India Connected Cars Market Assessment, By Network [3G, 4G-LTE, 5G-LTE], By System Type [Embedded System, Tethered], By Components [Central Gateway, Head Unit, Electronic Control Unit (ECU), Telematics Control Unit (TCU), Others], By Vehicle Type [Internal Combustion Engines (ICE) Vehicle, Electric/Hybrid Vehicle], By Communication Type [Vehicle to Infrastructure, Vehicle to Vehicle, Vehicle to Pedestrian, Vehicle to Cloud], By Sales Channel [Original Equipment Manufacturer (OEM), After Market], By Application [Navigation, Safety, Entertainment], By Region, Opportunities and Forecast, FY2017-FY2031

India Connected Cars Market size was valued at USD 6.06 billion in FY2023 which is expected to reach USD 25.75 billion in FY2031 with a CAGR of 19.82% for the forecast period between FY2024 and FY2031.

Home>Industry Reports>India Connected Cars Market Assessment, Opportunities and Forecast, FY2017-FY2031

India Connected Cars Market size was valued at USD 6.06 billion in FY2023 which is expected to reach USD 25.75 billion in FY2031 with a CAGR of 19.82% for the forecast period between FY2024 and FY2031. The India connected cars market is experiencing significant growth and transformation, driven by advancements in automotive technology and increasing consumer demand for smart and connected vehicles. Connected cars refer to vehicles equipped with internet connectivity and integrated systems that provide enhanced safety, convenience, and entertainment features. The market is witnessing several latest trends and drivers. One prominent trend is the integration of Internet of Things (IoT) technology, enabling vehicles to connect with other devices and systems for seamless communication and data exchange. Another trend is the rise of telematics systems, allowing real-time tracking, remote diagnostics, and vehicle monitoring. Additionally, there is a growing focus on infotainment systems that provide entertainment and connectivity options, such as navigation, media streaming, and voice recognition.

Several drivers are fueling the growth of the India-connected cars market. Firstly, increasing consumer preference for advanced technologies and enhanced driving experiences is driving the demand for connected cars. Consumers are seeking features like smartphone integration, remote vehicle control, and predictive maintenance. Secondly, regulatory initiatives and government policies promoting road safety and vehicle connectivity are encouraging the adoption of connected car technologies. The implementation of Intelligent Transportation Systems (ITS) and the mandatory inclusion of features like emergency calling systems contribute to the market growth. Thirdly, the expanding 4G/5G network infrastructure and the decreasing costs of connectivity solutions are enabling wider accessibility to connected car services. Lastly, automotive manufacturers and technology companies are actively investing in research and development to develop innovative connected car solutions and form strategic partnerships to strengthen the connected car ecosystem. These drivers collectively contribute to the growth and development of the India connected cars market.

For instance, in 2023, MG Motor India has unveiled a groundbreaking alliance with Jio Platforms, a prominent digital services provider in India, with the objective of providing a wide array of connected car functionalities. The primary goal of this partnership is to bring about a transformative impact on the automotive sector by facilitating the seamless integration of Hinglish Voice Assistant-enabled experiences. This innovative collaboration is specifically targeted towards MG's recently launched Comet EV, which is commonly referred to as The Smart Electric Vehicle. Through this association, MG Motor India aims to revolutionize the automotive industry by offering advanced connected car features and enhancing the overall driving experience for its customers.

Rising Awareness of the Benefits of Connected Cars

The rising awareness of the benefits of connected cars is significantly impacting the India Connected Cars Market. As consumers become more informed about the advantages that connected car technologies offer, such as improved safety, convenience, and enhanced driving experiences, coupled with reducing emissions and optimizing energy usage, the demand for these vehicles is increasing. Connected cars provide features like real-time traffic information, predictive maintenance, emergency assistance, and seamless integration with smartphones, leading to a more connected and efficient driving experience. Additionally, the growing emphasis on environmental sustainability and energy efficiency has propelled the demand for connected electric vehicles (EVs) in India. The rising awareness and understanding of the benefits associated with connected cars are driving market growth as more consumers recognize their potential to transform the way we drive and interact with our vehicles.

