With the rapid increase in car ownership, many cities are facing saturated road capacities, leading to growing concerns about traffic safety, travel efficiency, and environmental impact. As a key area of integration between information technology and industrial development, the Internet of Vehicles (IoV) plays a crucial role in driving innovation across the automotive, transportation, and communication industries. It is reshaping entire industrial ecosystems and value chains, offering new opportunities for growth and transformation.
The "horn" of the smart car network is sounding, signaling a shift in how we travel in the future. A decade ago, cars were humorously described as “four wheels plus two sofas.†Having gone through the mechanical 1.0 and electronic 2.0 eras, vehicles are now rapidly entering the intelligent 3.0 era. Consumers now expect more personalized and humanized experiences from their cars. However, as the number of internet-connected vehicles grows, companies face challenges related to business models and practical implementation. What will be the true impact of the Internet of Vehicles on the automotive industry?
China's car networking market already accounts for 26% of the global market, with significant growth expected in the coming years. By 2020, it was projected to reach $33.8 billion, and by 2025, it could soar to $216.2 billion, reflecting a compound annual growth rate of 208.5%. With the expansion of smartphone integration and advancements in embedded systems, car networking technologies are set to become widespread in households.
As market demands diversify, networking technology—especially in the context of new energy vehicles—is becoming a hot target for the auto industry. While the concept of the Internet of Vehicles has existed for years, technological limitations have prevented major breakthroughs. Despite growing interest and early efforts, real progress has been slow.
In the age of intelligence, Chinese consumers are showing higher expectations for car navigation, information, entertainment, and driving assistance systems. This large consumer base and strong demand are creating substantial opportunities for the development of China’s car networking industry.
After years of growth, China’s electric vehicle industry has developed a relatively complete independent research, design, and manufacturing system, with some areas reaching world-leading standards. Against this backdrop, the domestic auto market, aiming to lead the new energy vehicle industry, is taking a long-term perspective. The intelligent vehicle networking ecosystem, integrating all players along the supply chain, is seen as a key vision for the future.
Even though big players are competing for the concept, it’s still too early for car networking products to truly enter mainstream use. According to recent data from U.S. automotive research organizations, 31% of U.S. consumers are unaware of connected car technology, and at least 20% of new car owners have never used advanced features like automated driving or remote diagnostics. Only 21% of new car buyers are willing to pay for customized networking services.
This situation is also evident in China. Currently, the car networking and intelligent transportation industry is still in its early stages. Car-to-car communication and vehicle-road synergy are emerging trends. Most current car networking systems are limited to in-vehicle navigation and entertainment with basic connectivity, allowing vehicles to access primary services via public networks.
Looking ahead, the Smart Vehicle Network—a comprehensive system integrating transportation, information, and smart grid networks—has the potential to revolutionize how people travel, interact with information, and manage energy. In the future, wireless short-range communication technology may enable real-time interaction between vehicles and roads, providing critical micro-environmental data such as speed and position, helping to predict accident risks, and improving traffic safety and efficiency. Companies that have invested in internet operating systems, driver assistance systems, sensors, and chips are likely to gain a competitive edge first.
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