The connected car industry is rapidly evolving, driven by advancements in technology and changing consumer preferences. In this blog post, we will delve into the latest statistics and trends shaping this dynamic industry. From sales figures to usage data, we will explore key insights that are shaping the future of connected vehicles.
The Latest Connected Car Industry Statistics Explained
By 2027, the global connected car market size is expected to reach $215.7 billion.
The statistic, stating that the global connected car market size is projected to reach $215.7 billion by the year 2027, reflects the anticipated growth and importance of connected car technology in the automotive industry. This figure signifies the estimated total revenue generated from the sale and integration of connected features in cars worldwide. Connected cars, equipped with internet connectivity and various advanced technologies like navigation systems, real-time diagnostics, entertainment services, and safety features, are increasingly becoming a significant trend in the automotive market. The projected market size highlights the substantial investments and developments expected in this sector, driven by the increasing consumer demand for smart and connected vehicles.
Europe is projected to show the fastest growth in the connected car market, with a CAGR of 20.5% between 2020-2027.
The statistic indicates that Europe is expected to experience significant growth in the connected car market, with a compound annual growth rate (CAGR) of 20.5% between the years 2020 and 2027. This suggests that the adoption and integration of connected car technologies and services within the European automotive market is projected to rapidly increase over this period. The high CAGR reflects the growing demand for connected features such as in-car internet connectivity, navigation systems, advanced driver assistance systems, and vehicle-to-vehicle communication. This trend may be driven by factors such as technological advancements, increasing consumer preferences for connected services, and regulatory initiatives promoting the development of intelligent transportation systems.
Nearly 94% of consumers cite safety as the top benefit of connected cars.
The statistic stating that nearly 94% of consumers cite safety as the top benefit of connected cars indicates the high significance placed on safety features in the context of connected vehicle technology. Consumers appear to prioritize the safety aspects that come with connected cars, such as advanced driver assistance systems, real-time monitoring, and emergency response capabilities. This widespread concern for safety suggests that consumers are increasingly aware of the potential risks associated with driving and are seeking technological solutions to enhance their safety on the road. This statistic highlights the growing traction of safety features in the automotive industry, positioning it as a key driver of consumer adoption and acceptance of connected car technologies.
By the end of 2022, approximately 83% of all cars will be ‘connected’.
The statistic stating that approximately 83% of all cars will be ‘connected’ by the end of 2022 refers to the growing trend of vehicles being equipped with internet connectivity and data-sharing capabilities. This connectivity allows cars to communicate with each other, with infrastructure systems, and with external services, offering benefits such as real-time navigation updates, remote diagnostics, and autonomous driving features. The projection of 83% signifies a significant increase in the adoption of connected vehicle technology within the automotive industry, highlighting a shift towards more integrated and intelligent transportation systems. This statistic suggests that a vast majority of vehicles will be part of the Internet of Things (IoT), contributing to the development of smart cities and enhancing overall efficiency and safety in the transportation ecosystem.
54% of consumers are willing to pay monthly data fees for connected services in their cars.
The statistic ‘54% of consumers are willing to pay monthly data fees for connected services in their cars’ implies that a majority of consumers are open to the idea of paying additional fees for internet connectivity and other services in their vehicles. This finding suggests a growing demand for connected car technologies among consumers, indicating a potential shift in preferences towards more technologically advanced features in vehicles. The willingness to pay for such services could have implications for the automotive industry, prompting manufacturers to invest more in connected car technologies to meet consumer expectations and potentially increase revenue streams through subscription-based services.
By 2025, 98% of new cars will include telematics systems.
The statistic states that by the year 2025, 98% of new cars will come equipped with telematics systems. Telematics systems refer to technology that integrates telecommunications and information processing to provide functions such as GPS navigation, remote diagnostics, and connectivity services within vehicles. This trend suggests a rapidly increasing adoption of advanced technology in the automotive industry, highlighting the importance of connectivity and data collecting capabilities in modern vehicles. The widespread implementation of telematics systems in new cars by 2025 signifies a shift towards more connected and intelligent vehicles, which offer benefits such as improved safety features, enhanced driver assistance, and convenience for consumers.
More than 75% of millennials and 53% of baby boomers are willing to pay for connected car services.
Based on the statistic provided, it can be inferred that a higher proportion of millennials (individuals born roughly between 1981 and 1996) are willing to pay for connected car services compared to baby boomers (individuals born between 1946 and 1964). Specifically, more than 75% of millennials indicated a willingness to pay for these services, which suggests a strong interest in utilizing technology-driven features within their vehicles. In contrast, 53% of baby boomers expressed a similar willingness, highlighting a slightly lower level of interest among this older demographic group. This data indicates a potential generational divide in attitudes towards adopting connected car services, with younger individuals showing a greater propensity to embrace such technological advancements compared to their older counterparts.
17% of consumers are willing to switch automotive brands to have connectivity features.
This statistic indicates that approximately 17% of consumers are open to changing the automotive brand they currently use in order to have access to connectivity features in their vehicles. This suggests that connectivity features, such as Bluetooth integration, navigation systems, and mobile app compatibility, play a significant role in consumer preferences when purchasing a vehicle. The statistic highlights the importance of technological advancements in the automotive industry and the increasing demand for connected vehicles among consumers. Automakers may need to prioritize integrating these features in their vehicles to attract and retain customers who value connectivity in their driving experience.
By 2025, the connected car hardware market is expected to reach $40 Billion.
