Connected Cars
The connected cars market size has grown rapidly in recent years. It will grow from $80.04 billion in 2023 to $92.59 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to emerging markets growth, increased demand for enhanced user comfort, safety, and convenience, and increasing occurrences of vehicle theft in connected cars industry.
The connected cars market size is expected to see rapid growth in the next few years. It will grow to $165.72 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to rise in global population, the emergence of various technologies such as 5g and ai, a rise in internet penetration, internet of things (iot), rising preference of in-car wi-fi hotspots and data services and…
