The Internet of Things has created a new market in the automotive industry, one which is showing no signs of slowing down. Connected cars and their associated services are expected to grow from $13.6 to over $42 billion by 2022.
A glimpse of our collective future can be seen in Cadillac’s Book by Cadillac entrance — a service providing on-demand, luxury, lifestyle-driven vehicles by subscription. The $1,500 per month service will allow members to swap out different models of high-end sedans and SUVs, beginning in New York in February. It’s the same business model as ClassPass or Netflix, but for the GM-owned Cadillac brand, and competes with the likes of Audi’s luxury mobility offering, Audi on Demand.