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When will the connected cars industry move into top gear? And when should small businesses enter this lucrative marketplace? Look closely and you may see the lights change from red … to green.
The connected cars marketplace has been around for a few years. But, at times, it feels like the industry is stuck on the starting grid, revving furiously without going anywhere. It’s as if everyone is trying to figure out where the sector is headed, who’s on board – and who’s paying for what?
You could compare the industry’s journey to a long road trip where the destination seems always “around the next bend” … but you never quite get there.
Patience will pay off
Despite the hold-ups, a change could come very soon. City A.M ran a story that suggested two out of every three cars sold by 2022 would have some sort of connectivity – and the market would be worth a jaw-dropping £120bn by then, according to PWC.
With all that potential, it’s no surprise large players are positioning themselves. There are those rumours of Apple taking a stake in McLaren, talk of Uber’s self-driving trials in Pittsbrough, Ford’s dynamic car-sharing experiment and Daimler working on VANs with auto-pilot.
But a lot of quiet innovation is happening too – in areas such as entertainment, telematics, cyber security and assisted driving. It’s not just the pure-play car giants involved either. Small companies in the automotive industry and adjacent industries are also doing some amazing things that could transform our driving experience very soon.
Many exciting breakthroughs could happen at once. But like a gridlocked city centre, there’s only so much that each player can do – unless someone else moves first, or at the same time.
Read the full article on Real Business.
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