Frost & Sullivan's analysis Global Connected Car Market Outlook, 2019 forecasts that 80 percent of vehicles sold by premium will have multi-sided platforms like marketplace by the year 2020 attributable to the increasing focus of users to customized services.
“With commutes becoming longer, the number of purchases made on the move has increased. The likelihood of in-car ads converting to purchases of products and services is especially high in automated vehicles, which makes marketplace a scalable model,” said Suhas Gurumurthy, mobility senior research analyst at Frost & Sullivan. “With more than 60 percent of consumers willing to share data, OEMs and data consumers will have significant opportunities to generate recurring revenues. They will be looking to invest in advanced data analytics companies, apply AI algorithms, identify new use cases, and build applications on top of platforms to enhance services.”
The outlook includes projections for 2019 market scenario and a summary of 2018’s actual market scenario. The research also studied how companies are aligning their strategies with the connected, autonomous, shared, electric (CASE) model.
“Connected car makers will be eager to build strategic partnerships with telecom providers and communication module makers to augment on-road safety and offer in-vehicle, data-rich services,” noted Gurumurthy. “Flexible business models such as choice of network for consumers will further improve customer retention and revenue generation.”