Connected vehicles can now serve as a driver’s smartphone, map, traffic updater, entertainer, and—eventually—driver, shifting new opportunities and touchpoints to cars. As the number of connected cars in use increases, auto manufacturers and marketers will be able to use data to personalize the driving experience and access consumers in new ways.
How large is the connected car market, and how big will it become?
In 2021, 60.3% of licensed drivers in the US will drive a connected vehicle, expanding to 70.1% by 2025. Although new vehicle growth may be impeded in the short term by the semiconductor chip shortage, many opportunities exist with cars already on the road.
What are the most important changes ahead?
Technologies like 5G networks, cloud computing, and AI will foster innovation in vehicles. In addition to vehicle ecosystem players, others like telecoms, retailers, and media agencies will increasingly be involved in the development and use of new connected car technologies and services.
What does this mean for vehicle ecosystem players and marketers?
Auto manufacturers will continue to pivot from a hardware-focused strategy to include software as a major business line. The collection of new types of data gleaned from connected cars will create new revenue streams for manufacturers as well as new opportunities for marketers and retailers.
WHAT’S IN THIS REPORT? This report examines our forecasts for connected car drivers in the US, looks at underlying trends that are driving connected car adoption, and discusses how players can take advantage of emerging opportunities.
KEY STAT: By 2025, 70.1% of licensed drivers in the US will be driving a connected car.
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