Connected Car - 5 Opportunities For Growth

What Is The Connected Car?

The connected car is equipped with software that enables the car to be used as a mobile router, providing the car and passengers with quick access to the internet. It doesn't stop there, the software also allows you to interact with the vehicle’s functions in various different ways (media, apps etc...). The connected car will bring growth, along with various challenges, to marketers around the world.  One thing is for sure, family road trips and sibling bantering will never be the same.

5 Opportunities For Growth

1.Safety Regulations

Car manufacturers will have the opportunity to improve the safety of their passengers with such solutions like emergency call (automated emergency systems that transmit data to the nearest emergency service). How will car manufacturers develop such integration tools while ensuring the driver is not distracted?

2.The Evolution Of The Industry

The technological advancements and lifespan of cell phone technology versus the automotive industry is based on two very different models. How are car manufacturers going to adapt to an environment that changes every few months, ensuring that the vehicle is still considered to be a connected car in years to come. How will the connected car affect dealerships? When upgrading my cell phone I require some time getting used to the new software and the functionality of the phone. I can only imagine there would be some required training with the purchase of a new connected car. Will we be seeing a new kind of tech savvy dealership/sales rep?

3.New Partnerships

The creation of various mobile partnerships (along with various other technological services, such as entertainment features etc…) will provide new means of growth and opportunity.

4.Who Will Be Paying For The Service?

This may be an opportunity for dealerships to provide an added service, or a means /strategy towards creating brand loyalty etc… Will the service be free at the expense of consuming local advertisements, such as your favorite fast-food restaurant offering you a promotion when driving by. As you can see there is a big opportunity for car manufacturers to collect all sorts of data, this will surely change the way we market to consumers.

5.How Far Away Are We From The Self-Driving Car?

How many years away are we from a minority report or back to the future environment?

The above listed opportunities for growth are a few of many the connected car will bring to the automotive market. What is your take on the connected car? When purchasing your next car, will you be considering such new technological advancements?Do you see any value as a driver, passenger or marketer?

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Resources:

Forbes: Self Driving Cars Will Arrive But Not Now 

Business Insider: Connected Car Forecasts - Top Manufacturers