The statistic “By 2025, the connected car hardware market is expected to reach $40 Billion” indicates that the market for connected car hardware is projected to grow significantly in the next few years. This suggests a growing demand for technology that enables vehicles to be connected to networks, enabling features such as internet connectivity, navigation systems, and advanced safety features. This forecasted market value of $40 billion represents a substantial opportunity for companies operating in the connected car industry, highlighting the potential for innovation and investment in this sector as the automotive industry continues to evolve towards greater connectivity and automation.
In 2025, it’s expected that there will be 116 million connected cars in the US alone.
The statistic states that by the year 2025, it is anticipated that there will be approximately 116 million connected cars in the United States. This suggests a significant rise in the number of vehicles equipped with internet connectivity and advanced technologies such as GPS, sensors, and communication systems. The growing popularity of connected cars is likely driven by increasing consumer demand for features such as real-time navigation, telematics, and enhanced safety mechanisms. This statistic reflects the ongoing trend towards a more connected and technologically advanced transportation system, with potential implications for road safety, traffic management, and the overall automotive industry landscape.
14.5 billion alerts were delivered to connected cars in 2019.
The statistic ‘14.5 billion alerts were delivered to connected cars in 2019’ represents the total number of notifications or messages sent to connected cars throughout the year 2019. These alerts could include a wide range of information such as software updates, safety warnings, navigation guidance, or maintenance reminders. The sheer volume of alerts suggests a high level of interactivity and communication between the connected cars and their respective service providers or manufacturers. This statistic highlights the growing integration of technology and data-driven services in the automotive industry, underscoring the increasing reliance on connectivity to enhance the driving experience and ensure vehicle safety and efficiency.
86% of consumers do not want to pay extra for a connected car.
The statistic ‘86% of consumers do not want to pay extra for a connected car’ reflects a significant share of consumers who are not willing to incur additional costs for the integration of digital technology within their vehicles. This suggests a reluctance among the majority of consumers to prioritize advanced connectivity features when making purchasing decisions in the automotive market. The statistic implies that, at least for this particular group of consumers, the value proposition of connected car technology may not outweigh the perceived extra cost associated with it. This insight is valuable for car manufacturers and marketers seeking to understand consumer preferences and tailor their product offerings to align with market demands.
Nearly 67% of consumers will consider connectivity when buying a new car.
The statistic “Nearly 67% of consumers will consider connectivity when buying a new car” indicates that a majority of car buyers prioritize the feature of connectivity when making purchase decisions. This suggests that an increasing number of consumers value the ability to stay connected while on the go, whether it be through features such as Bluetooth connectivity, navigation systems, or integrated smartphone capabilities. Manufacturers and marketers in the automotive industry should take note of this trend and ensure that their vehicles offer robust connectivity options to meet the demands of the market. Furthermore, this statistic underscores the importance of technology and digital integration in the automotive sector and highlights the evolving preferences of modern consumers.
At present in North America, 35% of cars are connected cars.
The statistic ‘At present in North America, 35% of cars are connected cars’ indicates that 35% of vehicles in North America are equipped with technology that enables them to connect to the internet and communicate with other devices or networks. These connected cars can collect and transmit data, provide real-time navigation services, access entertainment options, and offer various safety and convenience features. The high proportion of connected cars suggests a growing trend towards the integration of digital technologies in the automotive industry, potentially leading to advancements in areas such as autonomous driving, vehicle-to-vehicle communication, and smart transportation systems.
The highest growth rate in the connected car market is expected in the Asia-Pacific region.
The statistic suggests that the Asia-Pacific region is anticipated to experience the most significant increase in the connected car market compared to other regions. This growth rate indicates a likely surge in the adoption of connected car technologies in countries within the Asia-Pacific region. Factors contributing to this high growth rate may include increasing technological advancements, rising disposable incomes, changing consumer preferences, and supportive government policies. As a result, companies involved in the connected car industry may focus on expanding their presence in the Asia-Pacific region to capitalize on the substantial growth opportunities expected in this market.
Infotainment applications dominated the connected vehicle market with a share of approximately 40% in 2019.
The statistic indicates that infotainment applications had the largest market share in the connected vehicle industry in 2019, accounting for approximately 40% of the total market. This suggests that a significant portion of connected vehicles were equipped with features that focus on providing entertainment and information to passengers. Infotainment applications typically include features such as navigation systems, multimedia interfaces, and internet connectivity for streaming music and videos. The dominance of infotainment applications in the market highlights the growing importance of technology and connectivity in vehicles, as well as the changing preferences of consumers towards more interactive and entertainment-focused experiences while on the road.
Hyundai, BMW, and Audi are among manufacturers leading in connected car technology.
The statistic “Hyundai, BMW, and Audi are among manufacturers leading in connected car technology” suggests that these three car manufacturers are at the forefront of developing and implementing technologies that allow cars to connect to the internet and other devices. Being leaders in connected car technology indicates that Hyundai, BMW, and Audi are investing in innovations such as in-car infotainment systems, remote vehicle control, and advanced driver assistance systems that rely on connectivity. This positions them as industry pioneers in enhancing the driving experience through smart and interconnected vehicles.
Conclusion
By examining the statistics and trends in the connected car industry, it is evident that the sector is rapidly evolving and experiencing significant growth. The data highlights the increasing adoption of connected car technology, the rise of electric vehicles, and the importance of data security and privacy. These insights offer valuable information for industry stakeholders, policymakers, and consumers to navigate the opportunities and challenges in this dynamic market.
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