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Connected Car Market: Advanced Tech Driving Valuation to USD 143.72 Billion by 2031 | SkyQuest Technology

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WESTFORD, Mass., July 22, 2024 /PRNewswire/ — According to SkyQuest, the global Connected Car Market size was valued at USD 34.56 Billion in 2022 and is poised to grow from USD 41.29 Billion in 2023 to USD 143.72 Billion by 2031, growing at a CAGR of 19.50% during the forecast period (2024-2031). 

Connected cars are witnessing momentum owing to the speedy adoption of improved technologies and growing sales of vehicles embedded with these technologies. Dynamic developments in vehicle technology and connectivity are changing the automotive market. Improved technologies like (ADAS) advanced driver assistance systems, artificial intelligence, and V2X infrastructure are considerably making independent driving functionality. In addition, improvements witnessed in telecommunication are also majorly driving the market growth, since they connect vehicles. Furthermore, IT equipment is making major contributions to deliver a wide range of services like telematics, entertainment, after-sales diagnostics and more.

Besides, rising number of government initiatives like fixing of communication devices in the new vehicles and support for autonomous driving are helping the market grow.

Download a detailed overview:

https://www.skyquestt.com/sample-request/connected-car-market

Connected Car Market Overview:

Report Coverage

Details

Market Revenue in 2023

USD 41.29 Billion

Estimated Value by 2031

USD 143.72 Billion

Growth Rate

Poised to grow at a CAGR of 19.50%

Forecast Period

2024–2031

Forecast Units

Value (USD Brillion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Service, Hardware, Form Type, End Market, Transponder, Network, Electric Vehicle Type, and Region

Geographies Covered

North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Expanding Use of Technologies like AI and IoT in Connected Vehicles

Key Market Drivers

Growing Spending Power of Consumers in the Developing Economies

 Segments covered in Connected Car Market are as follows:

ServiceNavigation, Remote Diagnostics, Multimedia Streaming, Social-Media and Other Apps, OTA Updates, On Road Assistance, E-call And SOS Assistance, Cybersecurity, Remote Operation, Collision Warning, Auto Parking/ Connected Parking, Autopilot, Home Integration, Vehicle Management, Asset TrackingHardwareHead Unit, Central Gateway, Intelligent Antenna, Electronic Control Unit, Telematic Control Unit, Keyless Entry Systems, and SensorsForm TypeEmbedded, Tethered, and IntegratedEnd MarketOriginal Equipment Manufacturer, and AftermarketTranspondero On Board Unit, and Roadside UnitNetworkDSRC, and CellularElectric Vehicle TypeBEV, PHEV, and FCEV

Request Free Customization of this report:

https://www.skyquestt.com/speak-with-analyst/connected-car-market

Growth of Cloud Services and Supporting Government Initiatives to Lead the Embedded Segment

Currently, the embedded segment is registering a majority share of the connected car market. The growth of cloud services, increasing government regulations, and cost upgrading of service plans are the key focus areas. The embedded systems are commonly seen in the United States, supported by consumer demand and improved infrastructure of superior technology. Integration of such embedded systems helps mature utilities including real-time diagnostics, OTA (over the air) updates, and ADAS.

The integrated segment is projected to be fastest growing since they offer better access of the internet and several other intelligent features. They deliver abundant features for sharing of data and are economic in nature.

5G Segment to Continue Dominating Due to Increased Adoption of Communication Networks to Reduce Road Accidents

Based on network, the 5G segment is projected to hold major share of the market since most telecommunication companies are actively focusing on launching improved 5G networks for enhanced communication between external devices and connected vehicles. Studies show that with unified 5G network, more than 60% of road mishaps can be avoided.

The satellite segment is projected to grow considerably over the coming years due to the rising adoption of Wi-Fi and cellular networks—these networks function only in places of mobile towers in the cities. In places of no connectivity, this may lead to road accidents damaging the occupants and the driver.  To avoid this scenario, satellite operators, OEMs, and mobile operators are focusing on introducing hybrid networks that will offer uninterrupted connectivity, thereby driving the market growth.

View report summary and Table of Contents (TOC):

https://www.skyquestt.com/report/connected-car-market

OEM Segment to Lead Due to Focus on Delivering Enhanced Connected Technology in New Vehicles

By End Use, the OEM segment is holding maximum share of the market since Original Equipment Manufacturers are increasingly offering improved connected vehicle technology in modern vehicles. This technology also delivers smooth connectivity, several advanced characteristics, and safety features, which assist the driver in better driving, thereby driving the demand. Vehicle makers are constantly engrossed in offering improved systems like infotainment, ADAS and more that make the vehicle stronger, high-quality, and support its prominence.  The implementation of these solutions, along with efforts by OEMs will propel the connected car market in the future.

The aftermarket segment is expected to be the leading segment since the installation of improved technologies is done after the car is purchased. Hence, consumers are highly demanding vehicles with in-built connectivity solutions. Also, consumers are speedily installing these systems in their existing old cars, thus driving the aftermarket segment. The growth of the aftermarket segment will largely impact the connected car market.

