Smart Car Market to Reach $287M by 2025Intelligent Cockpits Installed in 20% of All Cars Globally by 2025, as Partnerships Become Key to Monetisation A new study from Juniper Research has found
that the total number of vehicles with intelligent cockpits will reach 287
million by 2025; rising from 122 million in 2021. This represents a growth of
130% over the next five years, with one in five vehicles in use including an
intelligent cockpit by 2025. An intelligent cockpit includes digital displays
that provide infotainment and real-time information services via cellular
connectivity embedded in the vehicle.
Monetisation Models Remain Unclear for StakeholdersThe study, Intelligent Driver Systems: Strategic Recommendations & Market Forecasts 2021-2025, predicted that the development of integrated services in the intelligent cockpit will be closely linked to the development of 5G, edge computing, and smart city services. It urged market stakeholders, including automotive OEMs, technology service providers and operators, to work closely to develop an ecosystem that can swiftly roll out new consumer-friendly services. The research predicted that processing power for in-vehicle services will be moved to the cloud, which will greatly increase the capabilities needed for intelligent driver systems. However, it warned that attractive monetisation models have yet to be established for the ecosystem to fully develop; ensuring that the ROI meets the substantial R&D costs spent so far. As a consequence, it urged stakeholders to develop partnerships with retailers and payment service providers to maximise the convenience of in-vehicle services. In doing so, automotive OEMs will be well positioned to directly monetise cloud-based in-vehicle services via a subscription model.
The research predicted that, by 2025, over 45 million voice assistants will
have access to basic forms of vehicle functionality, such as display and
internal lighting control; rising from less than 1 million in 2021. Research
co-author Julia Karant remarked ‘Automotive OEMs will slowly open up the
vehicle to third parties. Enabling voice control for more complex in-vehicle
functions will provide greater safety benefits and convenience for drivers.’ Source: Juniper Research media announcement |