India Connected Car Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | > 20.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Connected Car Market Analysis
The India Connected Car Market is expected to register a CAGR of greater than 20% during the forecast period.
The connected car market is still in its nascent stage in India. It is expected to grow at a much faster rate, as the industry participants are looking at this market full of potential. As electric vehicles are making their way on the Indian roads, connected cars will also soon become part of the Indian market.
India has an ambitious target of becoming an all-electric vehicle nation by 2030. In the process of mass adoption of electric vehicles in the country, the government has announced its plan to introduce 10,000 electric buses and 50,000 electric rickshaws within the next few years.
The connected car requires access to the internet for its smooth functionality. As a result, many players that have launched their connected cars in India have collaborated with telecom companies to make connected cars a reality in the Indian market. For instance, MG India partnered with Airtel for connected mobility solutions with an e-SIM, and the company claims that it is Internet Protocol Version 6 (IPV6) ready for 5G.
All these ongoing developments are expected to drive the growth of the connected car market in India during the forecast period.
India Connected Car Market Trends
Embedded Segment Leading the Market
The embedded segment is the leading connectivity type in India's connected car market, primarily due to several factors. Embedded connectivity solutions offer a more seamless and integrated experience for users. Unlike tethered or brought-in solutions, embedded connectivity is built into the vehicle's architecture from the ground up. This integration ensures a smoother and more reliable connection, as well as better compatibility with the vehicle's systems and interfaces.
In addition, embedded connectivity solutions offer enhanced data security and privacy. With data transmission occurring directly between the vehicle and the cloud, there is less risk of data breaches or unauthorized access compared to tethered solutions that rely on personal devices. This heightened security is crucial in the Indian market, where concerns over data privacy are growing, and regulations around data protection are becoming more stringent.
Moreover, the embedded segment aligns well with the Indian government's push for localized manufacturing and self-reliance. By integrating connectivity solutions into their vehicles during the manufacturing process, automakers can reduce their reliance on imported technologies and components, thereby supporting the government's 'Make in India' initiative.
- In September 2023, Taisys India launched the iConnect platform by collaborating with Lumax Ituran Telematics Pvt. Ltd, a global automotive telematics solution provider for OEMs. The platform is a combination of advanced IoT technology, seamless connectivity, and alignment of the connected device supply chain.
Passenger Cars Segment Driving Growth
The increasing adoption of smartphones and mobile internet has created a demand for seamless connectivity and digital experiences within vehicles. Passengers, especially in urban areas, expect their cars to provide the same level of connectivity and access to digital services as their personal devices. Car manufacturers have responded by integrating advanced infotainment systems, smartphone mirroring technologies, and internet connectivity in their passenger car models.
The passenger car segment caters to a more affluent and tech-savvy customer base in India. These customers are willing to pay a premium for advanced features and services, including connected car technologies. Automakers have recognized this demand and are offering a range of connected car services, such as remote vehicle monitoring, real-time diagnostics, and over-the-air software updates, as value-added offerings in their premium passenger car models.
Furthermore, the growth of ride-sharing and mobility services in India has also contributed to the demand for connected passenger cars. These services often require real-time data exchange between vehicles and central platforms, making connectivity a crucial component. As a result, ride-sharing companies and fleet operators are increasingly seeking connected car solutions, further fueling the growth of the connected passenger car market in India.
India Connected Car Industry Overview
The Indian connected car market is highly consolidated and has limited global players active in the market. Although the established local players in the market are trying to introduce their connected vehicle models, new companies are coming with their technology and marking their presence in the market.
For instance, in April 2024, Mahindra & Mahindra introduced the XUV 3XO with upgraded features like new design elements, a larger infotainment system, and a new engine variant. The company is preparing to expand its portfolio.
India Connected Car Market Leaders
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MG Motor UK Limited
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Hyundai Motor Company
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Kia Motors Corporation
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Maruti Suzuki India Limited
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Toyota Motor Corporation
*Disclaimer: Major Players sorted in no particular order
India Connected Car Market News
- April 2024: Tata Motors launched the innovative Harman Ignite Platform in its passenger vehicles, which is fully compliant with the Android Automotive Operating System (AAOS) standard that connects OEMs with developers to provide consumers with unique in-vehicle digital experiences.
- April 2024: Kia Motors confirmed the expected launch of the EV9 electric SUV and the new-gen Carnival in 2024. The EV9 will be equipped with features such as a Level 2 ADAS suite, dual digital screens, connected car technology, electrically adjustable seats for the second row, a powered tailgate, and multi-zone climate control, among other features.
India Connected Car Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Rising Disposable Income
4.2 Market Restraints
4.2.1 Increase in the Threat of Data Breach and Cyber Security for Connected Vehicles
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application Type
5.1.1 Driver Assistance
5.1.2 Telematics
5.1.3 Infotainment
5.1.4 Other Application Types
5.2 By Connectivity Type
5.2.1 Integrated
5.2.2 Embedded
5.2.3 Tethered
5.3 By Vehicle Connectivity
5.3.1 Vehicle-to-Vehicle (V2V)
5.3.2 Vehicle-to-Infrastructure (V2I)
5.3.3 Vehicle-to-Pedestrain (V2P)
5.4 By Vehicle Type
5.4.1 Passenger Cars
5.4.2 Commercial Vehicle
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 MG Motor UK Limited
6.2.2 Hyundai Motor Company
6.2.3 Kia Motors Corporation
6.2.4 Maruti Suzuki India Limited
6.2.5 Toyota Motor Corporation
6.2.6 Nissan Motor Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Customized Solutions are Being Offered by the Emerging Players
India Connected Car Industry Segmentation
A connected car is a vehicle that is equipped with internet access and wireless connectivity, allowing it to share data with other devices, systems, and networks. This connectivity enables a range of features and services, such as real-time traffic updates, remote vehicle diagnostics, and infotainment streaming.
The Indian connected car market is segmented by application, connectivity form, vehicle connectivity, and vehicle type. By application, the market is segmented into driver assistance, telematics, infotainment, and other applications. By connectivity form, the market is segmented into integrated, embedded, and tethered. By vehicle connectivity, the market is segmented into vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and vehicle-t-pedestrian (V2P). By vehicle type, the market is segmented into passenger cars and commercial vehicles. The report offers market size and forecasts for all the above segments in terms of value (USD).
| By Application Type | |
| Driver Assistance | |
| Telematics | |
| Infotainment | |
| Other Application Types |
| By Connectivity Type | |
| Integrated | |
| Embedded | |
| Tethered |
| By Vehicle Connectivity | |
| Vehicle-to-Vehicle (V2V) | |
| Vehicle-to-Infrastructure (V2I) | |
| Vehicle-to-Pedestrain (V2P) |
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicle |
India Connected Car Market Research FAQs
What is the current India Connected Car Market size?
The India Connected Car Market is projected to register a CAGR of greater than 20% during the forecast period (2024-2029)
Who are the key players in India Connected Car Market?
MG Motor UK Limited, Hyundai Motor Company, Kia Motors Corporation, Maruti Suzuki India Limited and Toyota Motor Corporation are the major companies operating in the India Connected Car Market.
What years does this India Connected Car Market cover?
The report covers the India Connected Car Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Connected Car Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Connected Car Industry Report
Statistics for the 2024 India Connected Car market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Connected Car analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
