Predictions show that by 2024, 90% of new vehicles sold will be connected-cars – a market which will be worth $40B by 2020, offering boundless opportunities for multiple players in such industries as insurance, content, communication, retail, transportation, advertising and others.
This trend is stimulated by two factors: Consumer demand to safely bring their digital life on the road with them, and the increasing involvement of mobile network operators in the machine-to-machine (M2M) market. Notably, some vehicle manufacturers are already partnering with mobile network operators, not only for connectivity, but for providing miscellaneous services, such as billing, analytics and others.
Health applications aimed at increasing drivers’ safety is one example which can benefit through the use of connected cars, and which is relevant to both drivers and insurers. Real data could be obtained through sensors that monitor vital signs, and automatic alerts which reduce fatigue, which could impact insurance policy terms.
Network security is another example, as more people share personal information on their mobile devices in the cloud, exposing systems and data to threats, and requiring stronger encryption and security services.
*This article is a summary of the following two articles: Jaguarlandrover.com, Connected Cars
The growing demand for digital services and IoT devices, coupled with the increasing amount of time people spend on the road, make it easy to understand the hype around connected cars - an emerging sector that holds vast opportunities for multiple industries.*
Predictions show that by 2024, 90% of new vehicles sold will be connected-cars – a market which will be worth $40B by 2020, offering boundless opportunities for multiple players in such industries as insurance, content, communication, retail, transportation, advertising and others.
This trend is stimulated by two factors: Consumer demand to safely bring their digital life on the road with them, and the increasing involvement of mobile network operators in the machine-to-machine (M2M) market. Notably, some vehicle manufacturers are already partnering with mobile network operators, not only for connectivity, but for providing miscellaneous services, such as billing, analytics and others.
Health applications aimed at increasing drivers’ safety is one example which can benefit through the use of connected cars, and which is relevant to both drivers and insurers. Real data could be obtained through sensors that monitor vital signs, and automatic alerts which reduce fatigue, which could impact insurance policy terms.
Network security is another example, as more people share personal information on their mobile devices in the cloud, exposing systems and data to threats, and requiring stronger encryption and security services.
Cars as the ultimate wearable
A fertile ground for disruption - the long-established mature automotive industry has demonstrated a high potential for becoming the ultimate wearable device. By adopting embedded connectivity, today’s vehicles enhance consumers’ lives, providing unique experiences.
An example is an application intended for extreme weather conditions, which interfaces with a smart-watch to obtain current weather information, and sets the perfect temperature once you step into your car. Another app enables drivers to share their ETA with a friend or a colleague when on the move, and find available parking before reaching the destination.
Finally, here’s another cool one: A rubber waterproof wristband which serves as a spare car key when you’re at the beach, white-water rafting, or on a rock-climbing trek!
More time spent on the road
As people spend more time driving, it’s no wonder they want their cars connected to smart technology, whether for entertaining passengers, interacting with their smart home remotely, or navigating. For drivers who use their phone or watch for navigation instruction, interfacing with a car app can provide the ultimate experience. Users can input a destination on their watch, and the data synchronises with the car automatically.
So, how will cars get the power needed for all this connectivity? Turns out that the average connected car has the processing power of 20 PCs, which can generate up to 25 GB of data an hour. By 2020 there will be 10M self-driving cars on the road – a number which will surely multiply soon thereafter, and rapidly. This promises big opportunities for network operators in the area of computing and storage.
*This article is a summary of the following two articles: Jaguarlandrover.com, Connected Cars
