Fourth Industrial Revolution

Why are internet-connected car services so valuable?

John Greenough
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Automakers are in a rush to add internet connectivity to cars. They’re doing this for a number of reasons, including to collect data from the vehicle, push over-the-air updates, and improve car safety.

But one of the biggest ways automakers are leveraging connection in their vehicles is to sell connected car products and service. By 2020, revenues from connected services are expected to top $152 billion.

They’re offering a selection of connected features in cars, with a special focus on entertainment apps and safety-management features.

connected-car-revenue-from-systems

In a new report from BI Intelligence, we look at revenue from the various connected-car internet services, as well as consumer attitudes to these services and how they want to pay.

The report serves as a companion to our connected-car market forecast report.

Here are some of the key takeaways from the report:

This article is published in collaboration with Business Insider. Publication does not imply endorsement of views by the World Economic Forum.

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Author: John Greenough is a Research Analyst for Business Insider Intelligence.

Image: Traffic moves through the rain along interstate 5 in Encinitas. REUTERS/Mike Blake.

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