Report Description

Saudi Arabia Connected Car Market had shown growth in the past years, and it is anticipated to increase at a high rate in the forecast year 2023-2028. With connectivity on wheels, connected cars offer comfort, performance, security, and safety. With the help of such cutting-edge technology of connected car, the driver and the passengers can connect with numerous web platforms that make real-time communication possible while they are driving. The Saudi Arabia connected car market is expected to develop as a result of rising consumer demands, an ongoing need for connectivity, improved technology dependability, and an increase in the number of technology enthusiasts. The Saudi Arabia’s market for connected cars is also being driven by an increasing number of telematics regulations from government of Saudi Arabia, all of those that are in place and those that are anticipated. Over the coming ten years, the market for connected cars may boost sales for automotive manufacturers in Saudi Arabia. The automotive manufacturers are expected to provide the optimum mix of application and product packages for their target audiences and must analytically invest in R&D to sustain their technological leadership. According to the research by the NIDC (National Industrial Development Corporation), 50% drivers demand rearview camera or backup warning, more than 46% drivers demand for blind-spot warning system and about 15% of the buyers wants the fully automatic accelerator in the new vehicle for increasing the safety.

New Technology and Software in Connected Car

Many technology firms and software developers are important for the development of the automotive sector. Two of the applications of connected car’s, Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication technologies have made it possible for cars to create seamless contact with other vehicles and infrastructure. The connected car market has grown in Saudi Arabia because of the increasing use of artificial intelligence (AI) technology, which enables smarter interactions between the driver and the vehicle. Customers can experience fully autonomous driving thanks to the technology's wide range of sophisticated capabilities, including voice recognition, gesture recognition, driver monitoring, virtual assistance, and Natural Language Understanding (NLU).

Emergence Of Various Technologies such as 5G And AI

The market for connected cars is expected to rise over the forecast period owing to the development of technologies such as 5G and AI. Many developed and emerging nations are using 5G and AI technology across various sectors. For instance, mm Wave 5G is being implemented in Europe and China for a limited number of specialized use cases with the intention of making it a standard technology by 2022. Similarly, more than 600 million people will have 5G subscriptions by the end of 2022, predicts Ericson. Similar to how new technologies such as artificial intelligence and machine learning are influencing companies of all sizes. Therefore, the development of 5G and AI technology is expected to fuel the market for connected cars.

Increasing Demand for Smart Solutions in Mobility

Future growth in the market for connected automobiles is being driven by rising demand for innovative mobility solutions. Companies and customers are working harder to develop intelligent automotive mobility solutions. A new network of smart transportation is created by the connection between linked infrastructure and smart vehicles. Thus, rising demand for intelligent transportation solutions drives the market for connected cars.