Monetizing Connected Vehicles with In-Vehicle Commerce

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By Maite Bezerra | 2Q 2021 | IN-6148

 

Profiting from Connected Vehicles

NEWS


Today, vehicle connectivity is nearly imperative for carmakers, but they have not yet developed a sustainable business case for it. They often bundle three months to three years of connected services with the vehicle's price at the moment of purchase, but only a few car owners see value in renewing their subscriptions after the free trial period, opting to use smartphone projection. Instead of continuously extending the free trial periods, OEMs could monetize their connected vehicle installed based via in-vehicle payments enabled on the vehicle’s Human-Machine Interface (HMI). According to ABI's report Automotive In-Vehicle Advertising and Commerce, this strategy could lead to US$3.94 billion in revenue to OEMs by 2026.

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In-Vehicle Commerce Platforms