Predictions of the global revenue for vehicle data monetization by 2030 range between $80bn to $800bn, highlighting the enormous potential for both automotive OEMs and service providers using data for service innovation.
However, despite heavy investments in IT platform infrastructure, in-car technology, and service innovation by OEMs, achievements are falling short of projections. Volumes of connected vehicles started to rise later than expected and data signals are often restricted to a limited set of basics. Factors such as these mean market growth are slower than many experts have predicted.
Capgemini has undertaken extensive research into this area, including a survey of 3,000+ end-customers in the EU and industry expert interviews. This research explores the main obstacles and investigates how automotive OEMs and service providers can better exploit the potential.