New Delhi: The number of connected vehicles in service will reach 367 million globally in 2027, from 192 million in 2023, a new report showed on Monday.
According to Juniper Research, this growth of 91 per cent will be driven by the advancement of both ADAS (Advanced Driver Assistance Systems) and increasing the capabilities of in-vehicle infotainment systems.
Connected vehicles are those which come equipped with communication technologies that allow the exchange of information between the various elements of the transport system and third-party services.
Moreover, the research found that operators are critical to unlocking new use cases, such as autonomous driving and data-heavy infotainment via 5G; representing a $3.6 billion opportunity for providing 5G connectivity enablement in 2027 globally.
“5G can allow automotive OEMs to upgrade the in-vehicle experience. In a vehicle market transitioning to electric vehicles, improving the user experience is key. Operators hold the critical role in enabling this in a reliable way, making them the partners of choice as their 5G networks rapidly expand,” said Research co-author Nick Maynard.
Further, the research predicts that by 2027, commercial vehicles will account for only 20 per cent of all connected vehicles worldwide, a slight increase from 16 per cent at the end of 2023.
The research also found that commercial vehicle design does not leverage connectivity beyond basic emergency call features and basic connected infotainment systems, though this is changing as businesses prioritise tracking and logistics capabilities.
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Spurred by Government support in the form of subsidies (under the FAME-II policy), enhanced awareness and increasing product launches, the electric vehicle segment has seen a significant upturn in prospects over the past 18 months.