MG Motor India, a wholly-owned arm of China’s SAIC Motor Corp Thursday tied up with connectivity management platform Cisco IoT and UNLIMIT – a specialist IoT services provider – to develop vehicles with connected mobility features.
The company which is all set to drive-in its first product a premium SUV in the next few months also released a white-paper on ‘Connected Mobility – Growing Possibilities in India’ in association with management consulting firm Arthur D Little.
According to the report, the value of the connected mobility market could reach the size of USD 3 billion by 2020 in India. Currently, only 2 percent of cars in the country are considered connected cars.
As per the report, the demand for connected car services is expected to grow exponentially in India and mirror the global growth trends. Globally, the size of the connected mobility market is projected to grow to USD 175 billion by 2020, as against USD 44 billion in 2015.