Document says Google has data on 350 million buildings, with big companies lined up
Google GOOG 0.90%↑ is hoping to earn $100 million by licensing mapping data to renewable energy companies, according to CNBC. The company will sell access to APIs with solar and such energy information as air quality, according to a document that CNBC viewed.
The renewable energy companies would, in turn, integrate the mapping data into new products, CNBC said. The total revenue expected in its first year would range between $90 million and $100 million, according to CNBC.
CNBC said that while Google doesn’t reveal how much revenue its Maps business makes, it has been one of the company’s most “under-monetized products.”
It is not known whether the document came to light during this week’s Google Cloud Next ’23 conference, which was attended by dozens of location industry companies. However, the CNBC report said that there could be “a potential to connect with Google Cloud products down the line.”
The company has been consolidating resources lately. In June, Location Business News reported that Google was laying off employees at its map company Waze.
Last year, Google planned to merge its Geo staff with the Waze group. At that time, Google, which acquired Waze 10 years ago, said it was under pressure to reduce costs and be more productive by merging “overlapping product areas.”
In related Google Cloud news:
- Canoo GOEV 3.76%↑ has announced that it has selected Google Cloud as its primary cloud service provider. Canoo will deploy Google Cloud’s AI, data management, and security technologies to maximize the value of the data coming from its electric vehicles, the company said.
- Woolpert has earned the Application Development Specialization through the Google Cloud Partner Specialization Program. Woolpert also earned the Location-Based Services Partner Specialization in 2018.
- Geotab has been named a Google Cloud Customer Award Winner for 2023 Communications and Service Providers Industry. Geotab, which is the largest EV telematics provider, said it won because of its sustainable fleet solutions.
