The cars can remotely unlock, drive and navigate themselves, save themselves from potential hazards
and security threats, manage energy requirements, offer in-car marketplaces with integrated payment platforms, entertain passengers,
take care of their health and homes, manage work diaries, civil responsibilities, and
can integrate the physical and virtual realm.
There services are expected to be available to customers at an annual
cost of $1,600 by 2035. Over the next decade, OEMs must identify their connectivity and subscription revenue strategy - in-car experience is
expected to earn the lion’s share of revenue at 87% with health, energy,
and aftermarket developing as formidable segments. However,
the key challenge is to strike the right balance between subscription costs and customer willingness
to pay. OEMs stand to gain further through developing
competencies in the wider automotive ecosystem such as energy
management services and connected insurance. Tesla, Hyundai, GM, and
Ford are not just selling EVs but the entire spectrum of services such as renewable energy generation,
energy storage, and V2G technology, required for energy independence.
Tesla, GM, and JLR are leveraging connected vehicle data to offer connected insurance services
underwritten by insurance companies. A third revenue stream is data
monetization partnerships with various stakeholders such as cities, automotive workshops,
and others. Several other revenue streams could
emerge from a single connected car. From being
able to communicate with drivers, offering AR based
driver assist and autonomous driving systems and automatically managed maintenance systems,
to managing energy services, insurance and healthcare through the car’s ecosystem.

6G connectivity, V2X technology, and VR repair
and maintenance will change the way customers experience the car.
Major players in the Car as a Connected Living include Mercedez Benz (Germany),
BMW (Germany), VW (Germany), Stellantis (Netherlands), Hyundai (South Korea), Toyota (Japan),
GM (USA), Ford (USA), Nio (China), Xpeng (China). All
OEMs offer vary levels of connectivity solutions through the car.

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