Global Connected Car Market Forecast Report to 2030: Intelligent Antennas in the Hardware Segment Forecast to be the Fastest-Growing Market
The global connected car market is rapidly expanding, driven by the increasing demand for advanced safety features, enhanced user convenience, and seamless connectivity solutions. According to a recent report by ResearchAndMarkets.com, the market is estimated to grow from USD 12.4 billion in 2024 to USD 26.4 billion by 2030, at a CAGR of 13.3%.
One of the key factors contributing to this growth is the adoption of intelligent antennas in the hardware segment. Intelligent antennas are the fastest-growing segment in the connected car market, driven by the demand for advanced safety features, comfort, and vehicle connectivity. Major players in the industry, such as HELLA GmbH & Co. KGaA, Robert Bosch GmbH, TE Connectivity, Continental AG, and Ficosa Group, are actively developing and integrating intelligent antennas into vehicles to support the growing demand for connected car features.
The introduction of 5G-enabled antennas is a significant development in the market, offering higher data transfer rates and lower latency to support applications like advanced driver-assistance systems (ADAS) and sophisticated infotainment systems. For example, BMW Group and Telekom launched in-car 5G connectivity and Personal eSIM networking options, marking a milestone in integrating 5G technology into production vehicles.
Infrastructure development, such as the growth of 5G networks, is creating a conducive environment for the widespread adoption of intelligent vehicle antennas. Companies like Verizon have partnered with Robert Bosch to develop a 5G-enabled traffic management system that uses intelligent antennas to collect real-time data on traffic conditions and road hazards.
Consumer demands for comfort, safety, and connectivity are driving the adoption of intelligent vehicle antennas. OEMs are responding to these demands by integrating advanced antenna systems into their cars to support various applications, including V2X communication, infotainment systems, and ADAS. The intelligent antenna market is expected to grow significantly, with the Asia Pacific region emerging as the fastest-growing market, driven by the increasing adoption of connected car technologies in countries like China and India.
In Europe, the connected car market is the third fastest-growing region, with increasing consumer demand for advanced driver assistance systems (ADAS), in-car infotainment, and vehicle-to-everything (V2X) communication technologies. The region has seen substantial investments in research and development (R&D) and infrastructure to support the development of connected and autonomous vehicle technologies. Initiatives like the Cooperative Intelligent Transport Systems (C-ITS) directive and the European Commission’s strategy for sustainable and smart mobility are driving the growth of the connected car market in Europe.
Overall, the global connected car market is poised for significant growth, driven by technological advancements, consumer demand, and supportive regulatory frameworks. The adoption of intelligent antennas and 5G technology is reshaping the automotive industry, paving the way for a more connected and efficient future on the roads.