Therefore, the connected car initiative is a collaborative effort between different technologies and competencies. From the OEM standpoint, end-to-end connected car solutions and services can be categorised as "Inside the Car" (that is, in-vehicle systems development, testing and implementation), "Outside the Car" (that is, consumer-facing apps, integration with dealer/OEM systems), and "Around the Car" (that is, urban mobility, cross-industry monetisation).
Personal transportation is a matter of both need and aspiration. Naturally, the evolution of the connected car is an extension of consumer choices. This dynamic in congested mega-cities takes the choice to a different level. For regular urban commutes, people are willing to look at different options that are more convenience-driven than feature-loaded. Driverless cars, car sharing, car-pooling and seamless multimodal mobility will soon become an integral part of urban transportation.
With the market estimated to be a multi-billion dollar opportunity, it is expected that technology companies will be vying for a growing slice of the pie. Connected car solutions will become one of the major business drivers for the automotive industry in the future. In 2016 and beyond, automotive manufacturers and their partners will see radical changes to their businesses with the emergence of new digital technology and the re-distribution of global supply chains.
Sign up for CIO Asia eNewsletters.