SEMA eNews Vol. 20, No. 46, November 16, 2017

Business Opportunities in the Advanced Vehicle Technology Market

By Jenny Galvan

  Market Report
The “SEMA Advanced Vehicle Technology Opportunity Study” details the retrofit opportunities for Advanced Vehicle Technologies (AVT), which include Advanced Driver Assistance Systems (ADAS) and Connected Vehicle Technologies (CVT).
   

The “SEMA Advanced Vehicle Technology Opportunity Study” details the retrofit opportunities for Advanced Vehicle Technologies (AVT), which include Advanced Driver Assistance Systems (ADAS) and Connected Vehicle Technologies (CVT). While these technologies are becoming common on new vehicles, SEMA researchers developed this analysis to help SEMA members understand a new path of opportunity to develop and sell these products for vehicles not originally equipped with this technology. This study can be used as a resource to guide product and service planning and entry strategies into a burgeoning market.

The developing growth potential for this market is predicted to increase from $977 million to $1.5 billion between now and 2021—a 9.1% annual compound growth rate. With the technological changes happening in the automotive market, these systems represent a significant new opportunity developing in the marketplace.

For more detailed information about these findings, download the “SEMA Advanced Vehicle Technology Opportunity Study.” It is available, along with other reports, for free to SEMA members.

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