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Can connected cars drive IoT monetisation?

Posted: September 21, 2016 By: Category: Stephan's Blog Comment: 0 Read: 1675 times
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The connected car has many advantages when viewed as an IoT platform. Today’s vehicles contain sensors and other computing centres all over the vehicle, connected to a TCU using an internal network. Connected vehicles also have access to cloud storage and external sources of data and intelligence through wireless networks and mobile apps. They possess onboard processing power to act on locally generated data, making changes to the vehicle’s physical environment or selecting appropriate data sets to send to the cloud for further analysis. But again, how can all these capabilities be leveraged while monetising IoT offerings?

If IoT value is created by solving a problem, IoT monetisation is created to enhance the solution. Here are the four ways connected cars can drive IoT monetisation.

Bring together your customers and suppliers

The key to bringing new apps and services to customers and growing developer and supplier support is by creating a dedicated place for them to come together. A place where the OEM can cultivate a vibrant ecosystem of hardware, software, firmware, content and service providers, and where innovative business models needed to monetize this ecosystem are realised. To turn this place into a marketplace, the OEM must be able to provide a branded user experience, merchandising offerings, and a secure OTA model so drivers can discover products and services for their connected lives and have them delivered to the car remotely.

Provide real life use cases

Predictive maintenance is an interesting use case that pulls things together. It all starts when an automotive OEM test team discovers a relationship between sensor readings, for example; heat and vibration originating from a set of parts, and resulting breakdowns. It is determined that proactively replacing parts exhibiting these behaviors is a win for the driver, OEM and dealer. The solution components include a sensor instrumentation package to listen for the tell-tale pattern. This information is forwarded to a cloud service which interfaces to find a dealer, and after reaching out to the driver using an app on the vehicle head unit, mobile device or portal, schedules the service and orders the required parts. This scenario ultimately ties the traditional servicing model of vehicles to IoT, enabling intuitive servicing and customer retention.

Last modified on September 21, 2016
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