Frost & Sullivan: cross-industry convergence and 5G spark future innovations in mobility technology
Non-automotive companies enter the fray to develop tech for connected, autonomous, shared, and electric mobility along with global auto majors
Frost & Sullivan’s recent analysis, Strategic Insight into the Future of the Global Mobility Technology Market, reports that advancements in mobility technology will open new growth opportunities for companies aiming to tap into mobility services and solutions of the future, such as mobility-as-a-service, shared and autonomous fleets, and mobility operating systems. This is expected to result in greater collaborations and merger and acquisition (M&A) activities in the sector amongst automotive incumbents, technology giants, network infrastructure providers, and mobility tech start-ups.
For further revenue opportunities, market participants should explore these strategic recommendations:
- Providers of future mobility solutions and services must leverage and continue to build on their core technological strengths to capture underlying growth opportunities effectively.
- While the fastest route to gaining access to these technologies is through mergers and acquisitions, companies should develop a strategic roadmap to lay out a clear picture of how their existing core expertise would integrate with the acquisition of new technology capabilities to drive innovation further.
- Extensive collaboration among long-standing participants from the automotive and technology sector along with the value provided by new mobility technology suppliers is required to enable disruption in the evolving landscape. This collaboration becomes even more essential for existing companies to survive and thrive over the next decade, which is expected to change the face of mobility as we see it.
- Success in the mobility technology ecosystem will depend on the development of new business models and revenue strategies, which can harness the potential of cross-industry expertise and incorporate them into mobility technology solutions and services. While the necessary focus on CASE is absolute, a well-defined and timely approach toward it will stand to make the difference.
Strategic Insight into the Future of the Global Mobility Technology Market is part of Frost & Sullivan’s global Automotive and Transportation Growth Partnership Service program.
