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Over the next 10 years, electrification will change what powers cars, and automation will change how they are driven – but one of the biggest opportunities is connectivity and software definition, which will change how cars are monetised.
The reports found that these technologies will grow at a compound annual growth rate of 21,1% between 2024 and 2034, reaching a value of $700-billion. That’s around $400 to $500 per vehicle on the road.Firstly, there will be the AI assistants in the cabin. This was a big focus from players like Mercedes, Amazon Web Services , and Qualcomm.
At CES, IDTechEx saw how this can contribute to the vehicle experience. Qualcomm and AWS both had demonstrator interfaces that had been trained on the vehicle’s owner manual. AI assistants will likely come as a subscription service, though, especially since they tend to rely on connectivity. The AI examples discussed focused on interactions with the vehicle, but combined with connectivity and third-party application stores, the possible applications of the AI assistant are unbounded.
IDTechEx saw a live demonstration of this at CES 2024. In one of the demonstration booths, an exhibitor pressed to make a purchase on a mock-up infotainment system; the camera showed their face for verification, and then the bank transaction could be seen on a separate screen. This wasn’t a faked example or charade, but real money moving between accounts, processed by what would be a car.
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