Connected Cars Serve Up a Feast of Consumer Data, but Who Will Benefit"
Carmakers are lining up to devour a buffet of data cooked up by consumers using their sensor-laden vehicles. Some connected-car data is already being monetized, or bought and sold, but according to an October 2017 report by market-research firm Frost & Sullivan, only about 15 percent of the connected car’s potential “use cases” are being harvested. There is still a whole mess of potential options, such as municipalities keen on making smart cities, fleet-management companies looking to improve efficiency, and, of course, advertisers drooling over captive audiences.
The sheer value of the amount of data expected to be flowing, and subsequent revenue opportunities for a whole range of players, has prompted some industry observers to wonder whether car buyers might get some kind of compensation?royalties or potential discounts on vehicle purchases, for example?in exchange for signing over their data. So far, such comments have been meant more to underscore how valuable the information is, rather than to predict actual incentives from automakers. “We have not considered this type of incentive to date,” Toyota spokesperson Brian Lyons told C/D in an email. But Toyota and other automakers have very much considered the use of connected-car data. In April 2016, Toyota launched a new company, Toyota Connected, that harvests vehicle data in a partnership with Microsoft Azure cloud technology to “develop predictive, contextual, and intuiti...
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