For example, in 2022, MG Motor India has unveiled the key features of its i-SMART technology for the upcoming new ZS EV, emphasizing its advanced capabilities. With more than 75 connected car features, the i-SMART system promises to deliver a seamless and enhanced driving experience. This announcement showcases MG Motor's commitment to incorporating cutting-edge technology and connectivity options in their vehicles, catering to the growing demand for smart and connected cars in the Indian market.

Infrastructure Development

The expansion and improvement of the country's network infrastructure, particularly the 4G/5G network, are instrumental in enabling seamless connectivity for connected cars. A robust network infrastructure ensures reliable and high-speed data transmission, facilitating real-time communication and data exchange between vehicles, smart devices, and the cloud. Moreover, the availability of charging infrastructure for electric vehicles (EVs) is essential for the growth of connected EVs in India. The establishment of an extensive charging network across the country promotes the adoption of connected electric cars by addressing range anxiety and providing convenient charging options. Additionally, the development of smart cities and intelligent transportation systems (ITS) infrastructure, such as smart traffic management systems and vehicle-to-infrastructure (V2I) communication networks, enhances the overall connected car ecosystem and supports the integration of connected vehicles into the urban environment. The continuous improvement and expansion of infrastructure are crucial in realizing the full potential of the India-connected cars market. for example, in 2022, Tata Elxsi, a leading design and technology services provider, collaborated with V2X (Vehicle-to-Everything) technology to develop innovative solutions for connected vehicles. By integrating V2X technology into Tata Elxsi's offerings, the partnership aims to enable seamless communication between vehicles and the surrounding environment, enhancing safety, efficiency, and overall driving experience for users. This joint venture highlights the commitment to advancing connected car technologies and shaping the future of intelligent transportation systems.

Government Regulations

Government regulations and initiatives play a vital role in driving the adoption of connected car technologies in India. The Indian government has implemented several regulations aimed at enhancing road safety and improving vehicle connectivity. One such regulation is the mandatory implementation of emergency calling systems, commonly known as eCall. This system automatically alerts emergency services in the event of a collision, enabling prompt assistance and potentially saving lives. Additionally, the government has been actively promoting the deployment of Intelligent Transportation Systems (ITS) across the country. ITS encompasses various technologies, including connected car solutions, to improve the overall transportation system's efficiency, safety, and traffic management. These initiatives have created a favorable environment for automotive manufacturers and technology providers to develop and deploy connected car technologies in compliance with government regulations. By fostering the adoption of connected car technologies, the government is paving the way for a safer and more connected future of transportation in India.

Impact of COVID-19

The COVID-19 pandemic has had a significant impact on the India connected cars market. The country witnessed a severe economic slowdown due to lockdowns, travel restrictions, and reduced consumer spending during the pandemic. As a result, the demand for new vehicles, including connected cars, experienced a decline. Automotive manufacturers faced production disruptions and supply chain challenges, affecting the availability of connected car models. Moreover, consumers became more cautious about making large purchases, including vehicles, due to uncertain economic conditions. However, the pandemic also highlighted the importance of connected car technologies, such as remote diagnostics and contactless features, which can contribute to enhanced safety and convenience. As the situation gradually improves and the economy recovered, the India connected cars market rebounded, driven by the growing adoption of smart and connected vehicles.

Impact of Russia-Ukraine War

The Russia-Ukraine war had the potential to impact the India connected cars market in various ways. Firstly, the conflict disrupted the global supply chain, as many automotive components and technologies are sourced from international manufacturers, including those based in Russia and Ukraine. Disruptions in the supply chain led to delays in production and delivery of connected car models, affecting the availability of these vehicles in the Indian market. Additionally, trade uncertainties resulting from the war led to fluctuations in currency exchange rates and increased import costs, which may impact the pricing of connected cars. Furthermore, the overall economic uncertainty caused by the conflict results in a decline in consumer confidence and spending, potentially reducing the demand for connected cars in India.

