China's car networking industry in 2024

3, car networking market size: rapid growth rate

With the rapid development of 5G technology, users' willingness to pay for car networking functions will also increase. According to the data of CCID think tank, the growth of the short-term car networking market mainly relies on the number of new hardware and user value-added consumption, due to the promotion and application of 5G technology in 2020, the development of V2X technology and the improvement of user value-added payment, the market has ushered in explosive growth, with a growth rate of more than 60%. In 2022, the preliminary statistics of China's car networking market will exceed 130 billion yuan.

Industry competition pattern: the industry competition is more intense

From the perspective of the competitive echelon of China's car networking industry, the leading enterprises with strong strategic and technical strength in China include Ali, Huawei, Tencent and Baidu; Strong performers include Siwei Touxin, Neusoft Group, Gaoxin and Qianfang Technology and other enterprises; Competitors include traditional and Internet car makers such as Geely Holding and Chery Group.

From the perspective of market share, the current market share of software, data and service providers is small, of which the market share of 10 representative enterprises in 2022 is only about 10%. Leading enterprises in communication and cloud service providers and vehicle manufacturing have large scale advantages and wide layout fields, occupying a dominant position in the market and having a high market share, which is represented by Huawei, Tencent, BYD and other enterprises.

Industry development prospect and trend forecast

1. Development trend: towards the direction of systematization, intelligence and marketization

At present, the automobile industry has reached a consensus, low carbonization, information, intelligent become an important direction of future development, the production mode to the intelligent manufacturing system of interconnection and cooperation evolution, the service model will move towards the direction of information and sharing. The intelligent connected vehicle with distinctive cross-border integration characteristics is the most important innovation carrier in the process of transformation and upgrading of the automotive industry.

2, development prospects: car networking industry will grow rapidly

China's vehicle networking industry segments mainly include the vehicle end equipment market, roadside equipment market, cloud equipment market and operation service market. With the development of Chinese automobiles to intelligence and network connectivity, smart roadside devices are constantly laid on urban highways, expressways and intersections, cloud platforms, edge computing and communication operation technologies continue to break through, and the market space of China's car networking industry is broad. In 2028, China's car networking industry market will reach 244.8 billion US dollars, with a compound growth rate of 13% in 2023-2028.