Connected Car Data
Making The Most Out Of Your Data
In 2021, there were 237 million connected cars in operation globally. By 2025, they are expected to reach 400 million. Even more telling, technology experts predict that in 2030, in less than a decade, 96% of vehicles shipped worldwide will have built-in connectivity. As a result, in 2030, the expected connected car market may reach $345.1 billion, registering a CAGR of 17.1%.
A connected vehicle is equipped with Internet access, often including a wireless local area network, to share data with devices inside and outside the car. Built-in IoT sensors collect data to be stored and processed locally.
Gathered data then travels to the OEM platform which may make this data available in a secured manner to third parties for the provision of specific fleet services. Modern connected vehicles can also use networking capabilities to exchange data with other cars and entities like traffic lights or intelligent road signs (V2X or ‘vehicle to everything’ connectivity). By a popular estimate, connected vehicles can generate up to 25 gigabytes of data per hour, creating a constant stream of data that requires due protection.
A SHORT EXPLANATION
What is a connected vehicle?
The drive towards connected fleets has already started. There’s no stopping it, as the combination of data and connectivity offers ways to tackle a whole new range of challenges for fleets in recent years. From spiking fuel prices, through increasing congestion, to exorbitant insurance costs, connected mobility can help fleet operators deal with these issues and mitigate their impact on their company’s profitability. In addition, linking the company’s back-office and drivers allows fleet companies to see their operations as a whole rather than a sum of independent parts.
Such a holistic perspective offers benefits beyond operational efficiencies or improved decision-making. It unlocks driver safety and accountability improvements, vehicle maintenance and longevity, and sustainability and compliance. On top of that, optimizing processes with connected data solutions means cutting down on unnecessary costs and identifying more opportunities for savings. All of which translates into higher profit.
STARTING YOUR PROJECT WITH CONNECTED CAR DATA
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