Connected vehicle is shaping into the most important global megatrend in the automotive world, and experts believe this will gain further momentum post Covid-19. A report suggests in the next three years, about 1.2 billion motorized vehicles will have connected features. The report estimates the connected car market is likely to grow by more than five times to $212 billion by 2027.
The value of connected offerings will increase as the market will try to curtail human contact and enhance the use of connected technology. Against this backdrop, automobiles will not only act as a mode of transportation from one point to another, but will also emerge as an intelligent multi-purpose device. This, in turn, will enable various services and, eventually, result in opening various new business opportunities, such as connected healthcare, e-tailing orders etc. The existing business of tracking by telematics, in-car entertainment, personal information dashboard and predictive maintenance & analysis will gain strength in a post-Covid-19 world.
The connectivity within a vehicle will further increase as its various parts will talk and respond to each other for improved performance to meet the changing norms. Most vehicles have at least 25-30 ECUs, and a high number of electronics and mechatronics, which will further go up. Today, a modern car has about four million lines of code, and according to industry norms, so far, every 100 lines of code have at least two errors. Thus, the threat and challenge of vehicle safety increase.
Increasing number of vehicles & trucks will be needed to be more intelligent to acquaint with upcoming smart cities and smart infrastructure – thus, increasing the demand for the implementation of connected vehicle programs fiercely.
ETAuto.com Connected Vehicle Virtual Summit – a day-long virtual symposium and conference – will bring together key industry stakeholders from the automotive industry, connected & IoT solution providers, telematic data associations, cybersecurity professionals, and other relevant solution & technology providers. Join us to explore the upcoming opportunities in the connected vehicle ecosystem, exchange your views with leading experts, and engage in wholesome virtual networking opportunities.
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