IDTechEx Discusses Why the SDV Market Will Be Worth US$700 Billion by 2034
BOSTON, April 15, 2024 /PRNewswire/ -- The SDV and AI Cars market is set to be worth over US$700 billion by 2034, representing around 20% of the global car market, according to IDTechEx's "Software-Defined Vehicles, Connected Cars, and AI in Cars 2024-2034" report. That sum can be sourced from several areas, such as monthly connectivity subscriptions, commission from in-vehicle payments, and one-time software upgrades. Thanks to improvements in-car connectivity, onboard hardware capabilities, and a global shift in consumer preferences toward subscription models, the software-defined vehicle market is set to grow at 34% CAGR between 2023 and 2034.
- BOSTON, April 15, 2024 /PRNewswire/ -- The SDV and AI Cars market is set to be worth over US$700 billion by 2034, representing around 20% of the global car market, according to IDTechEx's " Software-Defined Vehicles, Connected Cars, and AI in Cars 2024-2034 " report.
- In Europe, Ford charges only roughly €25 a month, depending on the country, demonstrating the variance and flexibility in SDV pricing.
- Key aspects of the IDTechEx report:
- An extensive discussion on how software is becoming a key differentiator for automakers and consumers. - For the full portfolio of autonomy market research available from IDTechEx, please see www.IDTechEx.com/Research/Autonomy .