India Connected Cars Market: Report Scope

“India Connected Cars Market Assessment, Opportunities and Forecast, FY2017-FY2031”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and  quantitative assessment of the current state of the connected cars market in India, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 and Russia-Ukraine war impact, opportunities and forecast between 2023 and 2030. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

 

Report Attribute

Details

Base Year of the Analysis

FY2023

Historical Period

FY2017-FY2022

Forecast Period

FY2024-FY2031

Projected Growth Rate

CAGR of 19.82% between FY2024-FY2031

Revenue Forecast in 2030

USD 25.75 billion

Units

Revenue in USD billion

Segments Covered

Network, System, Components, Vehicle, Communication, Sales Channel, Application

Regions Covered

North, South, East, West & Central

Key Companies Profiled

MG Motor India, Hyundai Motor Company, Kia Motors Corporation, Maruti Suzuki India Limited, Toyota Motor Corporation, Volkswagen Group, Mercedes-Benz India Pvt Ltd, BMW India Pvt. Ltd., Honda Motor Co., Volvo AG, Tata Motors

Customization Scope

15% free report customization with purchase

Pricing and Purchase Options

Avail the customized purchase options to fulfil your precise research needs

Delivery Format

PDF and Excel through email (subject to the license purchased)

 

In this report, India Connected Cars Market has been segmented into the following categories: 

1.       By Network

1.1.     3G

1.2.     4G-LTE

1.3.     5G-LTE

2.       By System Type

2.1.     Embedded System

2.2.     Tethered

3.       By Components

3.1.     Central Gateway

3.2.     Head Unit

3.3.     Electronic Control Unit (ECU)

3.4.     Telematics Control Unit (TCU)

3.5.     Others

4.       By Vehicle Type

4.1.     Internal Combustion Engines (ICE) Vehicle

4.2.     Electric/ Hybrid Vehicle

5.       By Communication Type

5.1.     Vehicle to Infrastructure

5.2.     Vehicle to Vehicle

5.3.     Vehicle to Pedestrian

5.4.     Vehicle to Cloud

5.5.     Others

6.       By Sales Channel

6.1.     Original Equipment Manufacturer (OEM)

6.2.     After Market

7.       By Application

7.1.     Navigation

7.2.     Safety

7.3.     Entertainment

8.       By Region

8.1.    North

8.2.    South

8.3.    East

8.4.    West & Central

Key Players Landscape and Outlook 

The key players in the India connected cars market are witnessing a promising outlook driven by the increasing demand for advanced automotive technologies. Major players in the market include Tata Motors, Maruti Suzuki India Ltd, Hyundai Motor India Ltd. These companies are actively investing in research and development to enhance connectivity features in their vehicles, such as IoT integration, telematics, and infotainment systems. Additionally, partnerships and collaborations with technology providers and telecommunications companies are being forged to expand the connected car ecosystem. With the rising consumer preference for smart and connected vehicles, the India connected cars market is expected to experience substantial growth in the coming years. 

For instance, in 2023, Mercedes-Benz India is utilizing artificial intelligence (AI) to enhance the quality and features of their luxury electric and connected vehicles, aiming to deliver an enhanced driving experience for their customers. This strategic implementation of AI underscores Mercedes-Benz India's commitment to technological advancement and superior automotive offerings. 

Key Players Operating in India Connected Cars Market are:

·         MG Motor India

·         Hyundai Motor Company

·         Kia Motors Corporation

·         Maruti Suzuki India Limited

·         Toyota Motor Corporation

·         Volkswagen Group

·         Mercedes-Benz India Pvt Ltd

·         BMW India Pvt. Ltd.

·         Honda Motor Co.

·         Volvo AG

·         Tata Motors

Markets and Data’s reports answer the following questions:

    What is the current and future market size of the product/service in question globally or specific to different countries?

    How are the markets divided into different product/service segments and the market size and growth of each segment?

    What is the market potential of different product segments and their investment case?

    How are the markets predicted to develop in the future and what factors will drive or inhibit growth?

    What is the business environment and regulatory landscape specific to the product/service?

