It’s pedal-to-the-metal time for connected cars. The market is expanding at a five-year compound annual growth rate of 45 percent, 10 times more than the overall car market, according to Business Insider. Take a look at these 5 connected car startups showing tremendous growth opportunity.
5 connected car startups to watch
Revenues for connected car services (for driver assistance and autonomous driving applications) will likely jump from 5 percent in 2014 to 11 percent by 2020, says SNS Research.
There are roadblocks ahead, of course. Remember carjacking? Today, the fear is more about car hacking. A July Kelley Blue Book survey found that nearly 80 percent of respondents believe vehicle hacking will become a frequent problem within three years.
Because many aren’t likely to buy a new car because it's "connected," the following startups are showing traction by transforming standard vehicles into connected cars.
Read more at: http://www.cio.com/article/2970439/demo/traction-watch-5-connected-car-startups-to-watch.html
5 connected car startups to watch
Revenues for connected car services (for driver assistance and autonomous driving applications) will likely jump from 5 percent in 2014 to 11 percent by 2020, says SNS Research.
There are roadblocks ahead, of course. Remember carjacking? Today, the fear is more about car hacking. A July Kelley Blue Book survey found that nearly 80 percent of respondents believe vehicle hacking will become a frequent problem within three years.
Because many aren’t likely to buy a new car because it's "connected," the following startups are showing traction by transforming standard vehicles into connected cars.
Read more at: http://www.cio.com/article/2970439/demo/traction-watch-5-connected-car-startups-to-watch.html
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