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Car manufacturers need to catch up when it comes to connected services
A study by the Capgemini Research Institute shows that not all car manufacturers are up to date when it comes to connected services. This is a $640 billion market.
Car manufacturers need to catch up when it comes to connected services
The study “Next Destination: Software – How Automotive OEMs can use the Potential of Software-Driven Transformation” shows that half of OEMs (51 percent) expect to be perceived as successful in delivering software functions in the next five to ten years. These include Advanced Driver Assistance Systems (ADAS), as well as autonomous driving, connectivity and other services. In addition to their leading position in automobile manufacturing, these aspects are becoming the central competitive factor. Additionally, the proportion of vehicles per OEM operating on a unified, common software platform is expected to increase on average from seven percent in 2021 to 35 percent in 2031.
However, according to the study, the level of maturity remains low in key areas. Most OEMs (71 percent) are in the early stages of their software-driven transformation and have only identified application areas to date. Only 28 percent have implemented a pilot or proof of concept based on use cases to drive transformation in specific areas, but Chinese manufacturers are already at 63 percent. The study shows that only 15 percent of OEMs are considered “frontrunners” in successful transformation, as only they demonstrate the necessary level of maturity to implement a software-driven transformation. Success requires special skills, but also specific goals and mastery of technological trends. The pioneering OEMs expect that software revenue will account for 28 percent of their total revenue by 2031.
By differentiating themselves with unique software-based features and services, leading automotive manufacturers (OEMs) will capture 9 percent more market share than their competitors. The software-driven transformation will also enable them to realize productivity increases of up to 40 percent, cost reductions of 37 percent and customer satisfaction improvements of 23 percent over the next five years. Despite all these advantages, around half (45 percent) of OEMs do not currently offer connected services, and only 13 percent monetize these services themselves. This emerges from the current study by the Capgemini Research Institute, for which 572 executives from automobile manufacturers worldwide were surveyed.