“Connected Vehicles Market by Application (Telematics and Infotainment), by Hardware (Semiconductor Components, Connectivity ICSs)– Global Market Research Analysis, Insights and Forecast, 2016 – 2025,”in terms of revenue, the Connected Vehicles market is valued at US$ 48.61 bn in 2017, and is expected to reach US$ 136 Bn by 2025, expected to grow at a CAGR of 27.5% from 2017 to 2025.
Vehicles indulge in detecting driving patterns and understanding human emotions to offer an enhancing driving experience and saving lives are termed as connected cars. Connected cars have the ability of interpreting human behavioral pattern such as applying brakes, drifting and accelerating to protect from potential danger. With a powerful network technology backup, connected cars facilitate the driver in connecting with online platforms and offering real time communication. Considered to be the future of automobile industry, connected cars are specialized in wireless LAN devices, ADAS (Automated Driver Assistance System) and safety solutions. Smart phones and other mobile devices act as a medium in connecting cars via the connected car technology. With technological innovation at its peak, the demand for electric vehicles is increasing rapidly over the years which in turn are expected to drive the connected cars market through the forecast period significantly.