June 19, 2017
According to a research report released by Technavio, the global connected car market is expected to reach USD 144.95 billion by 2020 and growing at a CAGR of more than 32%.
The demand for in-vehicle connectivity and telematics has led to technological improvements, which aim at enhancing the overall in-vehicle experience of both the passengers and drivers. Siyata Mobile Inc. (TSX-V:SIM | OTCQB: SYATF)‘s Uniden® UV350 4G/LTE is the world’s first and only in-vehicle connected cellular device with Push-to-Talk over Cellular (“PoC”) compatible on “Band 14”, and strongly positions Siyata to be a leading candidate for in-vehicle PoC solutions for first responder vehicles migrating to the FirstNet Network.
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The report also indicates that smartphone penetration across the world has increased significantly in the recent years, as more emerging markets are now adopting to new technologies. As a result, the need for integrating smartphones with the vehicle systems is expected to grow further. It is estimated that the global smartphone penetration was about 25% in 2015 and it is expected to reach 38% by 2020.