How IoT is Impacting the Automotive Industry

How IoT is Impacting the Automotive Industry

In just the next 3 years we will see an unprecedented 90% of the cars fitted with some or the other form of connectivity platform. Combine this with the recent strides Google has taken to improve the performance of its driverless cars, and what we see is that IoT is moving up fast as a decisive influencer in the automotive industry.

What is the trend currently?

Automobile manufacturers have witnessed a growing opportunity in getting their cars connected on digital platforms. A Business Insider report states that there is an $8.1 trillion revenue opportunity in connected cars that will materialize between 2015 and 2020. Automobile manufacturers and policy makers have recognized that this opportunity extends far beyond the telematics and Wi-Fi systems on cars. Think smart sensors, edge computing, chargers, radars, lidars, and public transit surveillance.

How IoT is Impacting the Automotive Industry

What value will IoT provide to automobiles?

1. Enhance access – Imagine holding a hot cup of brew while your smartphone starts the car engine in the snowy season and lets it warm up? This is an actual use case applied by BMW with its ‘My BMW Remote App’. Even if your car comprises of technology not compatible with the modern day IoT, there is a solution to it. Services like SmartStart will ensure that your car stays connected with your smartphone. Your mobile device can also launch specific actions like start, lock, or locate your car with precise GPS coordinates

2. Enhance security – Today’s mobiles are equipped with best-in-class security and encryption solutions. This advanced degree of protection can also help keep your car secure when you are not near it. One example of enhanced security enabled by IoT is the use of NFC based car door locks. You can use the NFC feature of your smartphone to lock or unlock the car door by touching your phone with the door handle. Even when other family members or your friends will use the car, you simply need to provide access to their smartphones from your mobile device. You can check out TapKey to see a similar concept – using the app to convert the mobile phone to a car key for easy and secure access.

3. Enhanced hack protection – Solutions like Karamba Security make it easy for you to thwart unwanted hackers from entering your car’s system. Its electronic Control Unit (ECU) consists of a host of measures that integrate an enhanced level of protection by using your Wi-Fi, Bluetooth, and USB ports on the car. Even if someone tries to gain unauthorized access or install malware, an automated alert is sent to the car manufacturer.

Signing off

As is evident, the amount of value provided by IoT is substantially very high. This also makes IoT a major decisive factor in the strategies of automakers. And this explains the growing interest of this industry in embracing IoT and embracing it fast.

What other advantage can IoT provide to the auto industry? Do write in to us and let us know.

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