Global automotive industry statisticsThe major independent and exclusively automotive focused international forecasting and industry intelligence service provider of automotive sales, production, powertrain and electrification. One particular of the quite a few key trends in the automotive sector is the improvement of networked and smart vehicles. From 2016 to 2020, the international connected vehicle industry with develop at an annual rate of 32.26% according to Technavio. According to Machina, connected solutions to and from cars will reach a worth of $400 billion by 2022. Automotive organizations must invest in network technologies and create partnerships with telecommunications companies in order to exploit this trend.

Across industries, innovation is largely measured by the amount of R&D resources allocated to drive innovative merchandise and attributes. Given the future roadmap of automotive innovation, which largely overlaps with the tech market, it need to be of no surprise that R&D figures correlate with this trend. The automotive … READ MORE ...