2. Mobility Services
Automotive OEMs have already started making a transition from a standalone hardware provider to a hardware + software + and experiences provider. The end-goal is the diversification toward on-demand mobility services such as e-hailing. Notable examples are Ford’s bike sharing service GoBike and GM’s car sharing service Maven. With technology advancing the development of mobility platforms, monetizing customer data can not only generate new sales leads, but also improve the overall efficiency of vehicle use.
Implications and Opportunities
- The wealth of customer information earlier available with dealers can move upstream to influence decision making of automotive OEMs. Here, a combination of data science and machine learning can be employed to offer a huge range of functions such as tracking and tracing large fleets, understanding vehicle health, predictive maintenance and servicing, geo-fencing and customer profiling
Did you know?
An average car has around 50 separate computers controlling the ABS anti-locking brakes, the air bags, the air conditioning and even the locksiv. And all of this without considering modern-day entertainment systems or GPS. On average, today’s car processes around 25GB of data per hourv.
- Shared mobility options such as car-sharing, bike-sharing, ride-sharing offer easy, on-demand availability and freedom from traffic hassles.
Data shows us that 80-90 % of vehicles in the US are parked for most of the day. Autonomous ride sharing will reduce car buying. Customers will prefer to forgo the upfront capital expenditure of owning a vehicle. Further, we see potential annual savings of USD 3,000 – 5,000 per family on personal transportation, including hyperloop, stronger mass public transport systems, autonomous cars and mobility services.
- Chetan Garga, MD and Country Head, AllState Insurance