Total Connected Cars to Reach 775 Million by 2023
A new research study from Juniper Research, Consumer Connected Cars: Telematics, In-vehicle Apps & Connected Car Commerce 2018-2023, shows consumer connected cars growing 18.7% annually. Research suggests that connected cars will not only feature in-vehicle information systems, but also expand to new technologies such as in-vehicle voice assist. In fact, it is forecasted that over 370 million vehicles will be equipped to voice-assist access by 2023. This attributes to the expected $265 billion in revenue by 2023.
Additional information includes:
- Some pitfalls that connected vehicle manufacturers must maneuver around include: data speed, latency, and 5G network coverage.
- Juniper Research expects that in-car payments will be limited to existing services with the first to adopt being toll roads, refueling stations, and connected parking or EV recharging stations.
For additional findings or to download the white paper, click here.