In its 2016 landmark study, Monetizing Car Data, McKinsey analyzed the coming opportunity for connected vehicle data by charting out how four industry megatrends of autonomy, connectivity, powertrain electrification, and shared mobility will generate massive amounts of new vehicle and driver data. To begin the study, McKinsey posed the following key question:
How might industry players in the evolving automotive ecosystem turn car-generated data into valuable products and services?
Although these trends have each come a long way since 2016, this question remains a key point for OEMs and other industry players to resolve in 2021 and beyond.
So how should OEMs go about constructing a Monetization Model for Connected Car in 2021? motormindz recommends a four-stage “Finding the Sweet Spots” exploration and development approach.