Connected Vehicles Generate BIG Data

14 Feb

This post is a follow-up to yesterday’s.

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As we know, the auto industry is in the midst of a major technological revolution. Although self-driving vehicles have garnered a huge amount of attention, “connected” vehicles will also have an enormous impact on marketing. Why? From the consumer’s point of view, connectivity means better Bluetooth interactivity, GPS systems, entertainment systems, roadside assistance, diagnostics, and more. From the seller’s point of view, connectivity means access to lots of big data.

Consider these observations from Felix Richter, writing for Statista:

“Modern cars are equipped with more than 100 sensors that create a constant stream of data. Measuring things like location, performance, physical parameters, and driving behavior, often several times per second, the amount of data generated by these sensors is immense. According to a McKinsey estimate, connected cars create up to 25 gigabytes of data per hour. That’s the equivalent of nearly 30 hours of HD video playback and more than a month’s worth of 24-hour music streaming.”

“According to the analysts in charge of our Digital Market Outlook, the data created by connected cars have a lot of potential in terms of monetization. Think insurance companies for example, who would likely be willing to pay good money to find out more about our driving habits. For more information about this exciting new market, please download our free market report Connected Car: Vehicle Services.”

 
Take a look at this chart to see how big the data collected from connected vehicles really are.


 

4 Responses to “Connected Vehicles Generate BIG Data”

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  1. Connected Vehicles Generate BIG Data | Social M... - February 14, 2017

    […] This post is a follow-up to yesterday's. ___________________________________________________________ As we know, the auto industry is in the midst of a major technological revolution. Although self-driving vehicles have garnered a huge amount of attention, "connected" vehicles will also have an enormous impact on marketing. Why? From the consumer's point of view, connectivity means better Bluetooth interactivity,…  […]

  2. Connected Vehicles Generate BIG Data | Retailin... - February 14, 2017

    […] This post is a follow-up to yesterday's. ___________________________________________________________ As we know, the auto industry is in the midst of a major technological revolution. Although self-driving vehicles have garnered a huge amount of attention, "connected" vehicles will also have an enormous impact on marketing. Why? From the consumer's point of view, connectivity means better Bluetooth interactivity,…  […]

  3. What Was Hot in 1997? | Evans on Marketing - February 16, 2017

    […] tend to spend a lot of time looking at the “hot new things,” such as connected vehicles, virtual assistants, and a lot more. But, as marketers, we seldom look back to the past to see what […]

  4. What Was Hot in Technology? 20 Years Ago! | Retailing: From A to Z by Joel Evans - February 16, 2017

    […] tend to spend a lot of time looking at the “hot new things,” such as connected vehicles, virtual assistants, and a lot more. But, as retailers, we infrequently look back at the past to […]

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