The connected car is equipped with Internet connections and software that allow people to stream music, look up movie times, be alerted of traffic and weather conditions, and even power driving-assistance services such as self-parking.
By 2020, BI Intelligenceestimates, 75 percent of cars shipped globally will be built with the necessary hardware to connect to the Internet.
In a new report from BI Intelligence, we take a deep dive into the connected-car market. We size the market for connected cars, determine the average selling price and how it will decline over time, and assess different manufacturers’ approaches.
Here are some of the key takeaways from the report:
- The connected-car market is growing at a five-year compound annual growth rate of 45 percent — 10 times as fast as the overall car market. We expect that 75 percent of the estimated 92 million cars shipped globally in 2020 will be built with Internet-connection hardware.
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