Global Connected Car Devices Market to Reach $262.1 Billion by 2030
The global market for Connected Car Devices estimated at US$88.2 Billion in the year 2023, is expected to reach US$262.1 Billion by 2030, growing at a CAGR of 16.8% over the analysis period 2023-2030. Driver Assistance Systems, one of the segments analyzed in the report, is expected to record a 16.8% CAGR and reach US$109.3 Billion by the end of the analysis period. Growth in the Telematics segment is estimated at 17.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $27.1 Billion, While China is Forecast to Grow at 15.9% CAGR
The Connected Car Devices market in the U.S. is estimated at US$27.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$44.2 Billion by the year 2030 trailing a CAGR of 15.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.9% and 14.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 12.3% CAGR.
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