Vehicle connectivity. It’s been around for what feels like forever. So why hasn’t the automotive world done more to harness its value? Make no mistake: the value is there, but it stretches far beyond the surface level insights you may be currently
using it for.
Fueled by today’s mobility revolution, car data-enabled services is projected to become a $450 - $750 billion market by 2030. Combined with estimated shared mobility revenues, we’re talking about an opportunity that represents approximately
80 percent of today’s one-time vehicle sales.
So how do we get there? Well, for starters, let’s debunk one of the most common myths we’ve found in the OEM world, one that revolves around the idea that the data you already have is all the data you need.
“Lite” data ≠ the right data.
Studies predict that every vehicle in the United States will be connected by 2025. That’s 116 million connected vehicles and, according to one estimate, each one of those vehicles will be capable of uploading 25 gigabytes of data to the cloud every hour.
It’s easy to believe you already have all the data you’ll need (or can handle). But here’s the truth: you don’t. Sure, basic telematics can tell you about a vehicle’s GPS position, its speed, its oil life based on distance,
and whether the “check engine” light is turned on or off.
But when it comes to tapping into the much larger revenue and cost-saving opportunities that connected car data offers—game-changing value in the form of fewer warranty and recall expenses, incremental part sales, reduced fleet downtime, and more
personalized customer services—you not only lack the right data at the right time, you’re missing the right data strategy to help you find it.
Without both, you’re only scratching the surface of what all this data can (and should) be doing for you.
The dawn of engineering-grade data.
What exactly is engineering-grade data? It’s driven by a data strategy which features the right data, at the right time, at the right rate. This then enables the right data for multiple users from data science to warranty resolution. With useful information these teams are able to move quickly and deliver value.
Aptiv Connect enables OEMs to acquire and analyze this high value data, and it’s already changing the way they leverage vehicle insights to hone their competitive
With that right strategy in place, you too can monitor vehicle components down to the most minute vehicle subsystems at frequency rates up to 50x what you’re used to right now. This richer, faster, more high-fidelity data translates into deeper
insights. Mobility insights like transmission shift metrics and energy consumption. Behavioral insights around seatbelt usage and driving styles. Prognostics such as driving emissions and battery health.
Added up through the full vehicle life cycle, you can see the real potential engineering-grade data brings to your OEM party. Engineers can identify, attack and eliminate a post-production issue via an over-the-air updates thereby reducing warranty and improving customer satisfaction. Rental car agencies can minimize fuel losses and slash fleet downtimes with more accurate maintenance predictions and assessments. Insurance companies can more accurately identify and reward safe drivers. And with consumers willing to share personal data in exchange for greater safety and convenience, new business models and revenue streams are popping up every day.
Where will engineering-grade data take you?
Don’t fall for the myth that you already have the data you need to maximize your connected investment. There is so much more available to you, provided you have the right data strategy in place to put it to work in real-time.
By designing every connected data problem backward into the data stream, you will achieve the connected efficacy that will lower your overhead while maximizing the ROI on all your connected data initiatives.