Tech stocks set to gain at expense of auto

Tech stocks set to gain at expense of auto

Since the early days of the automobile, innovation has been about speed, design, fuel efficiency, and engineering. All of those things continue to be important of course, but in our increasingly technological world, another factor is set to be big business – how clever the car is. The demands of the tech-savvy consumer is for cars that can do more for us; integrate with our other tech, manoeuvre into that tight space in the parking lot, drive us home after a long day at work. While most motor manufacturers are actively embracing technology, it is the third party providers of those innovations that stand to benefit. The big names are there of course; Google and Apple for example; but smaller businesses are also set to become the darlings of investment as their innovations create massive potential. There’s an expected boost to ‘connectivity’ of vehicles in the next 5 years, from 10 per cent now to 90 per cent by the end of the decade. For tech-loving investors, this could be one of the most exciting of times. Read the full story.