Frost & Sullivan, which collaborates with clients to leverage innovation to addres global challenges and related growth opportunities that will make or break market participants, notes that Apple has been secretive about its alleged future mobility program “Project Titan.” However, they observe that considering a recent hiring spree of automotive experts, patent publications related to connected car technology, and $10 billion spent on research and development, Apple is expected to offer connected, autonomous and shared mobility solution.
Frost & Sullivan’s Scenario Analysis of Apple’s Strategy to Enter the Car Industry discusses the possible products and/or services that Apple could offer through “Project Titan.” The analysis also explores the rationale behind Apple’s interest in the automotive industry and details the most probable service and/or product that is Apple is expected to release by 2021.
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“Apple has a long way ahead before its autonomous vehicle becomes a reality. With automotive and technology companies working together to build autonomous cars, Apple is expected to face fierce competition when it launches its product(s)/service(s),” said Frost & Sullivan Mobility Research Analyst Ajay Natteri.
In addition, growth could be hindered in initial years by customer fear of fully autonomous vehicles, existing laws for autonomous car use and accident liability issues.
“Apple’s entry into the automotive industry will help it complete its ecosystem, comprising devices software, cloud storage, and home kit thereby, offering seamless access to personal data both at home and on the move,” noted Natteri. “Its acquisition of companies in the field of artificial intelligence and machine learning indicates interest in creating a service solution for the automotive industry that could revolve around the iPhone.”
Scenario Analysis of Apple’s Strategy to Enter the Car Industry is part of Frost & Sullivan’s Automotive & Transportation Growth Partnership Service program.
Source: Frost & Sullivan