siliconindia | | SEPTEMBER 20229T he Internet of Things has led to rapid transformational change in the automotive sector, and there is no doubt about that. The power struggle between automakers and software developers is a symptom of the on-going transformation, like birth pangs as the industry reinvents itself. IoT-related technologies will draw the map for the industry to follow, and the connected car will play a significant role on the roads and in the future economy.IoT is revolutionizing the whole automotive industry along with other disruptive technologies. Refinement in this field has gotten the pitch of exploring improvement in automobiles as far as connected and automated vehicles are concerned. Its utilization has fixed up vehicle review and maintenance abilities. It has provided automakers and customers all around the world with new alternatives. The IoT in the automobile sector has become a hotspot for numerous applications on both the industrial and commercial levels.`Automotive IoT' brings in different applications and solutions, ultimately fostering a secure, efficient, and comfy experience through more smart and intelligent vehicles. IoT automotive maintenance system also assists an individual with finding fundamental ways to control car parts from abrupt breakdown. Predictive analytics is one of the most incredible elements of IoT automotive. The sensors installed in various vehicle parts gather information and offer it to a platform.WHAT STUDY REVELS ABOUT USE OF IOT IN AUTOMOTIVE INDUSTRY?The study shows that the Automotive IoT market may reach $541.73 billion by 2025, at a CAGR of 16.4 percent from 2019 to 2025. The key factors driving the growth of the overall automotive IoT market are increasing demand for connected vehicles; government endeavours for smart cities & intelligent traffic management systems; expanding approvals & budget allocation for autonomous vehicle testing; increasing demand for infotainment and real-time vehicle tracking system; and adoption of road vehicle safety solutions.The global market for connected vehicles has secured remarkable growth in recent years. Major factors driving the need for connected cars include increasing demand for safer, efficient, and convenient driving experience and government initiatives to decrease the number of road accidents.The IoT car with many IoT properties inbuilt is designed to use data gathered by connected vehicles in many ways. Such as traffic control systems that can deliver real-time data collected from connected cars. This enables us to avoid traffic jams and accidents. These benefits offered by IoT in the automotive sector are driving the growth of the automotive IoT market. Similarly, automobile manufacturing companies, telecommunication service providers, and software companies are coming together to build a connected car. A connected vehicle using its on-board sensors and internet connectivity improves the in-car experience of its user. Connected vehicles can surf the internet on the move, but the communication between cars and communication of vehicles with other devices. Only a small number of cars are internet-enabled, but it is projected that the number will rise broadly in less than a decade. Again exposure to smartphones will help the connected cars market to grow exponentially.HOW AUTOMOTIVE COMPANIES ARE IMPROVING THEIR BUSINESS FROM IOT?Big companies like Mercedes-Benz, Volkswagen, Volvo, Toyota, and Google are increasingly investing in developing smart cars with rich features that deliver healthier, more convenient, and more enjoyable driving experiences. According to the report, 12 percent of the total vehicles sold in 2030 will be for autonomous taxi fleets, with 26 million driverless taxis in operation worldwide, approximately.Managing and analysing data collected by IoT devices will assist maximize its value for the firm. Data analytics help analyse IoT data in several areas, such as data accuracy in time series, predictive and advanced analytics, data preparation, geospatial, and location real-time. Major cloud vendors such as Amazon, Microsoft, and Google increasingly use data analytics for business improvement. Various companies hope to extend their market share with AI algorithms that exploit machine learning and deep learning- allowing businesses to IN FOCUSTHE IOT MAGIC IN MOBILITY
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