If you can't find what you're searching for or have any custom requirements for India Connected Cars Market, you may approach our team at info@marketsandata.com

Table of Contents 

1.       Research Methodology

2.       Project Scope & Definitions

3.       Impact of Covid-19 on India Connected Cars Market

4.       Impact of Russia-Ukraine War

5.       Executive Summary

6.       Voice of Customer

6.1.    Demographics (Age, Geography, Income, etc.) 

6.2.    Brand Recognition and Recall Rate

6.3.    Factors Considered in Purchase Decision

6.3.1.Reliability 

6.3.2. Design and Safety Features

6.3.3. Technology and Entertainment

6.3.4.Repair and Maintenance

6.3.5.Roadside Assistance

6.3.6.Reviews and Recommendations 

6.4.    Product Customization

6.5.    Medium of Purchase for Add On Features 

7.       India Connected Cars Market Outlook, FY2017-FY2031 

7.1.    Market Size & Forecast

7.1.1.By Value

7.1.2.By Volume

7.2.    By Network

7.2.1. 3G

7.2.2. 4G-LTE

7.2.3. 5G-LTE

7.3.    By System Type

7.3.1. Embedded System

7.3.2. Tethered

7.4.    By Components

7.4.1. Central Gateway

7.4.2. Head Unit

7.4.3. Electronic Control Unit (ECU)

7.4.4. Telematics Control Unit (TCU)

7.4.5. Others

7.5.    By Vehicle Type

7.5.1. Internal Combustion Engines (ICE) Vehicle

7.5.2. Electric/ Hybrid Vehicle

7.6.    By Communication Type

7.6.1. Vehicle to Infrastructure

7.6.2. Vehicle to Vehicle

7.6.3. Vehicle to Pedestrian

7.6.4. Vehicle to Cloud

7.6.5. Others

7.7.    By Sales Channel

7.7.1. Original Equipment Manufacturer (OEM)

7.7.2. After Market

7.8.    By Application

7.8.1. Navigation

7.8.2. Safety

7.8.3. Entertainment

7.9.    By Region

7.9.1.North

7.9.2.South

7.9.3.East

7.9.4.West & Central

7.10.                     By Company Market Share (%), FY2023

8.       Market Mapping, FY2023

8.1.    By Network

8.2.    By System Type

8.3.    By Components

8.4.    By Vehicle Type

8.5.    By Communication Type

8.6.    By Sales Channel

8.7.    By Application

8.8.    By Region

9.       Macro Environment and Industry Structure

9.1.    Supply Demand Analysis

9.2.    Import Export Analysis

9.3.    Value Chain Analysis

9.4.    PESTEL Analysis

9.4.1.Political Factors

9.4.2.Economic System

9.4.3.Social Implications

9.4.4.Technological Advancements

9.4.5.Environmental Impacts

9.4.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)

9.5.    Porter’s Five Forces Analysis

9.5.1.Supplier Power

9.5.2.Buyer Power

9.5.3.Substitution Threat

9.5.4.Threat from New Entrant

9.5.5.Competitive Rivalry

10.   Market Dynamics

10.1.                     Growth Drivers

10.2.                     Growth Inhibitors (Challenges and Restraints)

11.   Key Players Landscape

11.1.                     Competition Matrix of Top Five Market Leaders

11.2.                     Market Revenue Analysis of Top Five Market Leaders (in %, FY2023)

11.3.                     Mergers and Acquisitions/Joint Ventures (If Applicable)

11.4.                     SWOT Analysis (For Five Market Players)

11.5.                     Patent Analysis (If Applicable)

12.   Pricing Analysis

13.   Case Studies

14.   Key Players Outlook

14.1.                      MG Motor India

14.1.1.    Company Details

14.1.2.    Key Management Personnel

14.1.3.    Products & Services

14.1.4.    Financials (As reported)

14.1.5.    Key Market Focus & Geographical Presence

14.1.6.    Recent Developments

14.2.                     Hyundai Motor Company

14.3.                     Kia Motors Corporation

14.4.                     Maruti Suzuki India Limited

14.5.                     Toyota Motor Corporation

14.6.                     Volkswagen Group

14.7.                     Mercedes-Benz India Pvt Ltd

14.8.                     BMW India Pvt. Ltd.

14.9.                     Honda Motor Co.

14.10.                  Volvo AG

14.11.                  Tata Motors

*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work

15.   Strategic Recommendations

16.   About Us & Disclaimer 

List of Figures: India Connected Cars Market

Figure 1. India Connected Cars Market, By Value, In USD Billion, FY2017-FY2031F

Figure 2. India Connected Cars Market, By Volume, In Unit Thousand, FY2017-FY2031F

