IoT For Auto Industry
Some decades ago, automotive experts had outlined as to how the mobility services would become the new frontier for smarter transportation. Companies have now started realizing the importance of IoT for Auto Industry.
People even started thinking that it was high time that the automotive industry established their stake in this quickly growing opportunity by digitally integrating how people move around. Cars will certainly remain one of the key components of the transportation sector with connected vehicles playing a crucial role in supporting the world of mobility takes off.
At present, most of the companies in the automotive sector are aggressively investing to bring in an interesting variety of offerings to their portfolio.
Many companies have highlighted the need for building new ecosystems in order to completely transform the IoT. This especially applies to the mobility, automotive and also how people move from one location to another. This happens in all the places where IoT is active, be it transportation, health care or other sectors.
This also raises certain important questions about the data ownership, business models or even the consumer relationships.
Ecosystems are built around customer experiences on how they wish to use the mobility options. Consumers have multiple preferences with regard to the features as well as the services that they wish to obtain. These are mostly based on the digital maturity as well as the life cycle expectations.
The IoT driven technologies have been constantly bringing in endless options to the consumers. This also implies that the age-old boundaries in the automotive sector are gradually disappearing.
As per a report published by IBM, around 73% of the automotive executives believed that teaming up with other sectors will become a factor of supreme importance to their growth blueprint.
Connected vehicles will certainly continue to be a catalyst for change. They are yet to become the core part of consumer’s life, however, the new services for connected vehicles are brought forth on a regular basis.
The electrification continues to grow, despite the lower oil prices. The vehicles are now moving towards the autonomous driving.
The auto manufacturers and those outside of the industry are highly geared up in piloting the autonomous cars and trucks. These cars are equipped with effective safety features leading to better automation to help the drivers.
This concept is changing drastically as the auto-makers are now turning into mobility providers. These services are now turning out to become the next best competitive landscape. Despite all these things, there are bigger investments in enhancing the value of customer experience.
Every aspect is now done with an emphasis on the data analytics. By the year 2020, the connected cars will be generating 350 MB of data every minute they are operating. This will include Media, text, and voice along with sensor data. The ability to understand and analyze this piece of information will also be paramount. The theme that is driving through these strategies is Digitization.
The world is certainly digitizing across all the aspects of our lives. Almost all the aspects of what it means to be a car company are being completely transformed by the digital technology. Apple went on to make a huge investment of around $1 Billion USD in Deedee, a popular Chinese ride-sharing leader.
Instances such as these primes the need for innovation across the growing ecosystem for faster development of products or services and also to connect vehicles to the IoT.
The Automotive User Experience
If we sum it up, connected vehicles usually serve one of the 3 main functions. First, to provide assistance to the driver as well as the occupants of the vehicle, then to enable the vehicle to be able to maintain or take care of itself and finally for the vehicle to be able to fit into a bigger transportation system.
Technology will enable self-learning capabilities in vehicles. They will recognize and understand driving habits, figure out how the driver feels emotionally and learn the depth of the overall skill so that they will be able to adjust themselves to make their occupants feel safer and also drive more efficiently.
Cars should also be self-healing so that It can diagnose itself and know when it needs repair and updates. A number of vehicles are becoming software driven and electric, making self-healing capabilities more viable. Vehicles should also be fitting into and assist in optimizing the broader transportation system.
They will be auto-socializing as the vehicle’s social networks will share information such as the traffic and weather conditions.
Increasing number of people are showing considerable interest in self-driving vehicles. The underpinning of self-enabling vehicles is data. Data-driven solutions eliminate the complexity of the (HMI) Human Machine Interface with multiple knobs, levers, and buttons that restrict the realization of the IoT in connected cars.