According to analyses by Statista’s Digital Market Outlook, the market for hardware that turns cars into connected cars with a permanently embedded Internet connection (via eSim) is growing at an exuberant rate.
It comes as no surprise that consumer demand is on the rise in our ever more connected world. In Europe, Brussels helps too: eCall is a technology that automatically calls 112 in case of a serious road accident and will be compulsory for all newly sold cars from April 2018 across EU-member countries. This will not only lead to juicy profits for hardware providers but also to 35.6 million connected cars in Europe by 2021.
The free Digital Market Outlook report on connected hardware indicates that software solutions, and in-car entertainment services, will only flourish once the majority of cars have been equipped with the necessary hardware.
This chart illustrates the growth of the connected car market in million U.S. dollars (2016 – 2021), by category.