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Can Connected Cars Drive IoT Monetization?

appcarousel Blog

AppCarousel has attended numerous Internet of Things shows this year including the IoT World in Santa Clara. The news surrounding Industrial IoT garnering a majority of the investment activity and in turn most of the revenue, was a telling trend. In the instrumented construction equipment space, for example, the market is so mature that equipment users now already expect predictive maintenance savings to be reflected in their purchase quotes . Even more interesting, was the fact that they also expected to be compensated for allowing the equipment supplier to make use of “their” data . When reviewing Consumer IoT and the Connected Car space, the business models and monetization options are still being defined and understood. The question remains: how can the Connected Car better monetize IoT plays aimed at consumers and define new revenue streams?

The Connected Car, unsurprisingly, has many advantages when viewed as an IoT platform. Today’s vehicles contain sensors and other computing centers throughout the vehicle, connected to a TCU using an internal network. Better yet, 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. So how can automakers and Tier 1 companies leverage all these existing capabilities and monetize their solutions and services while offering drivers a better experience inside and outside the car? The answer resides in utilizing the power of the connected car to provide insight, build an ongoing relationship with customers, and transform vehicle ownership into a more personalized software service.

IoT value is created and defined by solving a problem: identifying relevant data to collect and applying an algorithm to that data to compute contextual results, providing critical insight to drivers, to automakers and the larger ecosystem of providers. These insights help enable automakers to create entirely new products while improving and upgrade existing ones through OTA updating. While these products enable rich services for drivers and passengers, or streamlines OEM operations, market traction will only follow if drivers can find these enhanced services and applications.

Defining a space that OEM suppliers and customers can come together to utilize a vibrant ecosystem of hardware, software, firmware, content, and service providers is the next critical step to realizing the commerce capabilities of the connected car. To do this, automakers need to have a branded marketplace that their drivers can access across their multitude of connected devices. Here, drivers can enable a personalized and secure account that provides them with the peace of mind and convenience that the content, updates and services they access come over-the-air from their automaker and its trusted third parties. This branded marketplace also offers automakers a centralized platform and developer portal for onboarding developers keen to bring the latest connected car and IoT apps and services to their vehicle.

AppCarousel and its partner Wind River will be showcasing their joint demo of enabling remote upgrades and commerce for the connected car across IVI at this year’s SAE Convergence in their big rig mobile technology showcase on the show flow at booth #531. Exhibits are open all day, and we will be showing demos the entire run of the show. To book a meeting or to see the demo please contact AppCarousel.

AppCarousel, a division of AppDirect, specializes in end-to-end app management and revenue generation platforms for the connected car and the Internet of Things.

What to learn more? Check out the AppCarousel Wind River SAE Flyer.

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Lueth, K. L. (2016). CEO at IoT Analytics. Analyst Breakfast, Future of Connected Cars,. Santa Clara.

Stjernqvist, P. (2016). Formerly Volvo Construction Equipment. Industrial IOT Panel Discussion, IOT World. Santa Clara.

Glynn, P. (2016). CEO at Davra Networks. Industrial IOT Panel Discussion, IOT World. Santa Clara.