We’ve just celebrated our second birthday the other day. Growing older is always the perfect occasion to reflect on what you’ve achieved so far and where the road leads to in the future. That’s exactly what we did last week & since we always emphasise on our openness, we’d like to share our thoughts with all of our stakeholders as well.
Let’s take a look back first to where it all started. In 2017 every consultant firm from A-Z was outbidding each other regarding how the mobility service business will flourish based on the future number of connected vehicles. Even the most conservative forecasts predicted that nearly 40% of the entire car park will be connected and send hundreds of gigabytes of data by 2019. The message was clear: If you don’t want to be left behind, now is the time to ramp up your connectivity business which will skyrocket & provide you with tremendous revenue in no time. When we started, we did not completely fell for this in the first place, but it pretty much describes the sentiment regarding connectivity back then. Founded by the key players of the market we took the challenge to establish an open and neutral marketplace where these data and services are harmonised and can be traded in a secure and trusted environment.
Two years down the road what we can tell for sure is that the future looks different. Establishing Caruso as a truly open and neutral platform it was necessary that we solely focus to provide the market participants with the right infrastructure, enabling them conducting their data & service-related business via our marketplace. In doing so we are highly dependent on the data & services available. As mentioned above, the big bet of the whole market was the increasing number of connected vehicles. The experience we are having, and we think that we have the best possible market insights by far shows that we are very far away from the proclaimed 40% – at the moment we assume that no more than 2-3% of the car park is currently delivering only very specific data points.
Because we have never reduced the potential of the mobility data and service market to pure in-vehicle data we gained a lot of insights into our two additional main data categories “vehicle information” and “process data” including RMI, pricing, parts & workshop information or services. These have proven to be very valuable, new services are emerging and there is a high potential for new B2B market standards. Furthermore, our marketplace itself, which we are continuously growing & developing since its Go-Live in November 2017, provides a huge benefit to our connected partners. For the first time, there is a place where the otherwise vague term “mobility ecosystem” becomes visible & tangible providing an overview of the whole market landscape demonstrating which data & services are available.
As you can tell by now our last two years were quite a trip and all the deep insights and market knowledge, we gained are priceless regarding our future development. What the whole industry needs to admit is that the transformation coming along connectivity is not a sure-fire success and happens overnight but demands additional work, commitment, and collaboration of all market participants both on the technology as well as the business side.
What next? We strongly believe that the mobility data & service market still has great potential. We feel encouraged with our holistic approach to include all data available on the market & are looking forward exploring further possibilities because we think that what we’ve discovered so far is just the tip of the iceberg. We are going to adapt as we constantly do. We are expanding our business models & strategy, strengthen our focus and adjust the speed regarding the current market situation. It turns out that the so-called “connectivity race” is not a sprint but a marathon. We are certain that with what we have achieved so far, with our great and dedicated team as well as our strong shareholders and partners we will have the stamina to outrun others facing the same challenges and fulfill our goal of decisively forming the connected mobility ecosystem – expect us.