The increasing demand of consumers for smartphone features such as making and receiving calls, voice messages, music on demand, and infotainment in vehicles are attributing to the growth of connected vehicles. Consumers are increasingly looking for solutions that allow them to stay connected digitally. Consumer demands and mandates (both existing and expected) are key drivers of the market. Most of the major economies have already introduced one mandate or the other such as eCall in Europe and GLONASS in Russia. Future generations would rely more and more on cloud-based backend systems for content, information, and services.
The connected car market is expected to reach $46.69 Billion by 2020, at a CAGR of 10.82% from 2014 to 2020.