How can automakers better leverage connected car data?
#TUDetroit kicks off today and we are excited to be a part of the world’s biggest conference and expo for future auto technology. Industry giants from GM, Toyota, Ford and more will be exploring the exhibit hall for the latest and greatest auto technologies out there to help enhance the driving experience and improve the future of mobility. We’re honored to again join forces with Airbiquity, a leader in connected vehicle services, to showcase what joint solutions we have to offer OEMs to better leverage connected car data for better customer experiences and revenue generating opportunities.
On display at TU-Automotive, we will be showcasing a new technology offering alongside Airbiquity, the leader in connected vehicle services. This collaboration integrates Airbiquity’s OTAmatic™ over the air (OTA) software and data management offering with Arity’s data analytics and insights capability. Together, we will help automakers leverage and generate revenue from the data collected in cars.
According to analysts at Frost & Sullivan, monetary rewards for automakers leveraging connected vehicle data are primed to be extremely lucrative, as evidenced by a forecast of $33 billion in revenue opportunity by 2025. Connected vehicles are becoming increasingly dependent on software updates and connected car data analytics to power future automotive services, third-party ecosystems, and related data revenue-generating efforts.
Between regulations, lack of partnerships, consumer preferences, and organizational structure, automakers have faced challenges when looking at the monetization of connected car data. Airbiquity and Arity have joined forces to provide an innovative solution for automakers to overcome those roadblocks. The collaboration allows them to take the collected data and make insightful revenue generating decisions with it. The data monetization opportunities expand from insurance use cases such as simplifying the telematics-based insurance experience or rewarding drivers for using advanced safety systems in their vehicles, to helping sharing economy operators improve profitability and creating safer navigation solutions.
“There is tremendous earning potential from using collected vehicle data as evidenced by analyst forecasts in the tens of billions,” said Kamyar Moinzadeh, President and CEO of Airbiquity. “Combining Airbiquity’s OTAmatic software and data management product with Arity’s data analytics expertise provides a data technology and service delivery roadmap that increases profit potential while improving customer service and loyalty.”
“As we look to the future, a self-driving car can generate 1 gigabyte of data per second, which means 30 seconds of driving would fill up the memory on a typical iPhone,” says Gary Hallgren, President of Arity. “More data means more money and automakers are in the best position to put this data to good use. The data from connected cars is rich and diverse, helping Arity to create better insights for our ecosystem partners. Our collaboration with Airbiquity allows us to put our technologies to work through one solution that will allow automakers to find real economic value in the collected data, while continuing to be at the forefront of the next wave of automotive innovation.”
Traveling to Detroit for the event? Stop by to see to preview our technology integration at the Arity Booth #135.