By Lisa Joy Rosner, CMO, Otonomo
Just over two years ago, the European Automobile Manufacturers Association (ACEA) announced its neutral server initiative. This joint effort by multiple European vehicle manufacturers makes automotive data available to interested third-party Service Providers in a safe and secure manner, without requiring those third parties to sign a contract with a manufacturer. Continue reading
Interview with Dr Matthias Schubert, Executive Vice President Mobility, TÜV Rheinland
Article by Prof. Dr. Ulrich Lichtenthaler, ISM International School of Management
There are huge opportunities in monetizing car data. Before turning the attention to capturing value, however, executives need a thorough understanding of their firms’ value proposition, value creation and competitive positioning. Many solutions that are currently developed may have a limited competitive impact, which reduces their potential for monetization.
Interview with Raid Naim
The shift from a products- to a service-business in the automotive industry is currently discussed a lot. But, hasn’t this change been happening since a while now?
Yes, this trend has been going on for a while. However, the accelerating change in the automotive market from being a seller market to being a buyer market, the increasing value of digital components and the change in regulations are making this shift essential for the survival of many players in the market. This shift has a big impact on the profits in the automotive sector and is forcing a change in value proposition. The pure driving performance will become less important than a thought-through mobility approach.
Article of Mc Kinsey Quarterly (November 2018) by Michele Bertoncello, Asad Husain, and Timo Möller
The connectivity experience of drivers and passengers will soon be transformed, with the potential for significant value creation. Here is a framework to measure progress.
Today’s and tomorrow’s car will increasingly be connected. However, there is no clear-cut standard yet to define what “connectivity” means:
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.
Statista Digital Market Outlook – Market Report
Increasing internet penetration inevitably leads to growth of digital services. This development has also reached the automotive industry. OEMs equip their cars with multiple digital components, offering a digital experience and increased driver safety and convenience to their customers.