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Connected Vehicle Technology Market Size - By Technology, By Vehicle, By Application, By End Use, Share, Growth Forecast, 2025 - 2034
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Connected Vehicle Technology Market
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Base Year: 2024
Companies covered: 20
Tables & Figures: 200
Countries covered: 21
Pages: 180
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Connected Vehicle Technology Market Size
The global connected vehicle technology market size was valued at USD 35.9 billion in 2024 and is projected to grow at a CAGR of 10.9% between 2025 and 2034. The rise in incentives, such as tax credits for the integration of safety habits or automobile subsidies, has led many consumers and manufacturers to engage in the latest vehicle tech.
As a direct result, countries are starting to take action by introducing stricter regulations and incentives that push for increased use of connected vehicle technologies. Such a change can be regarded as a great advancement since it promotes the development of connected cars and smart cars which can be integrated firmly within the automotive online contact ecosystem.
An example where the trend is observed is present in the actions taken by the Federal Communications Commission (FCC) when it supported C-V2X technology with the release of Second Report and Order in November 2024. This focus is meant to modernize vehicle construction and safety, guaranteeing active coordination from both the vehicle manufacturing industry and the government.
The connected vehicle technology market owes a great debt of gratitude to ever-growing consumers' expectations surrounding safety features that should be integrated into vehicles. Both sides of the market began putting more emphasis on safety, leading to the integration of advanced vehicle tech such as driver assistance systems and vehicle diagnostic tools. Emergency brakes, lane detectors, and collision avoidance systems are becoming standard features within vehicles, which has led to the increased demand for construction of smart automobiles that are able to ensure maximum safety for all of the passengers.
Connected Vehicle Technology Market Trends
Connected Vehicle Technology Market Analysis
In the market for connected vehicle technologies, the classification according to the type of technology used includes V2X communication and embedded systems, with the latter being the dominant technology in 2024.
In the connected vehicle technology market, the OEM and Aftermarket are the end-users, and OEM segment held market share of 73.8% in 2024. This is due to the increasing emphasis placed on the development of A3 information systems.
China is expected to lead the market for connected vehicle technology market and generate revenue of around USD 20 billion by 2034, and the trends also indicate positive growth in the market. Strong operations from the advertising industry, alongside multiple new vehicle sales being made are the pivotal aspects propelling growth in the graph.
Connected Vehicle Technology Market Share
Connected Vehicle Technology Market Companies
Major players operating in the connected vehicle technology industry are:
Connected Vehicle Technology Market News
The Connected Vehicle Technology market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($Bn) from 2021 to 2034, for the following segments:
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Market, By Technology
Market, By Vehicle
Market, By Application
Market, By End use
The above information is provided for the following regions and countries: