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Service monetisation will transform the OEM-customer dynamic

If used correctly, digital service monetisation business models could meet every customer need before they even ask for a solution. By Will Girling

By 2030, McKinsey & Co forecasts that 95% of vehicles sold on the global market will have connected features. Connectivity means data, and with data comes opportunities to know more about customers and the services they might want. As such, vehicle data monetisation, which is valued at US$390m in 2024, could reach US$2.23bn by 2029 (+472%), according to Mordor Intelligence.

Special report: Monetising digital vehicle services

For Lance Owide, General Manager of B2B at open software-as-a-service e-commerce provider BigCommerce, this growth will be underpinned by two factors: revenue and automaker valuations. “Fundamentally, selling software has a much higher margin than cars—sometimes 90-95%. The more digital services an OEM sells, the higher its stock will climb.”

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