Connected Car to Offer Significant Opportunities to Automotive Sector

The ever-growing technology and the increasing internet reach have transformed everything into “Smart,” be it a phone, a TV, or a watch. The entire world is ”Connected,” and everything is just one click away! When everything is connected through the internet, then why not cars? The automobile industry is witnessing a new sensation called “Connected Car.” Let us know more about connected cars.

Connected cars are a part of the “internet of things” that has an internet connection, generally via wireless local area network (WLAN). Such cars can always use the internet to perform functions or download when requested by the consumer. They enable their users to gain real-time information. They comprise facilities like Vehicle to Cloud (V2C), Vehicle to Infrastructure (V2I), Vehicle to Vehicle (V2V) that offer a seamless experience to the consumers. The innovation has also posed a significant opportunity for the automobile sector.

Connected cars have various benefits. They’re safer and less harmful to the environment. IoT is likely to redefine the automobile sector and offer several advantages. Let us have a look at the benefits of Connected Cars.

1) Passenger Safety- As per the UN, about 1.3 million people die in road accidents every year due to road traffic accidents. The “Vehicle-to-Everything” communication facilitates direct information between pedestrians, vehicles, and road infrastructure. As a result, the drivers can be alerted to the nearby troubles that can lessen the chances of accidents. Therefore, it can improve road safety significantly and reduce road accidents.

2) Environmental Benefits- The “Vehicle-to-Everything” communication can prevent traffic congestion. It can help alert drivers to the forthcoming red traffic signals allowing them to choose an alternative path. It can also adjust the vehicle’s rate of travel to augment fuel economy and lessen emissions.

Connected cars have brought a significant market opportunity for the Automotive Industry. It has provided a new revenue stream to the Original Equipment Manufacturers (OEMs). The technology enhances customer experience and enables the automakers to deliver advertisements, becoming another growing source of revenue. Also, the accumulated data gives a significant insight into the customer behavior that can help provide better customer experiences like fleet management.

The automobile industry will have to adapt to the latest technologies as Connected Cars increases the market. Therefore, there is a need for OEMs & Tier-1 manufacturers to partner with technological experts to sustain in an era of the software-dependent world.