The connected car is creating opportunities for companies once seemingly irrelevant to the automotive industry. The technology that underpins connected cars and that will make autonomous vehicles a reality is becoming equally important as the mechanical bits that make them move and the steel that once made up all the appeal. This thought has been validated by Frost and Sullivan’s 2017 Global Automotive Industry Outlook, which projects that revenue could grow to $1.3 trillion in 2030 from electrification, smart mobility, connected cars, and autonomous vehicle development.
This isn’t just money in the pockets of automakers, either. “Digitization will underpin automotive industry strategies, with OEMs establishing digital divisions and investing in developing Internet of Things (IoT) platforms that support connective living solutions,” sais Frost & Sullivan Mobility Industry Principal Shwetha Surender in a press release. “The growing digital ecosystem between automotive OEMs, software integrators, telecoms, and other companies will also bring new areas of competition…” The mobility-focused mergers, acquisitions, and partnerships that tech, telecom, and others are making further drives home the reality of this situation.
Just look at the big sponsors at this year’s TU Automotive Convention—Cisco Jasper, Intel, Harman and of course (shameless plug) Aria Systems. Companies like Intel, Qualcomm, Cisco, and Verizon have invested billions of dollars in connected car M&A action in the last two years, and the race to the top is on. (Check out this post to see who the top investors are.) Automotive OEMs are making their own investments in tech and mobility too—pouring billions into artificial intelligence, autonomous car tech, data centers and more.
Come see us at booth B139 if you’re at TU Automotive conference in Detroit today to learn more about how tech companies, automakers, and others are enabling monetization of mobility, new services, and the data derived from it.