Connected car market expected to see 13.3% CAGR from now through 2030

This could be good news for Apple’s CarPlay: the Connected Car Market is estimated to grow from USS$12.4 billion in 2024 to $26.4 billion by 2030, at a compound annual growth rate (CAGR) of 13.3%, according to a new report by MarketsandMarkets. 

The research group says that government initiatives towards developing intelligent transportation networks and the growing trend of in-vehicle connectivity solutions are two factors influencing the growth of the worldwide connected car market. Also, the consumer demand for a safer, more convenient, and entertaining driving experience is a significant driver. 

MarketsandMarkets says this aligns with stricter safety regulations and government support for connected car technology. Advancements in 5G infrastructure are crucial for enabling features like real-time traffic updates and autonomous driving. Consequently, the market for linked cars is anticipated to develop significantly, per MarketsandMarkets.

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