Figure 3. India Connected Cars Market Share, By Networks, In USD Billion, FY2017-FY2031F

Figure 4. India Connected Cars Market Share, By System Type, In USD Billion, FY2017-FY2031F

Figure 5. India Connected Cars Market Share, By Components, In USD Billion, FY2017-FY2031F

Figure 6. India Connected Cars Market Share, By Vehicle Type, In USD Billion, FY2017-FY2031F

Figure 7. India Connected Cars Market Share, By Communication Type, In USD Billion, FY2017-FY2031F

Figure 8. India Connected Cars Market Share, By Sales Channel, In USD Billion, FY2017-FY2031F

Figure 9. India Connected Cars Market Share, By Application, In USD Billion, FY2017-FY2031F

Figure 10. India Connected Cars Market Share, By Region, In USD Billion, FY2017-FY2031F

Figure 11. By Networks Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 12. By System Type Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 13. By Components Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 14. By Vehicle Type Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 15. By Communication Type Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 16. By Sales Channel Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 17. By Application Map-Market Size (USD Billion) & Growth Rate (%), FY2023

Figure 18. By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2023

List of Tables: India Connected Cars Market

Table 1. Pricing Analysis of Products from Key Players

Table 2. Competition Matrix of Top 5 Market Leaders

Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)

Table 4. About Us - Region and Countries Where We Have Executed Client Projects

What is the market size and growth rate of the India Connected Cars Market?

arrowup
Heart

Japan Artificial Intelligence Market Assessment, Opportunities, and Forecast, FY2017-FY2031F

Japan's Artificial Intelligence market has been witnessing notable progress. The Japan Artificial Intelligence market is estimated to achieve a value of USD 15.84 billion by the fiscal year 2031, showing substantial growth from USD 5.95 billion in FY....Read More

Published on

December 2023

3,300

Heart

Vietnam Commercial Vehicle Market Assessment, Opportunities and Forecast, 2016-2030F

Vietnam Commercial Vehicle Market size was valued at USD 3.07 billion in 2022 which is expected to reach USD 5.84 billion in 2030 with a CAGR of 8.37% for the forecast period between 2023 and 2030. ....Read More

Published on

December 2023

3,300

Heart

Japan Internet of Things Market Assessment, Opportunities and Forecast, FY2017-FY2031

Japan Internet of Things Market size is valued at USD 11.71 billion in FY2023, expected to reach USD 50.08 billion in FY2031 with a CAGR of 19.92% for the forecast period between FY2024 and FY2031.....Read More

Published on

December 2023

3,300

Heart

Japan Ready-To-Eat Food Market Assessment, Opportunities, and Forecast, FY2017-FY2031F

Japan Ready-To-Eat Food Market is expected to witness a CAGR of 4.03% during the forecast period FY2024-FY2031. The market was valued at USD 8.14 billion in FY2023 and is anticipated to reach USD 11.17 billion by FY2031.....Read More

Published on

December 2023

3,300

Purchase Options

USD ($)

arrowdown

i

2,000

i

3,300

i

4,500

i

7,000

Tired of Searching?

Looking for Customization?

Some other doubt?

Need insights from a cohort?

REACH US

    icon_Five
    17, Okhla Industrial Estate Phase 3 Rd, Okhla Phase III, Okhla Industrial Estate, New Delhi, Delhi 110020
    call_Two
    +91 11 42343567
    icon_Six
    info@marketsandata.com
icon_Seven
5741 Cleveland street, Suite 120, VA beach, VA, USA 23462
call_Three
+1 (757) 343-3258
icon_Eight
190 Middle Road, # 14-10 Fortune Centre, Singapore -188979