How big is the Asia-Pacific Connected Cars Market?

The Asia-Pacific Connected Cars Market size is expected to reach USD 30.42 billion in 2024 and grow at a CAGR of 16.76% to reach USD 66.01 billion by 2029. Read More

What is the current Asia-Pacific Connected Cars Market size?

In 2024, the Asia-Pacific Connected Cars Market size is expected to reach USD 30.42 billion. Read More

Who are the key players in Asia-Pacific Connected Cars Market?

Continental AG, Robert Bosch GmbH, ZF Friedrichshafen, Aptiv PLC and Hyundai Motor Group are the major companies operating in the Asia-Pacific Connected Cars Market. Read More

What years does this Asia-Pacific Connected Cars Market cover, and what was the market size in 2023?

In 2023, the Asia-Pacific Connected Cars Market size was estimated at USD 25.32 billion. The report covers the Asia-Pacific Connected Cars Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Connected Cars Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Asia-Pacific Connected Cars Market Share

Statistics for the 2023 & 2024 Asia-Pacific Connected Cars market share, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Connected Cars share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Asia-Pacific Connected Cars Industry

The Asia-Pacific Connected Cars Market is fragmented and highly competitive, with the presence of various domestic and international players operating in the market. The market is characterized by the presence of considerably large players as well as new technology startups. Some of the major players operating in the market include Continental AG, Hyundai Motor Group, Robert Bosch GmbH, ZF Friedrichshafen, Aptiv PLC, Denso Corporation, SAIC Motor Corporation, and NXP Semiconductors, among others. These players actively engage in joint ventures, mergers and acquisitions, new product launches, and product development to expand their brand portfolios and cement their market positions.

In December 2022, Tata Motor, an India-based automotive manufacturer, announced that it would showcase new developments in the fields of connected car technology, advanced driver assistance system (ADAS), and hydrogen as a fuel alternative at the Auto Expo 2023.
In September 2022, Changan Automobile launched a new brand 'Zhuge Intelligence' which will offer four vehicle connectivity services: navigation, cruise control, parking detection, and escort. The company also unveiled CD701 Prototype, its first vehicle built on its new SDA platform.
In March 2022, Hyundai inaugurated its first manufacturing facility in ASEAN located at Cikarang in Indonesia, with an investment of USD 1.55 billion and an annual capacity of 250,000 units. The facility will produce new models like Creta, Santa Fe, Tucson, Stargazer, and IONIQ 5, which will be equipped with the latest connectivity features.

The market is anticipated to witness the launch of advanced connectivity technology features in the coming years. It is because the companies operating in this space are trying to gain a competitive edge with the diversification of their product portfolio across the Asia-Pacific region.