The vehicle data big bang

This is what a big bang looks like

All around us we see the signs. Across the industry and at every step of the value chain players are starting to connect, plan and strategize, and a dynamic mix of ideas and innovations are beginning to appear on the market. This is the period when we can expect to see the biggest successes, but the vehicle data market is not without risk. Now is the time when it really pays off to know the landscape.

Our new Point of View covers the three main fronts that OEMs need to advance on to make data monetization a reality:

• The technical front: Connected vehicles will collect up to 150 TB of data per day in a timely manner. These masses of data must be structured with a dedicated data architecture. Which data is worth collecting?

• The organizational front: Successful (telematics) data monetization requires a structured organization. This needs to be integrated into the overall data organization. Silos between telematics, customers, and other types of data must be broken down.

• The legal front: New data regulations are on the way, and penalties for violations can be severe. Are your strategies compatible not only with current laws, but also with future ones?

Make no mistake – evolving from a manufacturer of physical components to a broker of intangible data is no easy feat. In fact, it would be hard to think of two products as wildly divergent as cars and data. But the rewards are worth it. We predict a vehicle data market of 1.6 billion euros by 2030, followed by further growth far into the future.

We believe that the industry leaders who act first – setting up scalable structures and familiarizing themselves with digital best practices – will gain an unbeatable competitive advantage over the coming years. Read our Point of View and learn the steps to take the lead on vehicle data monetization.