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Technology

Honda joins $400bn gold rush to monetize smart car data

Automakers eager to turn big data into valuable info for businesses

Honda holds driving data on about 3.7 million vehicles.   © Reuters

TOKYO -- Honda Motor has launched a new business that sells data generated by smart vehicles, joining a crush of rivals in a new industry destined to be worth as much as $400 billion a year.

So-called connected cars are equipped with cameras, lasers and electrical control units that turn the vehicles into moving sensors. A whole range of data can be collected, from driving distances and speeds all the way to the entertainment content played by the vehicle occupants.

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