Gartner: connected car production to rise over the next five years
The market is forecasted to reach 12.4 million in 2016 and increase to 61 million by 2020.
According to the latest forecast from Gartner, the global connected car market is poised for rapid growth and maturity.
According to the market intelligence firm, the market for automobiles equipped with data connectivity, will reach 12.4 million in 2016 and continue increasing to reach 61 million by 2020.
James Hines, research director at Gartner, shared: "The connected vehicle is the foundation for fundamental opportunities and disruptions in the automotive industry and many other vertical industries."
He added: "Connected vehicles will continue to generate new product and service innovations, create new companies, enable new value propositions and business models, and introduce the new era of smart mobility, in which the focus of the automotive industry shifts from individual car ownership to a more service-centric view of personal mobility."
It is expected that connected car technology will create opportunities for automobile manufacturers to generate post-sale profits. This will be accomplished through sales of additional services, feature upgrades, as well as enhanced brand loyalty, achieved via the personalised customer experience.
"As cars become more automated, they are being equipped with an increasing array of sensing technologies, including cameras and radar systems," commented Hines.
"Many automobiles will use image detection as the primary means to identify and classify objects in the vicinity of the vehicle so they can provide more sophisticated responses and even have autonomous control," he concluded.