IoT Start-up Tracker: Automotive Digital Services Growth Opportunities

IoT Start-up Tracker: Automotive Digital Services Growth Opportunities

Connected Cars as a Key Use Case for Internet of Things Driving Digital Services Opportunities

The revenue of automotive original equipment manufacturers still relies mainly on selling vehicles, and additional drive-centric business models must not affect its core competency. Frost & Sullivan’s start-up tracker helps ecosystem participants identify solution providers with offerings that address industry challenges.

The start-up tracker provides a rich database of start-up and niche players that can transform processes in automotive services and add value to the end user. These companies were selected based on the Frost & Sullivan Best Practices database, in addition to secondary research on worldwide automotive ecosystem mappings and rankings, such as the automotive services tech market map from CB Insights and Tracxn and other regional automotive services tech mapping and rankings.

We made a list of start-ups focused on Internet of Things (IoT) automotive services by region, including different segments: connected automotive supply chain, smart automotive manufacturing, connected cars, digital automotive retailing & vehicle relationship management, and mobility as a service.

Frost & Sullivan conducted detailed primary interviews with start-ups that stand out in different regions to generate a competitive profile and understand relevant developments, strategies, and value propositions. Each shortlisted company has been screened and analyzed by the analyst, with an overall score established for each start-up based on the criteria described in this study.

Key Features

The IoT space is still in flux and significantly overlaps with other industries, such as automotive, energy, and transportation. To accurately observe and measure IoT-related economic activity, Frost & Sullivan uses certain criteria to determine if a product, application, or service is to be considered part of the IoT industry. Specifically, a product, application, or service must be part of a larger solution and feature the following to be considered a component of the IoT:

Objects that are virtualized and imbued with data measurement capabilities
The ability to grant identities to physical and virtual objects
Interconnections between the objects in the solution for monitoring and interaction purposes
The ability to generate real-time insights from data and incorporate them into existing business processes