Study from McKinsey Center for Future Mobility (March 2018)
Over the last few years, car connectivity has evolved from a theoretical concept to reality. As a global value pool, connectivity may reach USD 450 billion to 750 billion worldwide by 2030, but this depends on the ability of market players to use the data generated by cars, drivers, and mobility systems to develop products that create revenue, reduce costs, and enhance safety and security. While the potential is significant, monetizing this car data at scale remains a major challenge.
Many companies in the automotive and adjacent sectors are investing in their ability to extract value from car data; some are launching pilots and others have started to scale up their offers and capabilities. While optimism remains high, however, some critical challenges limit players’ ability to capitalize on their growing access to data and profitably take CDM from paper to reality.