Automobile Industry is by far the biggest manufacturing sector in world with an estimated turnover of around 75 million units. It was also interpretative that the total turnover was an astonishing 3+ trillion dollars as of 2017 data. This, coming around as 3.7% of the combined global GDP. In this post, we would thus, be talking about IoT in Automobile Industry.
The global total unit sales has been somewhat stagnant since the last 4-5 years at around 70 to 80 million units. A reason for this can be the lack of innovative features in vehicles. Purchases generally look for vehicles having four tyres and above and a steering wheel in a car nowadays. People are seeking futuristic vehicles with which they can connect, communicate and have other interactions. Thus, IoT has come as a disruptive technology helping automobile sector build a collection of next-gen vehicles or the futuristic vehicles.
With the emergence of IoT usage in the automotive industry many new avenues for buyers and carmakers alike has opened across the world. The Internet of Things in the automobile industry has become a significant hotspot for variegated multi-faceted applications. Nowadays, we can find From connected cars to automated transport systems due to the application of IoT.
Internet of Things — What it is?
IoT stands for “Internet of Things”. It points to the vast number of stand-alone or physical devices. That are connected and exchange data with other devices over the internet.
It gives the power of the internet connectivity, data processing, and analytics to the real world of physical objects. For users, it leads to communication with the information network worldwide. This also without the use of a intervening keyboard and screen.
It thus, implies that many of daily objects can take instructions from that network with the least human assistance or intervention.
Applications of IoT in Automotive Industries
There has been a magnificent magnitude of development in cavalcade/fleet management. Nowadays, trucks nowadays are fitted with weight measuring instruments. And also with GPS trackers and various other sensors. All these data is stored in cloud. Now, this data is analysed and then, conceptualized into a visual format. Cavalcade managers can then easily and simply go through this data. To monitor and control different parameters of the fleet.
The various benefits of this are:
- Instant location monitoring and control
- Volume records of cargo
- Performance statistics of the vehicles
- Traffic conditions tracking and management
Integrated and Connected Cars
This idea is not very new. Cars are integrated over an IoT network (cellular vehicle to everything). This integrates vehicles and smart vehicular systems together.
Integrated/connected cars help in speedy transmission of data. Thus, increase driver’s’ reaction time due to enhanced vehicular intercommunication.
Automobile Management System — another Application of IoT in Automobile Industry
Predictive analytics is one of the most startling features of IoT automotive. The sensors embedded in different components of a car collect data. And then share it to a platform. This data is then process by an algorithm. To further analyze the future outcomes of the component based on performance.
These capabilities of predictive maintenance help an individual vehicle as well as fleet. It is thus, really useful for load-carrying vehicles. By using the automotive maintenance system, anyone can track the performance of vehicles.
Autonomous vehicles are the most trending subject in automotive industry these days. Several car makers are keen on developing a fully autonomous car. That should assume all driving duties of the driver. Even though improvements have been made in this field, a fully autonomous vehicle is still a bit faraway.
Semi-autonomous vehicles are present there in the market. These generally partially assist drivers while driving, parking, and lane changing activities.
In-vehicle Infotainment, Edutainment and Computerization
In-car Wi-Fi Capabilities have enabled various computerization features. By using vehicular telematics a car owner can thus, keep a bird-eye view on his/her vehicles.
Through a smartphone-enable dashboard, car owners can be ensure about its security, surveillance, and safety at all times.
External sensors and cameras keep a track of the vehicles’ condition and send the data to a mobile application. The smart car enabled with IoT also calls concerned authorities immediately like ambulance or firefighters in case of an emergency.
Wi-Fi capabilities have also given rise to smart infotainment systems. The owners can connect different equipment like music system and GPS in car with their smartphone and operate them distantly.
Voice command accessibility allows a person to play his favorite music, stream a video, attend calls without even doing anything. The GPS, GLONASS and GNSS systems in the infotainment systems also offers onboard navigation.. It also gives comprehensive information about nearby petrol pumps, restaurants, and other points of interests.
!!!! MOVING ON !!!!
— IoT in Automobile Industry —
We all know that we are now progressing to an age of services and experiences from an age of commodities. That is from hardwares to softwares, from operationalization to data as the key thing in value creation. Also, from industry silos to intricately fabricated ecosystems and value functions.
Thus, it is no surprise that carmakers are moving into an unfamiliar new terrain within an ever-enlarging ecosystem of competitors. All of them trying their hand at gaining value thereby, steadily gaining ground. It is to mention that as the automakers find their feet in their ever-changing landscape, the pathway ahead for this industry is clear, open and filled with ample opportunity. Though, it is now the right and most appropriate time to shift into top gear.
Hope you liked this post and gained good knowledge of the subject matter. If you have any queries feel free to ask in the comment section. I am ever-ready to take your questions and answer them to the best of my ability.
Until we meet again, I bid you Ta-Ta !!!