The dawn of car generated data is upon us. It is believed that within a couple of years, consumers will begin to expect car connectivity as a standard, just like GPS connectivity and satellite navigation is now a part of even the most modest of car models. Automotive OEMs will be seeing a lot of revenue generating opportunities with their customers using connected vehicles at electric charging stations and gas stations. Mobile carriers will also gain prominence and consumers will use applications like Moveco as naturally as Google Maps because of the valuable data it will provide along with the rewards it will give.
In this blog post, we will discuss the importance of car generated data for the consumers and car manufacturers and why automakers should develop deep relationships with Moveco for the future of mobility.
Decline in Smartphone Growth, Rise in IoT Revenue
It has been seen that over the last couple of years, phone revenues have been declining. There has been a drop in year-over year ales of mobile phones in the United States and Europe. You can blame market saturation and economic uncertainty for this decline, encouraging consumers to hold on to their existing phones for longer. The same is not true with non-phone connected devices. In fact, there seems to be a gradual and certain growth in Internet of Things (IoT) revenues. Consumers are looking at other ways to lead a smarter life, inviting technology in their everyday routines.
Monetisation of Connected Cars
As part of this disruption, we are seeing automotive makers working towards offering the consumers an integrated experience of mobile and car connectivity, data as well as entertainment services. This is all leading to the ultimate goal of enhancing the in-car user experience and safety of the driver and passengers. Autonomous cars are the next big avenue and monetisation of connected cars is the way to ensure the future of mobility is safe and pleasing for the consumer. Monetisation of cars not only provides the consumers with valuable information about their cars while at the same time insurance companies and car manufacturers get real-time data that helps them make informed decisions. It is a win-win situation, where all parties benefit from valuable data that can help improve the experience of autonomous cars on the road. According to Garter, there will be 250 million connected cars on the road by 2020. Car generated data will play a vital role in making this a reality.
Common Types of Data Cars Generate
There is a plethora of data that can be generated from cars. This can differ from brand to brand and from model to model as well. The extent to which data is available can differ from a car to a van and a truck to a bus. One thing common in all of them is that they can all generate valuable information that can help car manufacturers and consumers alike. Some of the basic type of data that cars can generate which ca improve the driving experience and comfort of the driver include but are not limited to:
· Mileage
· Oil Level
· Tyre Pressure
· Fuel Consumption
· Engine Status
· Vehicle Speed
· Battery Charge Status
· Outside Temperature
· Steering Angle
This vehicle-generated data does not include user information such as contact lists or data received from any external sources. The information gathered is extremely beneficial for the consumer as well as the car manufacturers working towards the future of mobility.
Where Does Moveco Fit In All This?
Moveco is the app for consumers who want to contribute to providing car generated data while at the same time earning MOV tokens that can be redeemed in a variety of ways. Your participation can be as simple as downloading the app and letting it run in your device’s background. However, if you want to make the most out of our technology, you can install our telematics devices such as the Drivebox Lite (or any other partnered OBD-II device) and integrate it with the Moveco app. You will be able to use it with our partners insurance companies at lower premiums. Moveco is also compatible with advanced hardware technologies such as Lidar technology, which is widely used in manufacturing of autonomous vehicles.
The Moveco app gathers your car generated data or general mobility data and rewards you for that with MOV tokens. Unlike other companies who scan your data without your consent, we keep things transparent and also reward you for your participation. We have already collaborated with some exciting companies to give you loyalty rewards, including Starbucks, Grab, Shell and Esso. The beta version of Moveco App is scheduled for launch very soon and we invite you to check our Whitepaper to get more information on the project and how you can benefit from it. Feel free to email us at team@moveco.io with all your queries on how sharing your car generated data with us will open a surplus of rewarding opportunities.
