Connected car services: $ 50bn market in 2022

For Juniper Research, services for connected cars look like a new Eldorado. According to the research firm, worldwide revenues generated by these companies are expected to rise from $ 18.4 billion in 2017 to $ 49.2 billion in 2022. This market would then grow at an average annual rate of 21, 6% over this period. To support such a market, Juniper Research also estimates that at least 50% of vehicles will be equipped with at least one type of connectivity (telemetry, V2X communications, connected commerce).

 

V2X (Vehicle-to-everything) connectivity will be the main source of growth. Automotive manufacturers and their partners are already working on applications to these technologies, such as smart parking or automatic fuel payment. The success of public-private partnerships in developing infrastructure connectivity should, however, condition the commercial development of these solutions.

Connected trade services also booming

Nor should the potential of connected trade services be neglected. According to Juniper Research, motorists will spend nearly $ 100 billion in 2022 through this type of services, which will represent a significant challenge, especially as embedded systems like Android Auto and Apple Play Car already allow the installation Many applications. It remains to be seen how public players intend to legislate around these connected services which obviously will not jeopardize the safety of motorists.

 



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