The Automotive Aftermarket is part of the Automotive industry and comprises of vehicle maintenance, repair and spare part business. Aftermarket is split between OEM network and Independent Aftermarket players. OEMs have the major Aftermarket share for new cars and their share drastically decreases in the older vehicles.
The Aftermarket industry, with a global TAM of $760bn, as a whole is affected by disruptions caused by CAME (Connectivity, Autonomous, Mobility and Electrification) and OEMs/Dealerships aggressively expanding the Aftermarket activities. This is causing signification impact on the top line of the independent Aftermarket players.
There is a big opportunity for Independent Aftermarket players to leverage the Vehicle Connectivity to “loyalize” their customers and automate decision making related to service and repair. Today, however the general perspective is that most Independent Aftermarket players are not adequately prepared to take advantage of the connected car big data opportunity as running the connected car platform is CAPEX/OPEX intensive and requires advance analytics capabilities.
Since 2016, almost all cars in the US have factory fitted embedded connectivity, which enables to capture telematics, car health/diagnostics and driver behaviour data directly from the connected car and CerebrumX, through its global OEMs partnerships has access to this data. CerebrumX further provides advanced analytics on OEM provided connected car data for several game changing opportunities for After Market Players to increase their revenue with existing/new customers and/or make their operations more efficient:
- Deeper Customer Insights
- Operational Excellence
- Response Recommendation and Readiness
- Predictive Maintenance and advanced prognosis
- FNOL – First Notice of Loss
CerebrumX offers its platform as a SAAS, which can seamlessly integrate with After Market Players existing vehicle service and repair platform to “loyalize” their customers and automate decision making related to service and repair. Our business model is transaction based without any upfront investments and running expenses for After Market players to capture the connected car data.