‘Data is the new oil’ – a phrase first coined in 2006, long before widespread connectivity was a genuine consideration for the mainstream automotive industry.
Just over a decade later, 33 million connected cars were shipped according to TomTom Telematics, with half of all new cars sold worldwide considered ‘connected’. By 2022, says the Dutch company, 37.9 million trucks will be connected, up 122% over 2015, and by the middle of the next decade, 88% of all new cars globally will be equipped with integrated telematics.
Automakers know this data is valuable. Start-ups, suppliers and tech giants all want to develop solutions for the mining and refining of this data; and customers are prepared to give up this data in exchange for ‘free’ content and services.
The data is valuable – but what is it worth? For now, the automotive industry is treating data as liquid gold, and becoming seemingly dependent; it is perhaps ironic that the same industry is working hard to wean itself off the black stuff.
This Automotive World report sheds light on the way automakers and suppliers perceive data, and how start-ups and tech giants believe they can be a part of the data rush.
In this report:
- Executive summary
- Automotive data – the ultimate hard-to-value asset?
- For what it’s worth, automakers value their data
- Asset management: truck makers treat data as a high value cargo
- Data turns big rigs into smart shipping centres
- For automotive suppliers, data is a virtual lubricant
- Staggering data volumes demand savvy management
- Flexibility and innovation essential for data start-ups
- Bright lights, Big Data: ‘smart’ lies at the heart of city success
- Sustainable manufacturing: car factories run better on smart data
- Liquid gold or snake oil? Auto industry considers the true value of data
‘Special report: Is automotive data the new oil?’ includes insight from experts at a range of leading automotive industry stakeholder companies, including:
- Nissan Europe
- Cube Intelligence
- Current by General Electric
- Ito World
- McKinsey Center for Future Mobility
- Roland Berger