The connected car market is shaping up to be a major force in the new immersive transportation world and is attracting investment from existing manufacturers as well as new players. Companies like RPMAnetworks (CIOTA-Connected IoT Automobile) in the UAE are starting to emerge, which use hardware and software-based technologies that can be installed into a new or existing vehicle within minutes, instantly converting it into a connected car. This opens up new markets for millions of existing vehicles, accelerating the adoption of the connected car and setting the trend for autonomy. This technology could become widely available as soon as 2020 and may even become mandated if the business case for governments, insurance companies, and manufacturers is sufficiently compelling.
The real market opportunity for this connected ecosystem, however, is the ability to facilitate data monetization through the collection of vast arrays of data to support the forthcoming autonomous car, healthcare and insurance markets. This data will fuel the autonomous market, providing the source for the necessary artificial intelligence, machine learning, and data visualization capabilities.
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