Innovations in the connected car market have revolved around data monetization, with startups developing new apps and hardware/interfaces (smart phone pairing) or offering services like prognostics, according to Frost & Sullivan’s recent market study, the Global Connected Car Market Outlook, 2017.
Acknowledging the potential presented by the explosion in data, automotive suppliers are attempting to capture and sell car data by leveraging their software and hardware platforms. While over-the-air (OTA), human-machine interface (HMI) and connected services generate direct revenue streams, big data analytics will help save costs and accelerate returns on investments (ROI) for automotive original equipment manufacturers (OEMs).
“A notable example of cross-industry collaboration is the integration of virtual assistants such as Amazon Alexa into the vehicle. This allows non-automotive players to invest in connected homes and cars,” said Frost & Sullivan mobility analyst Siddhanth Kumaramanickavel.
“Companies such as Maluuba, iNAGO, Promptu, Sensory and Baidu also are working on offering natural speech assistants, artificial intelligence-enabled speech assistants, and voice biometrics to automotive manufacturers.”
The Global Connected Car Market Outlook, 2017 report is part of Frost & Sullivan’s Automotive & Transportation Growth Partnership subscription. The study forecasts that global connected car shipments will increase from around 25 million to almost 70 million units by 2022.
May 9, 2017