Streamlining Purchase Decisions for Consumers

With the development of hi-performing computing, modern cars will swiftly process more information from the sensors. Constant improvements in AI, sensor technologies, and deep learning will significantly drive the performance of the self-driving cars. In addition, implementation of IoT in infrastructure of public will offer enhanced situational awareness, thereby improving safety on roads. The market is further expected to improve technologies like sensor fusion and 5G, and these trends will unbelievably transform the market. Hence, vehicle makers should be updated with the emerging developments and identify fresh opportunities to gain strong foothold in the coming years.

Related Report:

Electric Vehicle (EV) Market

Electric Vehicle (EV) Charging Infrastructure Market

Smart Transportation Market

Lidar Market

Automotive Sensor Market

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/

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View original content:https://www.prnewswire.co.uk/news-releases/connected-car-market-advanced-tech-driving-valuation-to-usd-143-72-billion-by-2031–skyquest-technology-302202482.html

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Gubagoo and Fullpath Unveil Curator, the First Unified Intelligence Engine for Automotive Retailers

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Curator brings together every type of data across a dealership and normalizes, cleanses, and deduplicates it, creating a single unique view of every customer.

HOUSTON and TEL AVIV, Israel, Nov. 17, 2024 /PRNewswire/ — Gubagoo, the leading provider of digital retailing and conversational commerce for automotive dealerships, announced today Curator, the first Unified Intelligence Engine for automotive retailers.

Powered by Fullpath, the automotive industry’s leading customer data platform (CDP) and marketing automation platform, Gubagoo’s Curator has unified all three types of data – transactional, demographic, and behavioral – and made it actionable. Curator collects and unifies first-party data from multiple sources to build a single, complete view of each customer. Dealerships can then use this data for powerful customer and user activation – giving consumers the 1:1 personalization they expect in today’s environment.

While dealerships sit on a wealth of data, one of the biggest challenges they face is leveraging their strong datasets to impact their business strategy and improve the client experience. The root cause is data siloed in disparate applications, spread across multiple or duplicate customer records, sources, reporting tools, and vendors.

Through the partnership, Fullpath provides accurate first-party behavioral data fueled by its powerful analytics engine, identity resolution, and website traffic attribution.

Gubagoo and its parent company, Reynolds and Reynolds, bring a view from inside the dealership with transactional and demographic information, leveraging the richest first-party data in the industry from within the DMS and CRM, as well as customer activity from chat and digital retailing activities.

Combining all of this data into a Unified Intelligence Engine creates a holistic view of the dealership’s customers, unlike any other.

“We knew with Gubagoo and Reynolds we would build something historic for the industry by giving dealers the power to understand and activate their data through a truly connected data infrastructure. And now that we’ve seen the power of Curator, we know that dealers have unparalleled views of their customers they can take action on,” says Aharon Horwitz, Fullpath CEO & Co-founder.

By connecting the DMS, CRM, F&I, Chat, Digital Retailing tools, and more, Curator provides:

Business insightsDecisioning toolsMulti-touch attribution metricsData segmentation across sales and serviceCampaign management and audience best practices for marketing purposesSales enablement

Furthermore, Curator measures effectiveness by department, ad campaigns, as well as customer retention and reactivation; all while managing data hygiene, enrichment, appends, and ID resolutions.

“Dealers have a huge opportunity in front of them, and we couldn’t be more excited to help them take advantage of it with a Unified Intelligence Engine,” said Brad Title, president of Gubagoo. “They have struggled for years with segmented data in disparate tools, and now with Curator, they can leverage all their information in a single place to dramatically increase efficiencies and truly wow customers.”

The groundbreaking Unified Intelligence Engine will launch at NADA 2025.

About Fullpath
Fullpath is the automotive industry’s first enhanced Customer Data Platform (CDP). Fullpath unifies first-party dealership data and activates it by layering powerful AI and marketing automation on top to create a Customer Data and Experience Platform (CDXP). Dealerships that invest in the platform create exceptional, hyper-personalized customer experiences that drive loyalty and build resilient, lasting business.

About Gubagoo
Gubagoo is the leading provider of conversational commerce and retail solutions for both automotive dealerships and OEMs. More than 8,500 dealerships worldwide partner with Gubagoo, including 90% of the top dealer groups in North America. The company is a subsidiary of Reynolds and Reynolds, with offices in Dayton, Ohio, Houston, Texas, and operates in the US, Canada, Mexico, Europe, and Australia. (Gubagoo.com)

View original content:https://www.prnewswire.com/news-releases/gubagoo-and-fullpath-unveil-curator-the-first-unified-intelligence-engine-for-automotive-retailers-302307665.html

SOURCE Fullpath

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O’Fallon (MO) Police Department Revolutionizes Public Safety with Cutting-Edge Technology with Caliber Public Safety

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O’Fallon (MO) Police Department is enhancing public safety by adopting Caliber’s public safety software suite, positioning itself as a leader in modern public safety technology.

