At 20.0% CAGR, Middle East & Africa Connected Vehicle Market is Projected to be Worth US$ 16,112.98 million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa connected vehicle market was valued at US$ 3,748.65 million in 2022 and is expected to reach US$ 16,112.98 million by 2030, registering a CAGR of 20.0% from 2022 to 2030. Growing demand for driving assistance system is the critical factor attributed to the Middle East & Africa connected vehicle market expansion.

The advancement of Advanced Driver Assistance Systems (ADAS) has positively impacted the connected vehicle market, reshaping the automotive landscape in several significant ways. ADAS is a powerful catalyst for the increased adoption of connected vehicle technology. These systems, comprising features such as adaptive cruise control, blind-spot monitoring, and automated parking assistance, have garnered immense attention for their potential to enhance road safety. As a result, consumers are valuing and actively seeking vehicles equipped with ADAS. This surge in demand is driving automakers to integrate more sophisticated connectivity features into their cars. For instance, as per the study done by the American Automobile Association, ~40% of US consumers expect at least one driver support system. As a result of such demand, the country has more than 60 million vehicles equipped with the ADAS system. Automakers are also investing significantly in building robust, high-speed communication networks within vehicles, a critical component for the seamless operation of ADAS. This investment in connectivity infrastructure is simultaneously driving advancements in the broader connected vehicle market. For instance, in 2018, BMW invested capital in Blackmore Sensors and Analytics, Inc., which manufactures frequency-modulated continuous wave (FMCW) lidar for the automotive industry. Blackmore used the investment to scale the production of its FMCW lidar sensor for advanced driver assistance systems (ADAS) and self-driving markets. In addition, in 2021, Volkswagen Group partnered with Microsoft to fast-track the development of automated driving.

On the contrary, data privacy and security concerns hurdles the growth of Middle East & Africa connected vehicle market.

Based on technology, the Middle East & Africa connected vehicle market is categorized into 5G, 4G/LTE, and 3G & 2G. The 4G/LTE segment held 78.7% market share in 2022, amassing US$ 2,950.52 million. It is projected to garner US$ 10,082.11 million by 2030 to expand at 16.6% CAGR during 2022-2030.

In terms of connectivity, the Middle East & Africa connected vehicle market is categorized into integrated, tethered, and embedded. The embedded segment held 38.3% share of Middle East & Africa connected vehicle market in 2022, amassing US$ 1,434.62 million. It is projected to garner US$ 5,623.34 million by 2030 to expand at 18.6% CAGR during 2022-2030.

By application, the Middle East & Africa connected vehicle market is categorized into telematics, infotainment, driving assistance, and others. The infotainment segment held 40.9% share of Middle East & Africa connected vehicle market in 2022, amassing US$ 1,533.31 million. It is projected to garner US$ 6,369.38 million by 2030 to expand at 19.5% CAGR during 2022-2030.

Based on country, the Middle East & Africa connected vehicle market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 32.0% share of Middle East & Africa connected vehicle market in 2022. It was assessed at US$ 1,199.14 million in 2022 and is likely to hit US$ 5,010.22 million by 2030, exhibiting a CAGR of 19.6% during the 2022-2030 period.

Key players operating in the Middle East & Africa connected vehicle market are AT & T, Audi AG, Bayerische Motoren Werke AG, Continental AG, Denso, General Motors Co, Harman International Industries Inc, Robert Bosch GmbH, and Vodafone Group Plc, among others.

• In August 2023, since 2022, G.M. has used a product called the OnStar Interactive Virtual Assistant (IVA), which is powered by Google's Cloud conversation A.I. software, to provide OnStar users with personalized solutions to inquiries like routing and navigation assistance. Dialogflow, Google Cloud's conversational A.I. platform, is currently managing over 1 million customer requests per month on OnStar in the United States and Canada.
  
  
• In October 2022, Amazon Web Services and the BMW Group entered into a partnership to develop cloud software to distribute and manage data generated by connected vehicles. The software is intended to gather vehicle data from many sources in order to accelerate feature development and improve software life cycle management.
  
  

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