Do automakers need a “wake-up call” on digital services?

A new and substantial source of revenue has emerged in the automotive industry: digital vehicle services. By providing various quality-of-life services to the driver, automakers can benefit from a lucrative source of recurring revenue. This can range from exclusive entertainment offerings via the infotainment system to features that directly impact driving. In 2023, Accenture estimated that digital services could generate as much as US$3.5tr for the industry globally by 2043.