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Report Outlines Optimistic Future for Connected Car Market

By Ken Briodagh July 14, 2015

Connectivity aboard vehicles presents unique challenges, and according to new research from ReportsnReports.com, huge opportunities.

The report, “Connected Car Ecosystem: 2015 - 2030 - Opportunities, Challenges, Strategies & Forecasts” surveyed the Connected Auto market and delivers predictions for the direction and size of the industry for the 2015 to 2030 period. The full report is available here.

The report estimates that the market will be at about $40 billion in annual revenue by 2020. This growth will be driven by user-focused applications, including infotainment, navigation, fleet management, remote diagnostics, automatic crash notification, enhanced safety, usage-based insurance, traffic management and autonomous driving. One of the verticals predicted to see huge growth is in driver assistance systems and autonomous driving applications, which could more than double from five percent in 2014 to more than 11 percent of the total space by 2020.

Image via Shutterstock

Largely driven by connected car services, this research said that Big Data and analytics technology investments in the Connected Automotive sector could reach $5 billion by 2020. Consolidation will be a continued trend, with larger players investing in acquisitions to increase their market share, capability, revenue and geographic reach. Finally, the report presents market size forecasts for connected car services from 2015 through to 2030, which were segmented into three connectivity models, five application categories, five regions and 17 leading countries. 

This trend toward more connected and increasingly autonomous vehicles, in both the consumer and supply chain spaces, will be heavily investigated and discussed at the upcoming Connected Transportation Conference, a major part of the IoT Evolution Expo at Caesars Palace in Las Vegas from August 17 to 20. Get registered to attend today to take advantage of online registration discounts. 

 
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