THE IN CAR EXPERIENCE
We’re pleased to share with you Axis Innovation’s latest Industry Report about the In-Car Experience, quickly becoming one of the most critical areas of the automotive industry today.
Based on our firsthand experience working with both automakers and mobility startups since 2013 combined with industry research and interviews with leading automotive ecosystem players, this report takes a deep dive into the challenges and opportunities of the in-car experience. We highlight cutting edge startups from Israel and Europe in each category, offer our predictions for the future, and share our latest thinking on how all sides of the mobility ecosystem can position themselves for success with the in-car experience.
Read below for the introduction and to download the full report for free. I hope you enjoy and find it engaging and useful — contact me to share your thoughts and to learn more about our open innovation work in mobility.
Jason Weiss - COO & Dealflow Manager: jason@axisinnovation.com
INTRODUCTION
The automotive industry is undergoing a dramatic period of change. New technologies and changing consumer preferences are transforming what a car is, how we own or share it, and what we do while we are inside. Traditional business models are being disrupted at an unprecedented pace, with more than 50% of global automotive ecosystem revenues expected to be in “disrupted” business areas by 2030. We are starting to see the creation of exciting ecosystems in the automotive world with new players, novel business models, and large profit opportunities up for grabs. One of these areas is the in-car experience.
While a majority of attention is focused on the race to develop electric and autonomous vehicles, another race is heating up for the best in-car experience. Electric and autonomous technology will change how we drive (or are driven), but in-car technologies will change what we do in the car. This question of what is one of the major challenges and opportunities of the automotive industry today that deserves a thorough understanding and analysis.
Inside the vehicle, both hardware and software innovation are converging to dramatically change both how we interact with the car and how we’ll spend our time in the vehicle. Connectivity and autonomous technology will enable the car to become a platform for drivers and passengers to use their transit time for personal activities such as new media and business services, and regain as much as 50 minutes a day for the average driver. The revenue potential is extraordinary — a report by McKinsey estimates global digital-media revenues of €5 billion per year for every additional minute people spend on the mobile Internet while in a car. For automakers, the experiences they provide in the car is fast becoming one of their main marketing points and a key factor for people deciding which car to choose.
Understanding the trends and opportunities of the in-car experience today is critical for automakers and new entrants to the industry to differentiate their offerings, capture market share, open up new revenue streams, and provide the best possible mobility experience for their customers. In this Axis Innovation Industry Report, we’ll examine the historical steps that have brought us from the radio to the infotainment system and beyond. Then, we’ll break down the in-car experience into two major areas of innovation, software apps and human machine interfaces (HMI). In each, we’ll identify the major trends and technology breakthroughs, market opportunities, examples of automotive leaders and innovators, and highlight some of the most exciting startups in each field. Throughout the report, key insights are added to provide practical takeaways and strategies.
Ready? Let’s go!
