The IoT Magic in Mobility
The 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% 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% 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 derive more value and make informed decisions from the increasing data volumes.
Future of Automotive Industry
The future is brighter for the automotive industry after adopting the Internet of Things. IoT in the automotive sector adds an advanced layer to the traditional car concept that creates a standard structure from conventional to smart cars using the latest IoT technologies. Within the next 4 to 5 years, the impact of IoT in the Automobile industry will be spent more than 250 billion dollars as per the report.
Vehicle Owner safety is the first and foremost concern for IoT-enabled smart vehicles. Smart vehicles make use of data collected from vehicle sensors, health monitoring on a real-time basis, scheduling automated maintenance, usage of seatbelts, anti-drowsiness solutions, in-lane position control mechanisms, etc. Safety can be ensured by implementing Software Development Kits into hardware like data transmitters, sensors, or vehicle control units. Moving on to predictive maintenance, the user needs to know how healthy his vehicle is.
Automotive IoT facilitates the implementation of end-to-end fleet control by leveraging in-vehicle data collection, in-cloud data management and user analytics, and many more. Fleet Management solutions target connected sensors, location tracking and scheduling, speed control, fuel tracking, usage analytics, driver and fleet management, traffic management, and sometimes even workload management.
A group of companies and universities have come up with new concepts for intelligent transport systems and connected vehicles. The technology is still new, but the companies want to keep developing new features for products such as autonomous cars. The project utilizes connections operating at 5.9GHz frequency. Tests have been taken out using two vehicles going in opposite directions at a relative speed of up to 430Km/h, using all notions covered by ConVeX: vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I) communications at 5.9GHz ITS, and vehicle-to-network (V2N). The purpose was to test the connectivity and use of all variables in future IoT vehicle technologies. Despite ongoing tests, they have so far tested vehicle-to-infrastructure (V2I) communications, vehicle-to-vehicle (V2V), interactions, and the reliability of communications.
Huawei introduced a new smart console brand, HarmonySpace, a specialized HarmonyOS vehicle operating system. Based on Huawei's 1+8 ecology, apps on smartphones and tablets which can be linked to the car seamlessly with HarmonySpace, which also delivers smartphone projection capability.
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