Honda has launched a new business that sells data generated by smart vehicles providing data on about 3.7 million vehicles to commercial facilities and other clients.
Nikkei Asia reports that Honda has partnered with Tokyo location data startup Nightley to analyse drivers’ behaviour. The data is expected to be used in determining consumer demands, gauging the effectiveness of advertising and for planning openings of retail outlets.
“For the automotive industry competing in the electrification of vehicles, converting operating data into a revenue stream is the top priority,” Tomoki Hamano, principal business consultant at Nomura Research Institute told the financial site.
The news report quotes a study by New York business consultancy McKinsey & Co which predicted driving data will deliver annual incremental value of $400 billion to the car industry in 2030.