Scary facts (well, I found them scary):
One connected vehicle in 2020 could transmit 1.5tb of data a day. I don’t know why, but I remember when someone seriously talked about a terabyte and thinking that's more data than you would ever know what to do with it.
20 billion devices will be connected by 2020. You can you can expect an average of 50-60 engine control units in it. Sorry this is geek talk but I just find the numbers a bit nuts and this is just the start!
So, if you are a motor manufacturer, you must just be thinking, okay, the model is changing for ownership, so not only may I not sell cars, finance or service them I need to come up with something around all these services I can sell in and all this data pumping out of vehicles.
I always viewed a vehicle as a passport to freedom. Frankly if my first car had sensors on it I don't think I would have been allowed a licence, car or insurance ever again. That world is changing. Sorry kids, just go and learn how to hack your vehicle and you will be fine.
Also has anyone asked the question, who owns this data? I spoke to a few people and they said, well if I own the vehicle then I own the data and should make money from it.
Just look at how Google and Facebook have made money from our data. Data is the digital currency that everyone wants. Also with all this data being transmitted can you imagine how much it will cost to have your car connected to the internet? I read somewhere that the data generated in 30 seconds in an autonomous car will fill your iPhone.
Also all the manufacturers and suppliers will need to figure out how to prioritise this data in real time. Someone somewhere has to be the data collector and deem whether you can upload at home or if it is required in real time.
I honestly think as users (I am considering giving up the word driver) we will give up something to receive something. Services and data will be far bigger revenue earners for manufactures than the car hardware itself. Trust me, some manufacturers are worried and they don’t want to end up being kicked out of the market by tech companies or end up an analogue company in a technology world.
Imagine as a user I am heading to somewhere but don’t know if any parking is available. Cameras on cars don’t just help park, they will pick up on real time empty spots or pedestrian density in a particular area. Take the pedestrian data and suddenly you start impacting security, safety, around public spaces.
Police services and insurance companies would immediately be able to refocus efforts or costs. Person steals something from shop, person traced by every vehicle that person passes. The list is endless. Public spaces become digitalised like never before. An unnerving side effect of this is that your privacy in public places is potentially zero. Would you give up that data to be safer? Or would you worry about how that data is being used?
This got me thinking about the taxi market. All day, in most towns and cities on the planet, taxis could collect real-time data and have it sold on. Operators of these taxis could deliver personalised experiences on a local life or to fit your life. Could the mini cab driver, who now potentially doesn't have a job, change their revenue model to still ensure their vehicles drive revenue but without the risk and overheads?
I am going to have to to buy shares in a few companies so I can afford to kit my 1980 Mercedes with cameras and sensors galore…