The connected car: Tech’s next gold rush

Although it seems like an innovation that should have occurred years ago, the stage appears to be setting for the connected car to come to fruition, opening up a market that could surpass $ 131 billion in the next six years, according to a new report from Transparency Market Research.

The signs of this growth, which TMR forecasts at a 34.7% compound annual growth rate from 2013 to 2019, have materialized in the market slowly in the past year or so, with Chevy boasting in-car 4G LTE in TV commercials this summer. General Motors was hardly the first car maker to offer in-car LTE or Wi-Fi, joining the likes of Ford, Chrysler, and Audi in the race to meet a suddenly burgeoning demand. A J.D. Power and Associates survey from earlier this year found that 38% of respondents in the market for U.S.-built cars identified “the latest technology features” as a key selling point.

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