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Connected Car Forecast

The connected car transformation continues. As it does, automakers are bringing more and more connectivity onto four wheels. And for good reason. Researchers estimate that the connected car industry is growing at a rate of 10 times that of the overall car market and has a revenue growth rate of over 38 percent year over year worldwide. What’s even more interesting? Of today’s car buyers, 41 percent say they would buy a different car if it meant better connectivity features.

With that in mind, what do consumers want in their car? Here are three trends making an impact on the connected car industry.

Personalization is key

Many of us feel a special connection with our car today, but the connected car will only deepen our love. Algorithms, cloud services, and smart memory will enable the car to modify the experience based on each driver’s preference. For consumers who share a car, this means no longer having to be constantly adjust seats, mirrors and radio station preferences.

Such personalization requires the connected car to learn, which means car manufacturers must focus on embedding advanced learning technologies into their vehicles. Features like voice and motion control sensors, as well as digital integrations with mobile devices and wearables will be key technologies building the car’s intelligence.

Digital safety and security

The connected car is another gateway to an individual’s personal and private information, which is why security, as well as safety, are top concerns for connected car buyers.

With the help of technology, automakers are greatly enhancing their vehicles’ safety to protect drivers and passengers alike. Working with insurance companies, mobile leaders, and medical professionals, manufacturers are developing features such as detection and alerts for mechanical issues, advanced GPS and location discovery, blind spot and environmental obstruction detections, and collision warnings. Innovations in advanced driver assistance systems (ADAS), have increased over 400% in the past eight years, an amount that shows no sign of slowing down.

Security needs to be in focus for every player within the connected car supply chain – including original equipment manufacturers (OEMs), app developers, and mobile network operators to ensure customer information isn’t hacked and stolen.  

Cloud connectivity

The cloud won’t only bring entertainment, eCommerce and social platforms into the vehicle, it is also introducing more advanced smart mobility features that will allow drivers to do a variety of tasks on four wheels. For example, finding recommended nearby hotels or attractions based on local weather forecasts.

The cloud also enables auto manufacturers to issue over-the-air updates in real-time, ensuring the car remains safe, secure and reliable at all. However, data in the cloud doesn’t just flow one way. Car manufacturers can use driver and vehicle data to make better decisions regarding production and sales. Such intelligence about driver activity and behaviors can help automakers lower the costs of manufacturing, speed up the go-to-market cycle and improve distribution.

Case Study: IoT is redefining the customer experience. Nokia case study.

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