Report ID: 10009620 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
United States Connected Vehicle Market Report Scope
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~21% |
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Base Year Market Size (2022) |
~ USD XX.X Million |
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Forecast Year Market Size (2033) |
~ USD XX.X Million |
United States Connected Vehicle Market Highlights Over 2023 - 2033
The United States connected vehicle market is estimated to garner a notable by the end of 2033 by growing at a CAGR of ~21% over the forecast period, i.e., 2023 – 2033. Further, the market generated a significant revenue in the year 2022. The growth of the market can be attributed to the rising sales of connected cars. For instance, more than 12 Million connected cars were sold in the United States in the year 2020.
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A connected vehicle refers to one that can communicate bidirectionally with systems outside the vehicle (LAN). This enables the vehicle to share internet access and thus data with other devices both inside and outside the vehicle. Moreover, the major network type used for the connected devices is 3G, 4G, 5G, and satellite. Therefore, increasing internet connectivity is expected to surge the growth of the United States connected vehicle market. As per the World Bank, the percentage of individuals using the internet has increased from 43 percent in 2000 to 91 percent in 2020
United States Connected Vehicle Market: Growth Drivers and Challenges
Growth Drivers
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Surging Number of Road Accidents – Connected vehicle can reduce the surging number of road accidents, and it is projected to drive the growth of the United States connected vehicle market. There are more than 12 Million vehicles involved in traffic crashes in the year 2019 in the United States
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Rising Smartphone Users – More than 290 Million smartphones users are present in the United States in the year 2022
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Growing Automotive Industry– More than 90 percent of households have access to at least one vehicle in the year 2019
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Integration of Artificial Intelligence– There were more than 145 number of artificial intelligence deals in Q3 2020 in the United States
Challenges
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Lack of Awareness Among the Consumers
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High Cost for the Installation of System
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Lack of Network Infrastructure
The United States connected vehicle market is segmented and analyzed for demand and supply by network type into 3G, 4G, 5G, and satellite. Out of these, 5G segment is expected to hold the largest share over the forecast period owing to the rise in the number of 5G network subscribers, and the increasing adoption of 5G network by vehicle companies. There were more than 1 Million 5G service subscriptions in the year 2019 in the United States.
Market Segmentation
Our in-depth analysis of the United States connected vehicle market includes the following segments:
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By Network Type |
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By Connectivity |
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By Product & Services |
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Key Companies Dominating the United States Connected Vehicle Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the United States connected vehicle market that are included in our report are Autoliv Inc., Delphi Technologies (BorgWarner Inc.), DENSO Corporation, Continental AG, ZF Friedrichshafen AG, Robert Bosch GmbH, General Motors, HARMAN International, AT & T Intellectual Property, Apple Inc., and others.
United States Connected Vehicle Market: Latest Developments
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February, 2022: Autoliv, Inc., announced the collaboration with Polestar to develop a truly climate-neutral car by 2030 and aim for net-zero emissions across its supply chain by 2040
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December, 2019: DENSO Corporation, announced the starting of validating jointly developed vehicle security operation center technology with NTT Communication to realize resilient security solutions for connected cars
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
Frequently Asked Question
The market is segmented by network type, connectivity, product & services, and by region.
The 5G segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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Report ID: 10009620 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
