India Connected Car Market (2023-2029) | Companies, Share, Industry, Revenue, COVID-19 IMPACT, Growth, Forecast, Trends, Size, Analysis & Value

India Connected Car Market Highlights

Report Name	India Connected Car Market
Base Year	2022
Historical Period	2019-2022
Forecast Period	2023-2029
Growth Rate (CAGR)	21.48%
Report Coverage	Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share
Segment Coverage	By Technology, By End Market
Customization Scope	100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com
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Topics Covered in the India Connected Car Market

India Connected Car Market report thoroughly covers the market by technology, by connectivity solutions, and by end market. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Connected Car Market Synopsis

India Connected Car Market has been growing rapidly in the country on the back of various growth proliferating factors such as growing customer demand, rapid urbanization, and integration of IoT into connected cars. Furthermore, Indian consumers seeking vehicles integrated with advanced connectivity features, like GPS navigation, smartphone integration, and telematics. These cars offer more convenience, leading to higher car adoption. Safety concerns have increased the demand for connected cars. As they facilitate automatic crash notification, remote vehicle tracking, and stolen vehicle recovery systems.

According to 6Wresearch, the India Connected Car Market size is anticipated to grow at a CAGR of around 21.48% during the forecast period 2023-2029 and it will reach the value of US$ 36.98% billion. The market growth is driven by various growing factors such as increasing population income, rising integration of IoT into cars, and growing safety & security concerns. IoT technology is being incorporated into vehicles to allow seamless connectivity between the car and other devices. This allows features such as remote vehicle monitoring and maintenance alerts. This is one of the significant factors driving the India Connected Car Market growth. Furthermore, As Indian cities continue to expand and face traffic congestion problems, there is a rising demand for upgraded transportation solutions, like connected cars as they offer real-time traffic updates and route optimization. However, infrastructure limitations and high-cost factors act as barriers to the market growth. Despite these challenges, the market is still growing due to automakers and technology companies providing subscription-based services for connected car features. This enables customers to select and customize their connectivity options.

COVID-19 Influence on the India Connected Car Market

The COVID-19 pandemic has had a significant influence on the India Connected Car Market which is a part of the Asia Pacific Connected Car Market. during the pandemic time, the connected cars demand was decreased due to the closure of all car’s outlets coupled with financial constraints led to postponed the customers buying decision for car purchase. These measures had resulted in decreased market shares & revenues. While post pandemic, the demand for connected cars was increased while ensuring the safety concerns, also, these cars facilitate several advanced features contactless payment options, remote diagnostics, and over-the-air software updates.

Key Players of the India Connected Car Market

Key players in the India Connected Car Market include well known companies, which include Tata Motors, Mahindra & Mahindra, and Maruti Suzuki have been actively investing in research and development to integrate advanced features into connected cars. Furthermore, startups like Ola Electric and Rivigo have entered the market with innovative solutions, focusing on electric and connected commercial vehicles, contributing to the evolving landscape of the India Connected Car Market.

Government Initiatives introduced in the India Connected Car Market

India connected car market 2023, reflects a massive growth in the country with increasing government measures promoting the connected cars. One prominent scheme is the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME), under which the government is offering incentives, motivating automakers to incorporate connected technologies into these ecofriendly vehicles. Smart cities initiative is also supporting the market growth indirectly, as this initiative seek for intelligent transportation solution, including connected car to manage traffic and reduce emission. Additionally, regulatory bodies such as the Ministry of Road Transport and Highways have been emphasizing on establishing guidelines for the safe adoption of connected car technologies, which ensures data privacy and cybersecurity. These measures are supporting the connected cars market to grow rapidly.

Market Analysis by Technology

According to Dhaval, Research Manager, 6Wresearch, the adoption of 5G in the India Connected Car Market is projected to surge as the infrastructure and technology becomes more accessible. However, it will take some time for 5G to become the leading cellular technology in the market underpinned by the need for widespread network coverage and the transition of vehicle fleets to newer connectivity standards. In the interim, 4G/LTE will likely remain the go-to choose for many connected car applications, offering a good balance between performance and availability.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Connected Car Market Outlook
• Market Size of India Connected Car Market, 2022
• Forecast of India Connected Car Market, 2029
• Historical Data and Forecast of India Connected Car Revenues & Volume for the Period 2019 - 2029
• India Connected Car Market Trend Evolution
• India Connected Car Market Drivers and Challenges
• India Connected Car Price Trends
• India Connected Car Porter's Five Forces
• India Connected Car Industry Life Cycle
• Historical Data and Forecast of India Connected Car Market Revenues & Volume By Technology for the Period 2019 - 2029
• Historical Data and Forecast of India Connected Car Market Revenues & Volume By 3G for the Period 2019 - 2029
• Historical Data and Forecast of India Connected Car Market Revenues & Volume By 4G/LTE for the Period 2019 - 2029
• Historical Data and Forecast of India Connected Car Market Revenues & Volume By 5G for the Period 2019 - 2029
• Historical Data and Forecast of India Connected Car Market Revenues & Volume By Connectivity Solutions for the Period 2019 - 2029
• Historical Data and Forecast of India Connected Car Market Revenues & Volume By Integrated for the Period 2019 - 2029
• Historical Data and Forecast of India Connected Car Market Revenues & Volume By Embedded for the Period 2019 - 2029
• Historical Data and Forecast of India Connected Car Market Revenues & Volume By Tethered for the Period 2019 - 2029
• Historical Data and Forecast of India Connected Car Market Revenues & Volume By End Market for the Period 2019 - 2029
• Historical Data and Forecast of India Connected Car Market Revenues & Volume By Original Equipment Manufacturer (OEMs) for the Period 2019 - 2029
• Historical Data and Forecast of India Connected Car Market Revenues & Volume By Aftermarket for the Period 2019 - 2029
• India Connected Car Import Export Trade Statistics
• Market Opportunity Assessment By Technology
• Market Opportunity Assessment By Connectivity Solutions
• Market Opportunity Assessment By End Market
• India Connected Car Top Companies Market Share
• India Connected Car Competitive Benchmarking By Technical and Operational Parameters
• India Connected Car Company Profiles
• India Connected Car Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Technology

• 3G
• 4G/LTE
• 5G

By Connectivity Solutions

• Integrated
• Embedded
• Tethered

By End Market

• Original Equipment Manufacturer (OEMs)
• Aftermarket