Cross-industry convergence and 5G spark future innovations in mobility technology
Non-automotive companies enter the fray to develop tech for connected, autonomous, shared, and electric mobility along with global auto majors
SANTA CLARA, Calif. — Frost & Sullivan’s recent analysis, Strategic Insight into the Future of the Global Mobility Technology Market, reports that advancements in mobility technology will open new growth opportunities for companies aiming to tap into mobility services and solutions of the future, such as mobility-as-a-service, shared and autonomous fleets, and mobility operating systems.
This is expected to result in greater collaborations and merger and acquisition (M&A) activities in the sector amongst automotive incumbents, technology giants, network infrastructure providers, and mobility tech start-ups.
“Technology is emerging as the centerpiece in mobility. The focus is shifting from operators and business models toward developing technology capabilities. Advanced technologies, such as APIs, artificial intelligence, machine learning, cloud platforms, mobility service platforms, V2X and V2G technologies, and predictive modeling are starting to shape new mobility,” said Abhishek Iyer, research analyst, in a prepared statement. “The interest shown by ICT companies and start-ups towards connected, autonomous, shared, and electric (CASE) mobility has initiated a multi-industry convergence towards mobility technologies. However, a singular approach towards these aspects is restrictive in terms of capturing the huge potential that exists. The collective involvement of participants with varied capabilities is essential towards solving the future mobility equation.”
Iyer added: “Also, 5G networks will play a crucial role in the advancement of future shared, automated, and connected vehicles. Omnipresent wireless networks that have extensive coverage, high data transfer speeds, and low latency will drive the advancements in highly connected shared mobility technologies.”
For further revenue opportunities, Frost & Sullivan advises that market participants explore these strategic recommendations: