Books and journals Case studies Expert Briefings Open Access
Advanced search

Value in vehicles: economic assessment of automotive data

Alexander M. Soley (Department of Mechanical Engineering, Massachusetts Institute of Technology, Cambridge, Massachusetts, USA)
Joshua E. Siegel (Department of Mechanical Engineering, Massachusetts Institute of Technology, Cambridge, Massachusetts, USA)
Dajiang Suo (Department of Mechanical Engineering, Massachusetts Institute of Technology, Cambridge, Massachusetts, USA)
Sanjay E. Sarma (Department of Mechanical Engineering, Massachusetts Institute of Technology, Cambridge, Massachusetts, USA)

Digital Policy, Regulation and Governance

ISSN: 2398-5038

Publication date: 10 September 2018

Abstract

Purpose

The purpose of this paper is to develop a model to estimate the value of information generated by and stored within vehicles to help people, businesses and researchers.

Design/methodology/approach

The authors provide a taxonomy for data within connected vehicles, as well as for actors that value such data. The authors create a monetary value model for different data generation scenarios from the perspective of multiple actors.

Findings

Actors value data differently depending on whether the information is kept within the vehicle or on peripheral devices. The model shows the US connected vehicle data market is worth between US$11.6bn and US$92.6bn.

Research limitations/implications

This model estimates the value of vehicle data, but a lack of academic references for individual inputs makes finding reliable inputs difficult. The model performance is limited by the accuracy of the authors’ assumptions.

Practical implications

The proposed model demonstrates that connected vehicle data has higher value than people and companies are aware of, and therefore we must secure these data and establish comprehensive rules pertaining to data ownership and stewardship.

Social implications

Estimating the value of data of vehicle data will help companies understand the importance of responsible data stewardship, as well as drive individuals to become more responsible digital citizens.

Originality/value

This is the first paper to propose a model for computing the monetary value of connected vehicle data, as well as the first paper to provide an estimate of this value.

Keywords

  • Value of data
  • Connected vehicles
  • Data sales
  • Intelligent transportation systems
  • Personally identifiable information

Acknowledgements

The authors thank Thomas Schnitzer of Swiss Re for providing background information pertaining to the insurance industry’s view of connected vehicle data.

Citation

Soley, A.M., Siegel, J.E., Suo, D. and Sarma, S.E. (2018), "Value in vehicles: economic assessment of automotive data", Digital Policy, Regulation and Governance, Vol. 20 No. 6, pp. 513-527. https://doi.org/10.1108/DPRG-05-2018-0025

Download as .RIS

Publisher

:

Emerald Publishing Limited

Copyright © 2018, Emerald Publishing Limited

Please note you do not have access to teaching notes

You may be able to access teaching notes by logging in via Shibboleth, Open Athens or with your Emerald account.
Login
If you think you should have access to this content, click the button to contact our support team.
Contact us

To read the full version of this content please select one of the options below

You may be able to access this content by logging in via Shibboleth, Open Athens or with your Emerald account.
Login
To rent this content from Deepdyve, please click the button.
Rent from Deepdyve
If you think you should have access to this content, click the button to contact our support team.
Contact us
Emerald Publishing
  • Opens in new window
  • Opens in new window
  • Opens in new window
  • Opens in new window
© 2021 Emerald Publishing Limited

Services

  • Authors Opens in new window
  • Editors Opens in new window
  • Librarians Opens in new window
  • Researchers Opens in new window
  • Reviewers Opens in new window

About

  • About Emerald Opens in new window
  • Working for Emerald Opens in new window
  • Contact us Opens in new window
  • Publication sitemap

Policies and information

  • Privacy notice
  • Site policies
  • Modern Slavery Act Opens in new window
  • Chair of Trustees governance statement Opens in new window
  • COVID-19 policy Opens in new window
Manage cookies

We’re listening — tell us what you think

  • Something didn’t work…

    Report bugs here

  • All feedback is valuable

    Please share your general feedback

  • Member of Emerald Engage?

    You can join in the discussion by joining the community or logging in here.
    You can also find out more about Emerald Engage.

Join us on our journey

  • Platform update page

    Visit emeraldpublishing.com/platformupdate to discover the latest news and updates

  • Questions & More Information

    Answers to the most commonly asked questions here