5GMETA: Monetizing Car Data (White Paper)
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Description
The European automotive industry is experiencing a shift towards digital services and shared mobility, influenced by trends like electric vehicles and 5G/6G connectivity. The connected, cooperative and automated mobility (CCAM) market, with expected growth in connected vehicles and Vehicle-to-Everything (V2X) technology, has great potential in data-driven business models, supported by big data analytics. However, despite the rapid advancements in technology and the increasing availability of valuable data, most players in the CCAM sector have yet to fully capitalise on the opportunity to monetise the vast amounts of data generated by vehicles. This represents a major oversight, particularly when compared to the strategies employed by companies in other sectors that are successfully leveraging data as a key revenue stream. These forward-thinking businesses, including both emerging disruptors and established tech giants, have been quick to harness the potential of data-driven models to create substantial value.
In fact, companies across various traditional industries are now starting to follow suit. They are shifting away from purely hardware-focused offerings and embracing new, data-centric business models, such as software-as-a-service (SaaS) and subscription-based services. This transition reflects a broader trend toward digital transformation, where the focus is increasingly on creating ongoing customer relationships through recurring revenue streams rather than one-time product sales. For CCAM companies, tapping into this wealth of vehicle data could unlock new avenues for growth, enhance customer experiences, and create more sustainable business models in the long run.
To support companies looking to explore opportunities in this area, this white paper presents the key outcomes from the 5GMETA project, co-funded by the European Commission through the Horizon 2020 research and innovation programme (grant agreement No. 875131). The white paper describes the 5GMETA platform, which integrates the necessary tools to collect, curate, share, and monetize CCAM data. The platform fosters a data monetization ecosystem, enabling various stakeholders across the data value chain to more effectively and profitably leverage CCAM data. We explore the data monetization framework identified in the project and examine possibilities for the associated business models. Additionally, we explain how to use the platform, and the extensions required for the current business to-business (B2B) platform. Finally, the white paper highlights the lessons learned from the project, offering practical recommendations for stakeholders to increase the chances of success of a CCAM data monetization ecosystem.
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5GMETA_White-Paper_Monetizing-Car-Data.pdf
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(1.1 MB)
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