Fueled by AI, digital retailing, online demand, and EV investment, the automotive technology market is projected to more than double, from $264 billion to over $490 billion by 2029. Despite a sharp drop in M&A activity in 2024 compared to the record highs of 2021 and 2022, strong investment ($7.5B) continued, focusing on AI-powered autonomous vehicles and consumer-centric technologies, with an M&A rebound expected in 2025 and beyond.