It’s a new day and age in terms of a car buying experience with more and more customers considering conductivity a major feature that they wouldn’t do without in their next vehicle. In fact, a recent study shows that approximately 20% of buyers view conductivity as a priority over other major features such as fuel efficiency or engine power. It’s estimated that there will be 250 million connected vehicles across the world in 2020.
A connected vehicle provides Internet access and a wireless LAN (local area network). When a car is equipped with such a device, it can share access over the Internet with other devices inside and outside the vehicle. Other benefits are also offered to the driver by certain technologies that use the wireless LAN or the Internet.
In this fast-growing and lucrative market, consumers are looking for the following key features in conductivity:
1. Lifecycle Management
Consumers want to know that they can remotely patch, improve and update conductivity devices and apps in the vehicles they purchase. This will enhance the overall user experience while helping to prevent cyber risks.
2. Worldwide Operation
This is another key feature that car buyers are looking for. The components should be able to be used in any place in the world without having to make complicated adjustments.
3. Reliable Connections
Buyers want to know that the conductivity will be reliable and that they can trust it to work any time they need it. Data should be able to be transmitted rapidly without delays.
4. High Security Features
The connected vehicle should have the highest standards of security so that there is no chance of data being leaked. The risks of a cyber-attack should be absolutely minimal.
These are uncertain times that we are living in and the market continues to evolve in the field of vehicle conductivity. The market on a global level for connected car solutions in 2020 is estimated to be more than $85 billion US and it’s expected to grow to more than $251 billion US by the year 2027. In the United States, it’s estimated that the market is over $25 billion US. Canada and Japan are expected to see their markets grow at 14.4% and 14.8% respectively from 2020 to 2027. This is huge and the timing is right to step into the market to grab your share of the revenue.
While the digital age has been progressing forward over the last decade, the use of digital technology has skyrocketed since the beginning of this year when COVID-19 surfaced around the world. With more and more people staying home to isolate or quarantine and others working from home, many people are having to use the Internet to shop for basics and other items. Even people that have otherwise dismissed the advance of technology are relying on it more heavily.
If you are looking for ways to expand your income sources in the automotive industry during this time you should investigate the available digital resources that are currently available. Conductivity is huge right now and offers solutions for dealerships, OEMs, and dealer groups that are struggling with traditional sales methods. Find out more on our website at acemarktplace.com.