|Automotive Data Monetisation Pricing and Business Models|
|By 2025, Data Monetisation is Expected to Unravel ~$33 Billion in Opportunity for OEMs, with the Potential to Monetise $100 per Car Across 140 Unique Use Cases|
This study analyses the strategies, growth analysis, competitive landscape, business models, and future focus areas of OEMs, data aggregators, usage-based insurance (UBI) companies, and tier 1 suppliers. OEMs, tier 1s, insurance companies, and data aggregators must focus on data services around smart mobility, connected cars, and autonomous vehicles (AVs) and must introduce new business models between 2022 and 2030. UBI companies, data aggregators, and aftermarket OBD II companies and the rise of Uber, Apple, and Google in the automotive market are pushing OEMs to finally realise the true potential of harnessing data and turning the same into successful business models.
OEMs and tier 1 suppliers have realised that digitisation along with IoT, technology partnerships, software capabilities, and customised solutions will be the way forward for the global automotive industry. The growing number of digitalisation initiatives and pilot projects with a software-centric focus by automotive OEMs and tier 1s will increase automotive IT spending from $37.9 billion in 2015 to $168.8 billion in 2025 (CAGR of 16.1%). Connected cars, AVs, and ride sharing provides more use cases for data monetisation.
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