New Revenue Streams in the Automotive Industry
Most automotive manufacturers are exploring new revenue streams by augmenting the core business with innovative features and services. Subscriptions like news, weather, and traffic conditions are very common. And more advanced services like Spotify, Apple CarPlay, real-time traffic information (RTTI), or even a digital key, are sources of potential recurring revenue.
One challenge to success is gaining an understanding of all the services that can be offered and installed on proliferating car models with changing software/algorithm versions. Another is understanding customer behaviors, habits, and preferences.
This short whitepaper breaks down the opportunities, challenges, and analytics solutions that will help manufacturers build and cash in on new automotive revenue streams.