How IoT is reshaping the global automotive industry?

Digital technology is transforming virtually every industry vertical across the world, and the automotive industry is no different. From autonomous cars to electric vehicles, the automotive industry is undergoing a significant transition from combustion engine toward fuel cells, batteries, hydrogen, electricity, and electronic systems and controls. Simultaneously, consumer-use models for vehicles are also undergoing considerable change. Next-generation concepts like connected cars are gaining significant traction among automobile manufacturers across the world.

The growing popularity of connected cars bodes well for the overall growth of the global IoT in automotivemarket. Internet of Things (IoT) is the primary driver of vehicle automation and vehicle connectivity. Here are a few common applications of IoT in cars –

• Smart cars come with built-in sensors for capturing information in real-time and prompting the owner with essential information related to maintenance, monitor gas/oil/fluid levels and engine temperature, rear-view cameras and proximity sensors for parking
• Connected vehicles typically send information to manufacturers with real-time data and insights to help develop a more accurate predictive maintenance model. Also, the speed of data transmission allows them to respond quickly to any issues found
• IoT connectivity helps car owners do away with the dependence on check-engine lights. connected cars offer an effective way for manufacturers to communicate problems with drivers, such as sending a calendar appointment to bring the car into nearest dealer for servicing
• Predictive collision avoidance using advanced sensors, big and fast data, and car-to-car connectivity

The digital transformation in the automotive industry is well underway and automakers must act now to realize the tremendous value and competitive advantage offered by IoT, including new business models and new customer relationships.