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Insight of the Day: In-vehicle consumer services are reshaping the industry

In-Vehicle Consumer Services Are Reshaping the Industry: Key Takeaways

  1. Shift in Consumer Preferences: Consumers are increasingly willing to pay for in-vehicle services that add value to their driving experience rather than features already integrated into the hardware.

  2. Subscription-Based Model: The automotive industry is moving towards a subscription-based model for certain features and services.

  3. Software-Defined Vehicles (SDVs) and Over-the-Air Updates: SDVs offer a major advantage with over-the-air updates, eliminating the need for traditional recalls.

  4. Importance of Education and Marketing: Educating customers about available in-vehicle services and their benefits is crucial for adoption and renewal.

  5. Future of SDVs: By 2030, 95% of newly sold cars are projected to be SDVs, presenting both challenges and opportunities for OEMs.

  6. Challenges for OEMs:

  • Identifying value-added services that customers are willing to pay for.

  • Building features that enhance the user experience and avoid duplication with smartphone apps.

  • Educating customers about the availability and benefits of in-vehicle services.

Overall, the in-vehicle consumer services market is rapidly evolving. OEMs need to adapt to changing consumer preferences, focus on value-added services, and effectively communicate the benefits of these services to drivers.

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