Car as a Connected Living Ecosystem worth USD 1.5 trillion by 2035 | MarketsandMarkets

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=32781103

Car as a Connected Living Ecosystem Scope:

The car is emerging as the new smartphone.

Connected cars have moved beyond being data generating machines for fleet management and safety compliance. Connected cars have emerged as the golden goose for automakers, with its ability to drive continuous revenues across lifetime. The cars are capable of performing almost any function that is offered by our smartphones today and even more, offering comprehensive connected living solutions at the touch of a button. The cars can remotely unlock, drive and navigate themselves, save themselves from potential hazards and security threats, manage energy requirements, offer in-car marketplaces with integrated payment platforms, entertain passengers, take care of their health and homes, manage work diaries, civil responsibilities, and can integrate the physical and virtual realm.

The In-Car Connectivity segment is expected to dominate the digital connected living services market.

There services are expected to be available to customers at an annual cost of $1,600 by 2035. Over the next decade, OEMs must identify their connectivity and subscription revenue strategy – in-car experience is expected to earn the lion's share of revenue at 87% with health, energy, and aftermarket developing as formidable segments. However, the key challenge is to strike the right balance between subscription costs and customer willingness to pay.

The wider ecosystem of connected car offers further growth potential.

OEMs stand to gain further through developing competencies in the wider automotive ecosystem such as energy management services and connected insurance. Tesla, Hyundai, GM, and Ford are not just selling EVs but the entire spectrum of services such as renewable energy generation, energy storage, and V2G technology, required for energy independence. Tesla, GM, and JLR are leveraging connected vehicle data to offer connected insurance services underwritten by insurance companies. A third revenue stream is data monetization partnerships with various stakeholders such as cities, automotive workshops, and others. Several other revenue streams could emerge from a single connected car.

From being able to communicate with drivers, offering AR based driver assist and autonomous driving systems and automatically managed maintenance systems, to managing energy services, insurance and healthcare through the car's ecosystem. 6G connectivity, V2X technology, and VR repair and maintenance will change the way customers experience the car.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=32781103 

Key Market Players of Car as a Connected Living Ecosystem Industry:

Major players in the Car as a Connected Living include Mercedez Benz (Germany), BMW (Germany), VW (Germany), Stellantis (Netherlands), Hyundai (South Korea), Toyota (Japan), GM (USA), Ford (USA), Nio (China), Xpeng (China). All OEMs offer vary levels of connectivity solutions through the car.

Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=32781103 

Car as a Connected Living Ecosystem Industry Recent Developments:

• In January 2024, Mercedes Benz unveiled its AI powered MBUX Virtual Assistant.
• In January 2024, Stellantis acquired Artificial Intelligence Technologies and IP from CloudMade for advanced connectivity features.
• In January 2024, GM introduced OnStar connectivity features in Saudi Arabia.

Car as a Connected Living Ecosystem Size - Key Benefits of Buying the Report:

• The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the connected living solutions.
• This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.             

This report provides insights on:

• Analysis of key drivers (advanced technologies, customer propensity to adopt), restraints (cost of technology development), challenges (undertaking strategic partnerships), and opportunities (first mover advantage).
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the connected living space.
• Market Development: Comprehensive information about lucrative markets - the report analyses the future of connected living solutions through the car.
• Market Diversification: Exhaustive information about new products & services, recent developments, and investments in the connected living space.
• Competitive Assessment: Competitor benchmarking to understand ket industry connected living service offerings.

Get access to the latest updates on Car as a Connected Living Ecosystem Industry Growth

Related Reports:

Connected Car Market - Global Forecast to 2026

India Connected Car Market - Forecast to 2025

Connected Rail Market - Global forecast to 2027

Connected Motorcycle Market - Global Forecast to 2027

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/car-as-a-connected-living-ecosystem.asp

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

SOURCE MarketsandMarkets