50 per cent of consumer vehicles on the road will have at one connectivity service by 2022, as consumer connected car services revenues reach $49.2bn (£38.7bn) – up from $18.4bn this year.
According research by Hampshire-based analyst Juniper Research, the industry growth will be driving by increased involvement from OEMs and network operators, combined with the development of new vehicle-to-everything (V2X) services.
Juniper’s research suggests that automotive OEMs must prepare to capitalise on opportunities of V2X services. Meanwhile, stakeholder investments and public-private partnerships will also be critical to future vehicle-to-infrastructure (V2I).
Total consumer spend over connected car commerce platforms will exceed $100bn in 2022. North America will be responsible for 39 per cent of all end-user spend on connected car commerce platforms.
“OEMs will begin competing on the level of convenience that their in-vehicle services offer” said research author Sam Barker. “Soon, level of service will be more important to drivers than vehicle performance itself.”