We are living in the era of smart devices that are pushing the boundaries of tech-based innovation. Days have arrived to embrace the potential of IoT in the shape of connected cars. IoT in automotive industry is stepping up and contributing to greater expansion of possibilities.
IoT in automotive industry and AI adoption will have a favourable influence on 57% of the supply chain sector, according to this IBM automotive analysis.
On a constant basis, automotive businesses are seizing numerous opportunities by adopting automotive IoT solutions. According to estimates, the total number of connected devices is to reach 41 billion by 2027. IoT technology has enabled the automobile sector to achieve a major breakthrough.
In this article, we'll discuss how the Internet of Things (IoT) is changing the automotive sector and the process of building vehicles.
Introduction of IoT in Automotive Industry
With the advent of IoT brings a transformative shift to the automotive industry. Few major innovations that come with the integration of IoT in automotive industry are connected cars, equipped with sensors and connectivity features, and enhanced driving experience. This convergence of automotive and digital transformation is paving the way for a new era of intelligent vehicles.
Automotive IoT solutions such as IoT-formed vehicles offer an array of benefits including enhanced safety, improved efficiency, and personalised experiences. Through its extensive features it helps the environment in bringing sustainability.
Besides, integration of IoT in automotive industry has unlocked a multitude of possibilities. From advanced driver assistance systems and real-time traffic updates to remote diagnostics and personalised in-car experiences, IoT technology is revolutionising every aspect of the automotive ecosystem. With every passing day, cars are becoming more intelligent, adaptive, and capable of providing a seamless and tailored driving experience.
Role of IoT in Automotive Industry for Connected Cars
In 2021, there were approximately 237 million connected cars in operation worldwide. This number is expected to increase to around 400 million by 2025. Despite disruptions in the global supply chain caused by the pandemic, the connected car market remained strong. Around 90% of the connected cars sold in 2021 were equipped with 4G connectivity. As a result, the global IoT automotive market is projected to reach approximately $191 billion by 2028, compared to $59.70 billion in 2021.
According to Neil Shah, a Partner and Research Director at Counterpoint Research, it is predicted that four out of every five cars will have 5G capability by 2025. This was shared at the "Connected & Autonomous Vehicle Summit, 2021."
Benefits of IoT in Vehicles
IoT is changing the automotive industry in unimaginary ways. IoT in vehicle manufacturing and transforming the driving experience is the core of innovation. IoT-powered connected cars are worth embracing due to its advanced features, and functionalities that add value to the customer's driving experience.
- Improved Customer-Oriented Manufacturing: IoT technology enables unique car construction practices, implementing the best features and capabilities to enhance customer satisfaction, increase sales, offer personalised services, and provide instant updates. It also facilitates efficient inventory management for seamless production flow.
- Smart Infrastructure: IoT contributes to improved road systems, reduced traffic congestion, coordinated aid, and optimised infrastructure management, leading to smoother and more efficient transportation networks.
- Predictive Maintenance: IoT enables continuous tracking of vehicle conditions through data monitoring. By analysing collected insights, maintenance needs can be identified in advance, allowing timely repairs and reducing potential breakdowns.
- Connected Vehicles: IoT technology facilitates connectivity among vehicles using Dedicated Short-Range Communication (DSRC), enabling real-time sharing of location, route, and speed data. This connectivity helps prevent accidents and collisions by promoting informed driving decisions.
- Driver's Safety: IoT-connected sensors enhance driver safety by monitoring driving habits and overall vehicle conditions. This capability reduces the risk of accidents and aids in identifying potential dangers. IoT also helps in preventing driver fatigue by providing timely alerts.
- Unique Driving Experience: IoT connectivity allows smartphones to seamlessly integrate with vehicles, offering unique functionality and control. For instance, apps like the Tesla app enable users to remotely track their vehicle's location, control various features, and enjoy entertainment options such as streaming music and videos.
- Environmental Benefits: IoT integration in vehicles promotes efficient energy and fuel consumption, leading to reduced emissions and optimised energy resources. It also encourages the use of private transport, making it more convenient and faster, thereby reducing the overall number of vehicles on the road.
Concluding Lines on IoT in Automotive Industry
In conclusion, the integration of IoT technology in the automotive industry has brought about a significant transformation, particularly in the realm of connected cars. With the rapid growth of connected vehicles and advancements in connectivity, the automotive industry is experiencing a paradigm shift.
IoT enables seamless vehicle connectivity, enhances safety and security, enables predictive maintenance, offers personalised infotainment experiences, optimises traffic management, revolutionises insurance and telematics, and facilitates efficient fleet management.
The global IoT automotive market is projected to witness substantial growth in the coming years, with increasing numbers of connected cars and the emergence of 5G connectivity. The future holds tremendous potential for IoT in the automotive industry, paving the way for smarter, safer, and more connected driving experiences.
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Let’s consider some tips that may become useful for any company that one day will desire to benefit by entering the fascinating and promising world of IoT: Don’t Try to Bite Off More Than You Can ChewDetermine What Goals IoT Will Help You AchieveConsider IoT Devices as One of Your Most Valuable AssetsRemember That It’s All About DataThere’s No Such Thing As Too Much TestingPlease read the article Five Tips For Making IoT Scalability Issues As Easy As Pie to Handle to know more.
