Here’s how (Andreas) Mai estimates the value of a connected car’s Big Data:
- The motorist can save $550 by enjoying better fuel economy, less time stuck in traffic, lower insurance rates, etc.
- Society can save $420 by employing car platoons to speed up traffic and increase a road’s capacity.
- Service providers can earn $150 by providing traffic guidance, navigation, parking, emergency services, etc.
- Automakers can save $300 in lower warranty costs, profitable apps, etc.
There are privacy issues, Mai acknowledged. The big question is whether motorists will allow automakers to use their vehicle data. However, Mai believes motorists will agree to share their data if they get a concrete benefit from it, such as lower insurance rates if they share data with their insurer.