The market for connected cars covers manufacturing and sale of hardware for connected vehicles and development of software solutions for in-vehicle infotainment (IVI) systems, real-time navigation, driverless technology, etc.
A car is considered "connected" or "smart" if it was originally designed to have direct connection to the Internet and, thus, interact with other vehicles, smartphones, wearable gadgets and the environment.
While global connected car markets are evolving at a rapid pace with innovative developments coming from the leading automotive brands, they differ from country to country in terms of consumer spending, generated revenue, penetration, etc.
I've retrieved connected car market data from the recent Statista report and put them together to see how the market in the United States is different from that in the UK, Norway and Germany.
From a global comparison perspective the United States generates most revenue from connected cars so far (see below).
|Expected annual growth rate
|Expected market volume
|United States||8,315 mln||27.3%||21,845 mln||4.2%||11.7%||"Safety & Driving Assistance" with a market volume of $4,545.7 mln in 2016|
|UK||2,069 mln||35.3%||6,951 mln||3.34%||15.8%||"Safety & Driving Assistance" with a market volume of $1,257.7 mln in 2016|
|Germany||3,133 mln||27%||8,173 mln||4,29%||17,7%||"Safety & Driving Assistance" with a market volume of $1,744 mln in 2016|
|Norway||155.0 mln||29.3%||433.5 mln||3.34%||13.65%||"Safety & Driving Assistance" with a market volume of $87.3 mln in 2016|
Contrary to popular belief that in-vehicle infotainment (IVI) is the largest segment within the connected car market, Statista data shows that smart car manufacturers are most concerned with driving safety and navigation assistance.