The digitalization of the automotive industry has gained unprecedented momentum. Automakers are now implementing IoT solutions and opening up new opportunities for buyers. Such implementation takes place both at the technical level and at the business level, forming a new modern platform. And this is not surprising, because the opportunities that open up for the automotive industry are really impressive.
IoT in the auto industry: Great changes
The Internet of Things (IoT) is reshaping many industries, including automobiles. IoT technology assists the automobile sector in developing creative and cutting-edge solutions. Connected automobile solutions, Advanced Driver-Assistance Systems (ADAS), in-vehicle infotainment systems, navigation and telematics solutions, and so on.
In addition, IoT solutions have ensured the efficiency of processes throughout the automotive industry. Both the auto industry and related industries cannot ignore this significant contribution of the IoT.
“The enterprise and automotive IoT platform market will offer an $11.3 billion opportunity in 2025, increasing at a 33 percent CAGR from 2020,” according to Gartner’s Forecast Analysis. Manufacturing and natural resources, transportation, and building automation will be the leading revenue sectors by the end of the projected period.”
IoT in the auto industry: New Solutions
Of course, along with the growth of technology and the presence of IoT in many areas of car production and use, the vision of the automotive industry as a whole is changing. As well as maintenance of such cars, use of Wi-Fi, cellular networks 3G / 4G / 5G and Car2Car connection.
And there are many scenarios for using IoT, and each of them can significantly change the way the driver interacts with his car. So let’s look at some interesting examples of the use of IoT in cars:
Fleet Administration
The use of IoT in the vehicle sector has resulted in considerable advances in fleet management. Manufacturers now equip trucks with a variety of sensors, including weight scales and vehicle tracking. The following are some of the advantages of fleet management:
- Fleet position tracking in real-time;
- Monitoring road traffic conditions;
- Route administration;
- Driver and time management.
Connected Cars
IoT allows bidirectional communication with connected autos. It features an internet connection for fast data transmission with other devices inside and outside the vehicle. Through enhanced vehicle communication, this technology also improves driver response time.
Vehicle Upkeep System
With the assistance of this maintenance system, a person may take the necessary precautions to prevent automotive parts from breaking down suddenly. The drivers can get system notifications on their phones well in advance of the problem occurring. This assists the driver in avoiding component failure while on the road.
What are the uses of this technology in the automotive industry?
IoT devices are currently transforming our daily lives. Vehicles equipped with IoT provide consumers with performance parameters. Some components, such as air conditioning, are also programmable. With a few clicks, they may also calculate physical health indicators.
Here are a few examples of Internet of Things (IoT) applications in the automobile industry:
Vehicle Telematics in Real-Time
A real-time vehicle tracking system provides a comprehensive security solution. This technology assists in determining the position of a vehicle utilizing various ways such as GPS. Other navigation systems, both satellite and ground-based, are also used.
The tracking system is installed inside the vehicle. Furthermore, it gives accurate real-time location and data. This information can be saved on a computer and utilized for future study.
Cellular Vehicle to Everything (CV2X)
This technology connects individual automobiles by enabling cooperative intelligent transportation networks. This contributes to less traffic and pollution. This vehicle solution can alter data and safety services to improve travel. CV2X is designed to provide services such as LTE networks to enable effective communication.
Predictive Maintenance Using IoT
This technological solution assists individuals by continuously monitoring the health and performance of automotive assets. IoT devices may collect data from various assets and systems, allowing businesses to take innovative measures for each occurrence. Events such as part replacement or equipment failure can be predicted. As a result, predictive maintenance is typically conducted while the equipment is running normally. Finally, it aids in the prevention of business interruption.
For example, Verizon Connect. Verizon Connect provides data connectivity and analysis that enables its customers to better communicate vehicle and crew locations, efficiency, safety, performance, and compliance.
Automobile manufacturers have both challenges and possibilities
The following are some of the various problems that manufacturers must comprehend and consider in the automobile industry:
Excess Manufacturing and Related Costs
Overcapacity is the primary issue confronting the car industry today. As a result of shifting supply chain management circumstances, corporations have begun to invest substantially in creating cars that may or may not need to be built.
However, by the time the manufacturer recognizes this, sufficient funds will have been depleted for a variety of reasons. such as labor, production, raw materials, and so on.
The Implications of Connected Technologies
Connected technologies are also one of the most significant difficulties confronting the automobile industry. Digitization is becoming the standard in new cars due to data-driven technologies in the autos business. This technology has difficulty storing and sending massive amounts of data.
The Self-Propelled Evolution
Self-driving technology has emerged as one of the most significant issues in the automobile industry. While the world has welcomed technology with open arms, it still has a long way to go before becoming commonplace. As a result, several organizations have already begun to deploy their technologies.
Sustainability
Vehicle emissions are becoming a serious concern for the worldwide automobile sector. However, due to the use of gasoline-powered automobiles, air quality is deteriorating on a daily basis. When regulatory authorities implement an emissions cap, they expect producers to comply with it carefully.
Retaining a competent workforce
The major difficulty that the car industry is now experiencing is acquiring talent. Demand for innovative technology has risen in response to growing customer interest in digitalization and a more customized experience. Appropriate professionals are required to comprehend, create, implement, and maintain these technologies.
Finally, the Internet of Things is revolutionizing and reshaping the automotive business. The advancement of this sector has resulted in earth-shattering advancements in automobiles in terms of networked and robotized cars. As a result of asset monitoring systems powered by IoT technology, companies may check the health of vehicles at predetermined intervals.
