Capturing the $47 Billion Connected Car Opportunity Requires Visceral Driver Experiences
Compelling driver experiences and services are the future of the connected car, but automakers and suppliers are struggling to meet expanding driver needs while also aligning their business models to capture new value. Harbor Research and Pillar Technology discuss how companies can succeed in extending the driver experience while positioning themselves to profit from data-driven services and software.
Future Automaker Business Models Lie In Data-Driven Experiences
As automobiles become exponentially more connected and intuitive, automakers must make long-term strategic shifts in their business models. In the near term, there is significant value to be realized around the connected vehicle.
Connected car data is expected to eclipse $47 billion by 2023, but at the moment automakers don’t have a realistic road map for capturing it. Automakers love to flash high-budget sci-fi films with inspiring music while a visually-arresting concept car glides onto a stage at the latest industry conference. But beneath the marketing glitz, these companies have yet to answer two fundamental questions related to the “connected car” opportunity:
- How do I leverage the data to drive more visceral relationships and experiences between drivers and their cars?
- How do I make money from this data?
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