Automotive telematics, an industry still in its infancy, has many questions facing its future, including how automakers can monetize the cutting-edge technology and who will seize control of the emerging field, according to WardsAuto.
How to turn a profit with telematics technology such as in-vehicle infotainment systems was a key topic of discussion during the recent Telematics Detroit 2013 conference here. Auto makers currently charge customers an upfront fee for the technology, but there is potential to turn infotainment systems into an ongoing revenue stream, the news source reported.
Experts warn monetization is a slippery slope, as many of the strategies being considered potentially could fray relationships between auto makers and customers, as reported by WardsAuto.
David Miller, chief security officer-Covisint, says auto makers, telecommunication firms and other companies looking to cash in on telematics are considering selling consumer data collected by the vehicle systems to third-party entities, according to WardsAuto.
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