The Connected Car Opportunity – It’s Big

Quite a lengthy article by McKinsey looking at the opportunities from connected car data. Connected cars provide a unique customer experience opportunity for OEMs, suppliers, dealers, insurers, fleets, tech players, and beyond. To date, however, most players have overlooked or been unable to monetise data from these vehicles. According to McKinsey, seven of the ten most valuable companies in the world already generate billions in profits from data-based services. So, it would be expected that new attackers, tech companies and incumbents will work out how to exploit and scale connected car data opportunities soon.

McKinsey identifies several clusters which contain 38 use cases that could deliver $250 billion to $400 billion in annual incremental value for players across the ecosystem in 2030. These figures include additional revenue generated from services and data sales, as well as cost savings enabled by car data. Read more

Source: McKinsey