Becoming a Data-Driven Automotive Tier-1

Authors

S. Xiang, A. Hebling, Vitesco Technologies GmbH, Regensburg:

Year

2023

Print Info

Production/Publication ÖVK

Summary

With the greater proliferation of shared mobility, progress in powertrain electrification, car autonomy and vehicle connectivity, the amount of data generated from vehicles will grow exponentially. Cars generate data and provide insights into about how they are being used, where they are, and their systems performance.

By 2030, the overall revenue opportunity created from car data monetization might add up to USD 250 - 400 billion globally by 2030, according to a study released by McKinsey. Car data monetization will challenge the present approach to mobility solutions and compel decision makers to quickly make pragmatic changes in their strategies and business models.

Players in this evolving space are creating value from car data in one (or in a combination) of three overarching categories: revenue generation, cost reduction, safety and security enhancement. Tier-1s are also starting to seize opportunities in this field. Benefitting from the current discussion of the EU Data Act, consumers and businesses are expected to own the data of their devices and use it for a variety of value-added services.

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ISBN

978-3-9504969-2-5