Internet of Cars - Global Strategic Business Report

The global market for Internet of Cars was valued at USD 323.2 Billion in 2024 and is projected to reach USD 865.7 Billion by 2030, growing at a CAGR of 17.8% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Internet of Cars Market - Key Trends & Drivers Summarized

What Is the Internet of Cars and Why Is It Revolutionizing the Automotive Industry?

The Internet of Cars, also known as the connected car ecosystem, refers to the integration of internet connectivity, data analytics, and digital technologies into vehicles, enabling them to communicate with other vehicles, infrastructure, and cloud services. This connectivity is revolutionizing the automotive industry by transforming vehicles into smart, data-driven platforms that offer enhanced safety, convenience, and efficiency. Through the Internet of Cars, vehicles can access real-time traffic updates, receive remote diagnostics, and enable advanced driver assistance systems (ADAS), among other capabilities. This interconnected ecosystem is not only improving the driving experience but also paving the way for the development of autonomous vehicles and new business models in mobility services.

How Are Technological Advancements Shaping the Internet of Cars Market?

Technological advancements are significantly shaping the Internet of Cars market, particularly through innovations in vehicle-to-everything (V2X) communication, 5G connectivity, and artificial intelligence. V2X communication, which includes vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and vehicle-to-cloud (V2C) interactions, is enhancing road safety and traffic management by enabling vehicles to share real-time information with each other and surrounding infrastructure. The rollout of 5G networks is providing the high-speed, low-latency connectivity needed to support the vast amounts of data generated by connected cars, enabling more reliable and responsive interactions. Advances in artificial intelligence and machine learning are powering the development of smart features such as predictive maintenance, personalized in-car experiences, and autonomous driving capabilities. These technological trends are driving the adoption of the Internet of Cars, as automakers and technology companies collaborate to create a more connected and intelligent transportation ecosystem.

Why Is There an Increasing Demand for the Internet of Cars Across the Automotive Industry?

The demand for the Internet of Cars is increasing across the automotive industry due to the growing consumer expectation for connected and smart vehicles, as well as the industry's push towards greater safety, efficiency, and automation. Consumers are increasingly seeking vehicles that offer seamless integration with their digital lives, including features like in-car entertainment, navigation, and remote access through mobile apps. The automotive industry is also leveraging the Internet of Cars to enhance vehicle safety through the development of advanced driver assistance systems (ADAS) that rely on real-time data and connectivity. Additionally, the rise of shared mobility and ride-hailing services is driving demand for connected cars that can optimize fleet management and provide real-time tracking and diagnostics. As the automotive industry continues to evolve towards autonomous driving and smart mobility solutions, the demand for the Internet of Cars is expected to grow.

What Factors Are Driving the Growth in the Internet of Cars Market?

The growth in the Internet of Cars market is driven by several factors related to technological advancements, consumer demand, and the automotive industry's transformation. One of the primary drivers is the increasing adoption of connected vehicle technologies, which offer enhanced safety, convenience, and entertainment features that appeal to modern consumers. The development of 5G networks is also a significant growth factor, as it provides the necessary infrastructure to support the high-speed data transmission required for real-time vehicle communication and autonomous driving. The automotive industry's focus on developing advanced driver assistance systems (ADAS) and autonomous vehicles is further propelling the market, as these technologies rely heavily on connectivity and data analytics. Additionally, the growing trend towards shared mobility and the rise of smart cities are creating new opportunities for the Internet of Cars, as connected vehicles become integral to the future of urban transportation. As these trends continue to shape the automotive landscape, the Internet of Cars market is expected to experience sustained growth, driven by the need for more connected, intelligent, and efficient transportation solutions.

Report Scope

The report analyzes the Internet of Cars market, presented in terms of market value (USD Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments

Component (Services, Software, Hardware); Communication Type (Vehicle-To-Vehicle, Vehicle-To-Infrastructure, Other Communication Types); Technology (Wi-Fi, Bluetooth, NFC, Cellular, Other Technologies).

Geographic Regions/Countries

World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Internet of Cars Services segment, which is expected to reach $458.9 Billion by 2030 with a CAGR of a 17.8%. The Internet of Cars Software segment is also set to grow at 18.5% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $90.5 Billion in 2024, and China, forecasted to grow at an impressive 16.8% CAGR to reach $130 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in USD from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as Bosch Software Innovations GmbH, Cisco Systems, Inc., General Electric Company, Google LLC, IBM Corporation and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Internet of Cars Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Internet of Cars Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Internet of Cars Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Some of the 11 major companies featured in this Internet of Cars market report include:

• Bosch Software Innovations GmbH
• Cisco Systems, Inc.
• General Electric Company
• Google LLC
• IBM Corporation
• Infineon Technologies AG
• Microsoft Corporation
• Oracle Corporation
• SAP SE
• Symantec Corporation
• Tesla Motors, Inc.