The Data Act is a landmark European legislative proposal that aims to unlock the potential of “industrial data” to foster competition and innovation. The goal is to make using, reusing and sharing data from connected devices and products easier, while ensuring fair and equitable data access to all parties.
Automotive manufacturers generate and collect massive volumes of data both from their plants and from the vehicles they manufacture. While sharing this data with third-party service providers and suppliers could be a game-changer for consumer services, what will the Data Act mean for automotive manufacturers? Will it be a smooth drive or a bumpy road ahead?
This paper explores the main provisions of the Data Act and how this proposed legislation will enable automotive manufacturers to build successful partnerships that broaden their services, generate new revenue streams, improve the customer experience and advance sustainability objectives. But only if they’re willing to take the necessary steps now to prepare for this new open data system.