Emotion-based service provisioning for car occupants is one of the key disruptive future trends that are expected to change the way cars are used in the coming 3-6 years. Others include the connected car, which is primarily based on the upcoming 5G revolution, Artificial Intelligence (AI), the autonomous car and ride sharing.
This RFI seeks inventions on new emotion-based personalized services and application for the connected car that capitalize on the capabilities coming from future generations of communication technologies like 5G, that will enable the totally connected car.
The lifetime value of a customer with a carmaker is typically around a half-million dollars. Emotion-based service provisioning for car occupants is one of the key disruptive future trends that are expected to change the way cars are used in the coming 3-6 years. Motor-vehicle companies must offer emotion-based services to maintain or increase their piece of the customer’s lifetime value or risk losing this value to another company.
Ceding those capabilities to other companies such as Google or Microsoft will hurt the profitability of carmakers. This value comes from the sale of services and new vehicles. Software has become a critical part of new vehicles and growing larger, and these emotion-based services will be in the form of software. The software and data part of the car will be the personalized and the most valuable part; the car will become a commodity. This situation is similar to the smartphones of today.
Why it is Valuable:
A growing percent of car value is software, and connectivity drives a large part of software value. As time progresses, automobiles are becoming more connected, and these cars are replacing non-connected cars. Thus, software and especially connected software are becoming a significant portion of a car’s value. Accenture believes the total business value of connected car services will reach €100B by 2020, and €500B by 2025.
On a per-vehicle basis, a fully-fledged connected car, could deliver more than €5K in additional value over its lifetime. With the expansion of high-speed cellular networks, OEMs can bring more sophisticated software and services to the vehicle. From geo-fencing applications that tie digital services to real-time locations, to in-car infotainment systems, to predictive analytics and safety services, new innovations are driving the automotive industry to embrace the power of the Internet of Things (IoT).
This opportunity comes from the efforts of Xinova’s R&D Consulting and Innovation team.
Are you up for the challenge?
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