The value of the connected mobility market could reach the size of $3 Billion USD by 2020 in India, reveals an industry white-paper report released by MG Motor India.
MG Motor India on Friday announced its partnership with leading connectivity management platform Cisco IoT and IoT services provider UNLIMIT to develop connected mobility enabled vehicles.
“The partnership with both tech giants involves incorporating tracking, security and navigation amongst many other features in our vehicles, with an aim to offer a differentiated customer experience in India,” said Rajeev Chaba, President & Managing Director, MG Motor India, in a statement.
Releases industry white-paper report
The company also released a detailed white-paper on ‘Connected Mobility – Growing Possibilities in India’ in association with management consulting firm Arthur D. Little.
The report reveals that the value of the connected mobility market could reach the size of $3 Billion USD by 2020 in India. Currently, only 2% of cars in India are considered connected cars.
It further predicts that the demand for connected car services may grow exponentially in India and mirror the global growth trends. Globally, the size of the connected mobility market is projected to grow to $175 Billion USD by 2020, as against $44 Billion USD in 2015, according to the report.
A collective effort to accelerate connected automobile revolution
Commenting on the partnership, Alok Srivastava, Regional MD, SEA (Cisco IoT) said, “Cars of the future would not be seen just as a product but a platform, through which various services can be offered. A vehicle that is constantly connected offers a myriad of opportunities. It gives us great pleasure to associate with an iconic name such as MG Motor to accelerate the Connected Automobile revolution collectively.”
Juergen Hase, CEO, UNLIMIT, added, “The consumer demand for connected mobility enabled vehicles in India has strong potential and is expected to mirror global growth trends, thereby also opening vast avenues for start-ups to develop domain specific applications and services that will enhance customer experience.”
MG Motor India, a fully-owned subsidiary of Chinese carmaker SAIC Motor Corporation, is readying its Halol manufacturing facility to roll out its first SUV in the next few months.