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 has 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”.