Connected Car
Currently, developments are undergoing in LiDARs for mass commercialization, which will significantly reduce the LiDAR prices significantly, thereby boosting the adoption of connected services globally. Increasing investments by EV automakers to fully electrify their vehicle models are expected to drive electrically connected car technology developments further. According to MarketsandMarkets estimates, China's passenger car production is expected to reach 24 million units by 2027, presenting a huge opportunity for connected car manufacturers globally and domestically. However, the penetration of connected cars is still at a nascent stage. Japanese automotive companies continuously develop advanced electronics/devices for connected car technology.