Avis is acquiring the Israeli startup, is to convert the rental data into cash

(Reuters) – Avis Budget Group, Inc. has enlisted an israel-based startup to help you the car rental, fleet, cash, money, auto industry, and the players are looking to tap a potential $750 billion market for motor vehicle information.

In the united states. the car rental company, which owns Avis, Budget and Zipcar brands, and the use of a global fleet of more than 100,000 internet-connected vehicles, however, the cloud market is carried out by Tel Aviv on the basis of the Otonomo, the companies said on Wednesday.

Under the deal, which is Paid and can sell the data collected by the cars of the more than 100 companies connected to the Otonomo platform. Vehicle will be provided all the necessary information, including information regarding the location of the tire pressure, and wiper blades, Otonomo he said.

They did not disclose the financial terms of the deal.

“Enhanced information are at this level and has the potential to change the future of mobility looks like, and it will open the door for the purpose of sharing the information with the new partner, Arthur Orduna, Avis’ chief operating officer, said in an e-mail to Reuters.

Consulting firm McKinsey & Co. projects that are in the market for a sheet of the vehicle where it can swell for up to $750 billion globally in 2030 at the same time. The insurers will want to know how fast people are driving, and no matter how hard they are to put on the brakes. Retailers will want to see what routes people are taking, so that they will be able to decide where to place a new store or location of billboards.

Otonomo, said J. D. Power’s vehicle dependability ranking, the company has already made the decision to buy a Vehicle data, to fill in the questionnaires. Because the Vehicle fleet over a number of brands and is updated periodically with the latest models of, it will help to ensure a broad take a look at the vehicle’s reliability, Otonomo he said.

The traditional auto industry, companies are scrambling to reinvent themselves as start-ups such as Uber Technologies Inc and Lyft Inc. have ushered in a new type of data-driven, on-demand mobility. Tech companies, Alphabet, Inc., Apple Inc. will also disrupt the flow of the industry and are designing in the direction of self-driving cars.

The efficiency of a market depends on the scale of the Otonomo isn’t the only startup looking to sign in the car business. Its rivals include Britain-based Wejo, backed up by General Motors Co., and Silicon Valley-based Smartcar.

Otonomo claims to be the leader of 18 million vehicles will be connected to the top of the platform, on which it has been said that it is 50% more than its nearest competitor. The number will grow to more than 20 million by the end of the year, it said.

(This story corrects to remove erroneous reference to the Otonomo will be supported by the manufacturer, in the last paragraph below)

Report by Kevin Buckland in Tokyo; Editing by David Dolan and Christopher Cushing

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