WINSTON-SALEM, N.C., Nov. 17, 2024 /PRNewswire-PRWeb/ — O’Fallon, MO – The O’Fallon Police Department is proud to announce its partnership with Caliber Public Safety, integrating state-of-the-art Computer-Aided Dispatch (CAD), Records Management System (RMS), and Mobile solutions to enhance public safety and law enforcement operations.

“We’re honored to partner with the O’Fallon Police Department in their innovative approach to public safety, empowering their mission to boost efficiency and protect their community,” said Chris Faircloth, VP of Sales and Marketing for Caliber Public Safety.

This significant upgrade reinforces the department’s commitment to modernizing public safety, ensuring the protection and well-being of O’Fallon’s 94,000+ residents. The integration of Caliber’s innovative technologies optimizes dispatch and response operations, facilitating faster reaction times and more effective data management.

“We are excited to leverage these cutting-edge tools to serve our community more efficiently and effectively,” said Chief Frank Mininni. “This technological leap ensures our teams can react faster and manage critical data more effectively, creating a more secure environment for everyone.”

Key benefits of the upgrade include:

Enhanced efficiency through seamless integration of CAD, Mobile, and RMS technologiesImproved data sharing capabilities, connecting local, regional, state, and national agenciesIncreased situational awareness for first responders through real-time access to critical information

The O’Fallon Police Department’s investment in Caliber Public Safety’s solutions was made possible by the “Use Tax” approved by voters in 2019. This tax enables the department to stay current with evolving technology, ensuring transparency and effective use of taxpayer money.

“We are honored to partner with the O’Fallon Police Department in their forward-thinking approach to public safety,” said Chris Faircloth, Vice President of Sales and Marketing for Caliber Public Safety. “Together, we are empowering their mission to enhance operational efficiency and safeguard the people they serve.”

About the O’Fallon Police Department:

The O’Fallon Police Department serves over 94,000 residents with a team of 100+ sworn officers, consistently ranking among America’s “Best Places to Live” and “Safest Cities.”

About Caliber Public Safety:

Caliber Public Safety provides innovative solutions to over 1,000 public safety agencies across North America, focusing on data-sharing and interoperability.

Media Contact

Chris Faircloth, Caliber Public Safety, 1-800-274-2911, info@caliberpublicsafety.com, https://caliberpublicsafety.com/

View original content:https://www.prweb.com/releases/ofallon-mo-police-department-revolutionizes-public-safety-with-cutting-edge-technology-with-caliber-public-safety-302307052.html

SOURCE Caliber Public Safety; Caliber Public Safety

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GAC Group Showcases New Energy Vehicles and Unveils “Panyu Action” at the 22nd Guangzhou International Auto Show

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GUANGZHOU, China, Nov. 17, 2024 /PRNewswire/ — On November 15, at the 22nd Guangzhou International Auto Show, GAC’s self-owned brands unveiled three groundbreaking models. Alongside these vehicle debuts, GAC Group introduced its three-year strategic initiative – “Panyu Action” – which aims to increase the share of self-owned brands to over 60% of total group sales by 2027, targeting 2 million units in sales.

Designed to drive GAC Group’s transformation, “Panyu Action” is expected to enhance operational efficiency and position the company for sustained high-quality development. This strategic initiative is expected to help GAC strengthen its leadership within both domestic and international automotive markets.

Feng Xingya, President of GAC Group, stated, “GAC Group has taken a solid step forward in its new phase of transformation. We will forge ahead with determination and live up to expectations, presenting an all-new GAC to everyone over the next three years!”

In line with its vision, GAC Group has invested over 50 billion yuan in independent research and development. The company plans to invest an additional 50 billion yuan in the next three years to support its “Panyu Action” initiative, reinforcing its commitment to remain at the forefront of technological innovation in the automotive industry.

“Right now, GAC’s global expansion is entering a new phase, with vehicle exports and local production moving forward together,” said Wei Haigang, President of GAC International. ” We will continue to expand international markets, with plans to reach 100 countries and regions by 2027, and export 500,000 vehicles.”

As part of its growth strategy, GAC Group unveiled three standout models at this year’s auto show: the S7, GAC’s first advanced intelligent vehicle, featuring AI-driven ambient lighting with eight preset expressions for personalized interaction; the Aion UT, the third global strategic model from Aion, with bold headlights and a hatchback design that embodies a unique, free-spirited style; and the HYPTEC HL, GAC’s luxury intelligent flagship SUV, which combines yacht-style wraparound design with zero-gravity seats for an unmatched luxury electric driving experience.

These new models highlight GAC Group’s dedication to leading the smart electric vehicle market, with plans for their introduction to international markets as part of the company’s ongoing global expansion strategy.

Looking ahead, GAC Group remains committed to delivering better products, services, and experiences to consumers worldwide, enhancing mobility solutions and enriching the lives of customers across the globe.

SOURCE GAC

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