Connected Car Market worth $98.42 Billion – 2018

Is connected car all about providing internet connectivity to the driver and the passenger? Absolutely no! The idea goes much beyond mere internet accessibility. Increasing number of mandates all across the globe put forward that the connected car has lot to offer in easing out the increasing traffic congestion and managing the traffic intelligently. The idea goes hand in hand with the implementation of intelligent traffic system. Transportation systemin almost, all across the world is at a critical juncture as the current infrastructure reaches its capacity, and the transportation network increasingly jam-packed. Traditional methods of infrastructure expansion are no more a feasible solution to address traffic congestion and hence the country has no choice but to look for out-of-the box solution. No wonder connected car with an increased application of telematics and navigation appears a fitting solution to the.

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Smart cities and Internet are already helping to understand the idea of connected living. Adding to this connected concept is the connected vehicle that not only communicates with devices inside the vehicle but also intelligently interacts with other vehicles and infrastructure. Automotive OEMs see connectivity must have proposition in car, at least in the high end and luxury ones. Apart from opening up a revenue stream for electronics, semiconductor and network operators, this presents a huge business opportunity to allied service industriessuch as insurance. The connected car as being commercialized would turn out to be a huge data repository that will help not only the automotive OEMS, service companies and the regulatory bodies but would be a stepping stone in connected living.

Internet company say “data is king” while for the declining automotive market, OEMs consider,“consumer asking”. Interestingly, this battle for kingship is getting stronger with telecom companies, hardware and software players, and automotive companies coming together to create what is being called as a refreshing technological breakthrough in automotive industry- the connected car. No matter whosoever is the king, this is a win-win situation for both the market players and consumer.

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