The automotive landscape is rapidly changing every year. The convergence of various technologies and industries with the automotive space is creating numerous opportunities in the market.
Digitization and connectivity are generating large volumes of usage data, which will enable new revenue streams such as data monetization in the automotive industry. The prices of electric vehicle batteries are constantly declining, which is making electric vehicle affordable, contributing to an increase in their sales.
Global automotive industry profits are forecasted to reach 79 billion Euro by 2020 with two biggest markets – China and the United States growing steadily for the past couple of year.
It is important for stakeholders in the automotive industry to be aware of the dynamically evolving trends and ways in which they can be monetized.