From GlobeNewswire: 2024-11-18 09:00:00

The on-board connectivity market is booming, set to grow from USD 10.01 billion in 2023 to USD 27.67 billion by 2032, with a CAGR of 11.97%. This growth is fueled by the rise in autonomous vehicles, connected car technologies, and advanced infotainment systems, driven by consumer demand for seamless, high-speed connections and innovative technologies like 5G and IoT.

Government regulations and consumer demand for safety features like automatic emergency braking systems are further boosting the market. The rapid expansion of electric vehicles is also driving the need for robust on-board connectivity to manage battery performance and connect with smart charging networks. Shared mobility services like ride-sharing are contributing to market growth by enhancing the customer experience through connectivity solutions.

The major players in the on-board connectivity market include Qualcomm, Intel, Harman International, Robert Bosch, Panasonic, Continental AG, Valeo, Denso Corporation, and more. These companies offer a range of connectivity solutions for vehicles, including 5G telematics, connected vehicle cloud services, V2X communication systems, and IoT modules.

The market scope of on-board connectivity spans across regions like North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Key growth drivers include the popularity of features like remote vehicle management, the adoption of IoT technologies, and the increasing demand for continuous connectivity in vehicles for real-time data access, navigation, and entertainment.

The transportation industry dominated the on-board connectivity market in 2023, driven by the increasing adoption of connected vehicle technology and IoT solutions for safety and navigation. The entertainment segment is expected to register the highest CAGR during the forecast period, fueled by the demand for personalized in-car entertainment and the rollout of 5G networks. Connected vehicles are transforming the way travelers experience entertainment on the go, with features like movie-watching, music enjoyment, and gaming. The on-board connectivity market is set for significant growth due to new technology and consumer demand for in-vehicle entertainment experiences. North America leads in revenue share, driven by connected vehicles and technological advancements, with the U.S. at the forefront of development in Wi-Fi, Navigation, and V2X solutions. Meanwhile, the Asia-Pacific region is expected to experience the highest growth rate, fueled by increased production of automobiles and the development of 5G technology. Recent partnerships between companies like Qualcomm and BMW, as well as Ford and Google, are integrating advanced connectivity solutions in vehicles to enhance driver assistance and infotainment capabilities. For more information and detailed analysis, visit the link provided. SNS Insider offers services such as Go To Market Assessment, Total Addressable Market Assessment, and Competitive Benchmarking to help businesses navigate the changing market landscape. 1. The stock market experienced a significant drop today, with the Dow Jones Industrial Average falling by 500 points. Investors are concerned about rising inflation rates and potential interest rate hikes by the Federal Reserve.

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