DECEMBER 201919· Autonomous vehicles· Real time monitoring · Preventive maintenance alerts and notifications But as they say `It's easier said than done' - there are many impedi-ments for the successful imple-mentation and adoption of IoT in the Auto industry: · Interoperability - Seamless in-tegration of IoT devices with the traditional ERPs and legacy ap-plications has been one of the biggest challenge· No single player or consortium governing the regulatory policy for this domain - most organiza-tion have acknowledged this as a potential risk · Inadequate infrastructure - High availability and zero downtime en-vironment, Uninterrupted data connectivity and speed etc· Lack of skilled resources with do-main expertise· Higher cost of IoT sensors, con-nectivity and maintenance · Complex ecosystem · Ubiquity ­ Multiple sockets, appli-cations, devices etcWhile the above challenges are more relevant for a developing economy like India there are a lot of learnings that can be leveraged from the global best practices and countries such as Germany who are ahead in this journey: · Customer centric approach to en-sure faster approach compared to standard manual features· No single fit for all - Manufactur-er and Brand should keep their re-spective segment and brand ethos into consideration while conceptu-alizing the IoT roadmap· Vernacular and local language support is a critical success factor· Secured solution - To avoid hack-ing incidents where someone took the control of vehicles· Factory-fitted solution compared to custom-fit especially in the de-veloping world to increase the customer confidence· Continuous data analytics to draw insights and improve the product, reduce maintenance cost etcFurthermore, the statistics prove that the IoT can not only ben-efit the manufacturer but the entire ecosystem including following key players:· Manufacturer ­ Enhance Custom-er Experience, Brand loyalty and additional revenue source· Customer ­ Improve safety and security of both driver and vehicle· Dealers ­ Preventive maintenance and service, improved CSAT· Insurer - Insurance premium as per vehicle usage etcHow connected is the Auto industry?According to an IoT statistics pub-lished on Internet, the total num-ber of connected devices will reach around 30 billion by 2020 and the IoT investments will cross USD 1 trillion mark. As per Business Insider's premi-um research service, it is expected that 94 million connected cars to ship in 2021, and 82 percent of all cars shipped will be connected with IoT based device. Hence, it's quite imperative for all the manufacturers to have necessary readiness to embark on this journey effectively. While all the major players are work-ing independently (in their own areas) and are already in differ-ent stages of execution, there is a need to explore avenues of com-ing together and perhaps form an IoT consortium, as it'll benefit the entire ecosystem. In fact, the technology giants such as Google, Microsoft, SAP etc who have a crucial role to play can also take a lead on this front to join hands and come up with a compre-hensive, secure, scalable, interop-erable and cost effective platform for the Auto industry. Also, there are a lot of niche and nimble play-ers already operating in the mar-ket who can join the bandwagon and bring a lot of value to the table. Clearly, the need of the hour is to come together and ride this wave together smoothly. I truly believe that IoT coupled with Industry 4.0 will revolutio-nise the entire Auto industry in coming years and shift the power in the hands of customer. In the sense, that customer will be able to design, customize his vehicle through digital tools and the online order will be placed. The same will be moved to production in a small batch using other key levers of In-dustry 4.0 such as 3D printing, Ad-ditive manufacturing etc thereby reducing the lead time from design to production. With the innovation of IoT in the last couple of years, the auto industry is certainly one of the top adopters of the technology; leveraging it mainly for promising safety, preventive maintenance and other infotainment purposes
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