Connected Car Innovation Powers Shoppable Infotainment Systems
The connected car is becoming the ultimate mobile device and its internet enabled ecosystem is forecasted to generate over 600 billion dollars annually by 2025. Tesla raised the bar on what the connected car could be with its Model S, and continues to set benchmarks for the entire autonomous/electric car industry.
The ever expanding digital lifestyle has pushed global demand for the connected car to adapt to our needs: as smart phone enabled or built-in mobile applications seamlessly connect with car’s systems to guide us to our next destination via Google Waze or to play our favorite playlist via Spotify. There is no limit to what connected cars can offer today and the mobile internet is fast improving our driving experience.
As the race for delivering the ultimate self-driving, autonomous vehicle speeds up, it brings us closer to the unavoidable future where drivers will become obsolete, making everyone a passenger in need of entertainment. In other words, the arrival of self driving cars will usher a new era of mobile consumers.
Connectivity is an important part of all modern vehicles. Integrated Alexa-enabled devices are already paving the way for e-commerce experiences inside BMW and Audi cars. GM has designed an in-vehicle app that supports specific retail transactions. Fiat Chrysler Automobiles, Renault-Nissan-Mitsubishi and Volvo are all building entertainment systems on Android. By 2023, over 20 million vehicles shipped will come equipped with Amazon Alexa, Google Assistant, or both. However, this is just the beginning of the connected car content (r)evolution!
“If you think car infotainment screens are large now, they will be dwarfed in due time. Screens will rival home TVs in size, with full touch interactivity equal to any modern smartphone and high-speed internet access for apps, content streaming, e-commerce, games, and more. In addition, head-up displays (HUDs) will project visuals on the windows, providing an augmented reality-esque utility while traveling,” highlights a recent consumer watch report article.
AiBUY takes the notion of the connected car e-commerce even further by offering the fully interactive and shoppable video overlay technology. It allows brands to further increase the power of their existing connected car entertainment content by converting any video or image into a frictionless digital store, right on the car’s touchscreen display. In the near future, where autonomous vehicles are the rule not the exception, you will be able shop while you watch videos and as you are driven around. For brands like Tesla, where profit margins are slim to remain competitive, adopting connected car e-commerce tech can offer new, untapped revenue opportunities.
Recent studies by Forrester showed that up to 71 percent of surveyed consumers prefer content that is personalized and relevant, including ads. Given the mountain of automotive vehicle data, along with some AI and AiBUY tech, imagine making reservations for a hotel room on a car screen as you watch their promo video driving on the way there? Or search up a recipe video and download coupons as you approach the grocery store? Perhaps you are watching the latest music video of your favorite artist and want to buy the same necklace they are wearing? Technologies today can make it happen and on the go!
“The development of next-generation infotainment systems is being strongly influenced by both key technological trends such as the shift towards connectivity, voice control and increasing hardware complexity and changing ecosystem dynamics because of new market entrants. This has created both challenges and opportunities for existing market incumbents that must keep abreast of the technological trends, while also creating new openings for those entering the market,” recent ABI research study concludes. So, it’s no wonder that the NYT calls autonomous vehicles “living rooms on wheels.” As content becomes an indispensable part of the autonomous journey, brands would be wise to consider business opportunities beyond the entertainment and subscription models of applications like Sirius XM or YouTube. Smart monetization of the connected car content, instant and at the passenger’s fingertips, will define the autonomous vehicles of the future.