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DIGITAL CAR MARKET – Saudi Arabia
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Digita’l’ize and capture new demand
Saudi Arabian markets is already digitized. Smart phone users are projected to grow to almost 20 million. In 2018, about 60 percent of the population in Saudi Arabia accessed the internet from their mobile device. This figure is expected to grow to 62 percent in 2023.
Statista Digital Market Outlook Connected Car Market Segment 2019
| Annual Growth Rate CGAR2019-2023 Leading to US$138M | Connected Hardware Growth: +22.8% YoY ARPU: US$128.60 |
| Vehicle Services Growth: 30% YoY ARPU: US$29.65 | Infotainment Services Growth: 50% YoY ARPU: US$74.91 |
What it means?
- Opportunity to create uncontested market space
- Make the competition irrelevant
- Create and capture new demand
- Break the value-cost trade-off
- Align the whole system of a firm’s activities
- in pursuit of differentiation, low cost and digital
Key Market Segments
- Basic Telematics, Geo-localization, Remote access, SIM based
- eCall, Vehicle Services, Breakdown management services
- Map updates, real-time traffic, area information over internet
DIGITAL ECO SYSTEM
| Connected Hardware Fleet Management Vehicle Monitoring Driving Behavior | Infotainment Car Sales Insurance Sales Rentals |
| Vehicle Services Roadside assistance Servicing & Repairs eCall | Others Point Of Sale – Offline tracking |
The Magic Number!
The addition of Saudi women into the car market promises to be a profitable change, fueled by the Crown Prince’s Vision 2030 goals that aim to diversify the economy, lessening Saudi Arabia’s economic dependence on oil.
(in 1000)
| Makkah | Riyad | Eastern Provinces | Maddina |
| 800 | 730 | 430 | 200 |
How will change happen?
Existing leaders would need to Horizontalize their businesses, pulverize their services, connect to consumers via API economy and will need to focus on customer experience enhancement.
How can we help?
bCubex can help with this transformation, continuous innovation and help your business to improve your customer experience and digitalize existing business process. We provide the technology muscles needed for such transformation. From CTO services right down to the engineering strengths needed for Digita’l’ization.
