In 2023, a car featuring connected services generates 25,000MB of data per hour—2,777% more than a smartphone, according to McKinsey & Co. As connectivity continues to increase, companies like bi-directional communication platform provider Aiden Automotive Technologies are envisioning an exciting new future. By allowing vehicles, infrastructure, and third-party service providers to communicate easily with each other, it believes vehicle connectivity has the potential to shift automakers’ core business model towards service monetisation.
However, there are still challenges to overcome. Research from IT services and consultancy firm NTT Data found that 86% of surveyed consumers were unhappy about sharing their data with third parties. Crucially, they were also unsure how equitably the value derived from their data is being divided between them and corporate interests. With Deloitte estimating that semiconductors will constitute 45% of a vehicle’s total cost in 2030 (up from 18% in 2020), the questions surrounding vehicle data are only likely to intensify.