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Based on technology, global connected car market is categorized into three categories, including 2G/3G, 4G/LTE, and 5G. Among these, 5G technology is expected to witness the highest CAGR during the forecast period. Furthermore, the demand in navigation application is expected to witness the fastest growth with a CAGR of around 25% during the forecast period.
Global connected car market size is projected to reach USD 198,459.7 million by 2025.
U.S. is the largest market for connected car globally.
Demand for enhanced driving experience, growing concern for safety and security, and introduction of internet of things (IoT) in automotive industry is driving the connected car market in coming years.