In the future cities, IoT will play a crucial role in connecting things. The new paradigm in transportation is going to be happening in the near future. Mobility as a Service (MaaS) or Transportation as a Service (TaaS) and connected vehicles are primary aspects of a new paradigm. It means that instead of using the car like today, but, as with existing ride-hailing or car-sharing services, vehicles will be booked or hailed through an app. But not only personal transportation but also cargo transportation is changing significantly. The leading technology behind this is the software-driven autonomous systems, which has been come to intelligent enough to start replacing the human driver or operator. The future of the automotive ecosystem is heading toward the integration of multiple domains, such as the Internet of Things (IoT), connected vehicles, autonomous vehicles, and V2X communication. The integration and shift in focus will make software-defined cars to be the essence of connected vehicles in the future. Moreover, as the ecosystem expands, the market would notice extreme competition from both proprietary and open source solution providers.