- Other Components
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
The report also includes profiles and for some of the leading companies in the Connected Vehicle Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- Aptiv
- AT&T
- Continental
- Intellias
- Karma Automotive
- Mercedes-Benz Group
- Microsoft Corporation
- Panasonic Holdings
- Qualcomm
- Robert Bosch
- Sierra Wireless, Inc.
- Tesla
- Verizon Communications
- Visteon
- Zubie
In summary, the report provides you with the following knowledge:
- Revenue forecasts to 2034 for the Connected Vehicle Market, with forecasts for network, connectivity solutions, software, V2X communication, and component, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for four regional and 20 key national markets among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the the Connected Vehicle Market.
For more information about this report visit https://www.researchandmarkets.com/r/a7gqbg
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