Connectivity is causing a shift in business models from products to services, with data being the key asset affecting this change. As such, the transport industry is experiencing a seismic shift in technology, regulation and user behavior, which will force all key actors to reassess their business models.
Connectivity has already started to make an impact in the world of transport. The first phase focused on transactional connectivity, where data would be sent in the case of a traffic incident. Now, the focus of the second phase is on being connected, including sending and receiving data, and the ability to share it between companies and industries.
The technology is in place to build more efficient, convenient and safer transport solutions based on passenger vehicle-centric ecosystems. But there will be challenges to overcome, in terms of cooperating with new partners from different industries, gaining user trust, ensuring quality, reliability and security of data and controlling its flow in a highly shared environment. This paper takes a closer look at these challenges, and what will be required to move past them.