Synopsis
India is leading the connected car market with a significant 25% YoY growth in 2024. This surge is attributed to automakers enhancing vehicle connectivity features. Major players like Toyota and BYD are shaping the industry's future as demand for smart mobility solutions rises.Key Takeaways
- India leads in connected car growth with 25% YoY increase.
- 75% of passenger cars sold globally have embedded connectivity.
- BYD Group achieves 34% YoY growth through connectivity.
- Telematics Control Units dominating with 94% using 4G.
- Transition to 5G connectivity is gaining ground.
New Delhi, March 12 (NationPress) India has become the leading market for connected cars, achieving a 25% year-on-year (YoY) growth in 2024, according to a new report released on Wednesday.
A report from Counterpoint Research highlights that this increase is fueled by domestic automakers implementing connectivity features across their vehicle offerings.
In 2024, nearly 75% of all passenger vehicles sold worldwide were equipped with embedded cellular connectivity, marking an increase from 71% in the previous year.
The global connected car market experienced an overall 8% YoY growth, reflecting the rising demand for smart mobility solutions.
According to Greg Basich, associate director at Counterpoint, “The increasing integration of connectivity features in mass-market vehicles has significantly contributed to this growth.”
He further stated that automakers are adding advanced telematics, real-time navigation, and connected in-car entertainment to enhance driving experiences and improve safety.
Globally, the Toyota Group led in connected car sales for 2024, followed by the Volkswagen Group and Hyundai Kia Automotive Group.
However, the BYD Group achieved the highest growth, with a remarkable 34% YoY increase, thanks to its strategy of providing embedded connectivity in all models.
While India has emerged as the fastest-growing nation in this market, the United States and Germany remain significant players.
Counterpoint’s senior analyst, Parv Sharma, mentioned that “Automakers globally are embedding connectivity to improve in-car user experiences, safety, and vehicle performance.”
He added that as connectivity becomes a standard feature, consumer demand continues to drive the evolution of the automotive industry.
Telematics Control Units (TCUs) facilitating 4G connectivity dominated, with 94% of connected cars sold in 2024 utilizing 4G networks.
Nevertheless, the transition to 5G is slowly progressing, especially within luxury and premium vehicles.
Counterpoint anticipates that by 2028, more than half of the cars sold globally will include embedded 5G connectivity, improving vehicle-to-everything (V2X) communication, accelerating data transmission, and supporting autonomous driving capabilities.
