{"id":1291,"date":"2019-01-31T06:52:53","date_gmt":"2019-01-31T06:52:53","guid":{"rendered":"http:\/\/emarkets.com.server.digiteck.in\/wrdpress\/?p=1291"},"modified":"2019-09-20T07:20:47","modified_gmt":"2019-09-20T07:20:47","slug":"how-is-internet-of-things-iot-reshaping-and-transforming-the-automobile-industry","status":"publish","type":"post","link":"https:\/\/www.speakin.co\/edit\/how-is-internet-of-things-iot-reshaping-and-transforming-the-automobile-industry\/","title":{"rendered":"How is Internet-of-things (IoT) Reshaping and Transforming the Automobile industry?"},"content":{"rendered":"\n<!-- Quick Adsense WordPress Plugin: http:\/\/quickadsense.com\/ -->\n<div class=\"fff31b069dab2d4baa9938924ee8e97c\" data-index=\"1\" style=\"float: left; margin: 10px 10px 10px 0;\">\n<script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-8586106947150931\"\r\n     data-ad-slot=\"4223625083\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n<div class=\"entry-featured entry-thumbnail\" style=\"text-align: justify;\"><span style=\"font-family: georgia, palatino, serif;\">The <strong>Internet of things<\/strong> or <strong>IoT<\/strong> is the popular buzzword these days. It refers to <strong>billions of devices physically located globally, but are connected together via Internet to exchange and share data<\/strong>. IoT is also one of the key levers of <strong>Industry 4.0 (4th industrial revolution).<\/strong>\u00a0 It\u00a0brings together different aspects of production a common platform via\u00a0<\/span><span style=\"font-family: georgia, palatino, serif;\">on o<\/span><span style=\"font-family: georgia, palatino, serif;\">ne network, and facilitate Machine-to-Machine and Human-to-Machine interactions to trigger various actions.<\/span><\/div>\n<div><\/div>\n<h2>Influx of\u00a0IoT in Automobile Industry<\/h2>\n<div class=\"entry-content\" style=\"text-align: justify;\">\n<p><span style=\"font-family: georgia, palatino, serif;\">With innovation of IoT in the couple of years, the <strong>auto industry is one of the top adopters.<\/strong>\u00a0IoT has been transforming Automobile Industry and leveraging it mainly for promising safety, preventive maintenance and other infotainment purposes. It in\u00a0the\u00a0<strong>Automobile Industry<\/strong> is becoming a <strong>key differentiator<\/strong> and influences the customer purchase decision to a large extent mainly due to following reasons:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif;\">Enhanced customer experience \u2013 increases brand loyalty<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\">Competitive edge \u2013 USPs<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\">Additional revenue source through license subscription and other pay-per-use features<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\">Analytics, insights and product improvement from the collected data<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\">Product version upgrades via Over-the-air, Online push etc.<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\">Autonomous vehicles<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\">Real-time monitoring<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\">Preventive maintenance alerts and notifications<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: georgia, palatino, serif;\">But as they say <strong>\u2018It\u2019s easier said than done\u2019<\/strong> \u2013 there are <strong>many impediments for the successful implementation and adoption of IoT in Automobile Industry<\/strong>:<\/span><\/p>\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>Interoperability<\/strong> <strong>\u2013<\/strong> Seamless integration of IoT devices with the traditional ERPs and legacy applications has been one of the biggest challenge<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>No single player or consortium governing the regulatory policy for this domain \u2013<\/strong> most organization have acknowledged this as a potential risk<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>Inadequate infrastructure \u2013<\/strong> High availability and zero downtime environment, uninterrupted data connectivity and speed etc<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>Lack of skilled resources with domain expertise<\/strong><\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>Higher cost of IoT sensors, connectivity and maintenance<\/strong><\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>Complex ecosystem<\/strong><\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>Ubiquity<\/strong> <strong>\u2013<\/strong> Multiple sockets, applications, devices etc.<\/span><\/li>\n<\/ul>\n<h3>Learn from bigger economies<\/h3>\n<p><span style=\"font-family: georgia, palatino, serif;\">Above challenges are more relevant for a developing economy like India. However, there are a <strong>lot of learning that can be leveraged from the Global best countries<\/strong> such as Germany who are quite far in this journey:<\/span><\/p>\n<!-- Quick Adsense WordPress Plugin: http:\/\/quickadsense.com\/ -->\n<div class=\"fff31b069dab2d4baa9938924ee8e97c\" data-index=\"2\" style=\"float: left; margin: 10px 10px 10px 0;\">\n<script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n    style=\"display:block; text-align:center;\"\r\n    data-ad-layout=\"in-article\"\r\n    data-ad-format=\"fluid\"\r\n    data-ad-client=\"ca-pub-8586106947150931\"\r\n    data-ad-slot=\"5455236699\"><\/ins>\r\n<script>\r\n    (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n\n<ul>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>Customer-centric approach<\/strong> to ensure faster approach compared to standard manual features<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>No single fit for all<\/strong> \u2013 Manufacturer and Brand should keep their respective segment and brand ethos into consideration while conceptualizing the IoT roadmap<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>Vernacular and local language support<\/strong> is a critical success factor<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>Secured solution<\/strong> \u2013 To avoid hacking incidents where someone took the control of vehicles<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>Factory-fitted solution<\/strong> compared to custom-fit especially in the developing world to increase the customer confidence<\/span><\/li>\n<li><span style=\"font-family: georgia, palatino, serif;\"><strong>Continuous data analytics<\/strong> to draw insights and improve the product, reduce maintenance cost etc.<\/span><\/li>\n<\/ul>\n<h1 style=\"text-align: center;\"><span style=\"font-family: georgia, palatino, serif;\">How connected is the Auto industry?<\/span><\/h1>\n<p><span style=\"font-family: georgia, palatino, serif;\">An IoT statistics states that the\u00a0<strong>total number of connected devices<\/strong> will reach around <strong>30 billion<\/strong><strong>\u00a0by 2020.<\/strong><\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif;\">As per Business Insider\u2019s premium research service, it is expected that 94 million connected cars to ship in 2021, and 82% of all cars shipped will be connected with IoT based device.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif;\">Hence,<\/span><\/p>\n<blockquote><p><span style=\"font-family: georgia, palatino, serif;\">it\u2019s quite imperative for all the manufacturers to have necessary readiness to embark on this journey effectively.<\/span><\/p>\n<h3>EXPLORING NEW AVENUES<\/h3>\n<\/blockquote>\n<p><span style=\"font-family: georgia, palatino, serif;\">While all the major players are working independently, there\u2019s a need to explore avenues of coming together and perhaps form an IoT consortium, as it\u2019ll benefit the entire ecosystem.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif;\">Technology giants like Google, Microsoft, SAP can also take a lead and join hands to come up with a comprehensive and cost effective platform for the Automobile industry. <\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif;\">Many niche players are already operating in the market who can join the bandwagon\u00a0<\/span><span style=\"font-family: georgia, palatino, serif;\">and bring vale to the table. Clearly, the need of the hour is to come together and ride this wave together smoothly.<\/span><\/p>\n<h3>Iot is the new revolution<\/h3>\n<p><span style=\"font-family: georgia, palatino, serif;\"><strong>IoT coupled with Industry 4.0 will revolutionise en<\/strong>\u00a0<\/span><strong style=\"font-family: georgia, palatino, serif;\">tire Automobile industry in coming years and shift the power in customers hands<\/strong><span style=\"font-family: georgia, palatino, serif;\">. In the sense, that customer will be able to design, customize his vehicle through digital tools.<\/span><\/p>\n<p><span style=\"font-family: georgia, palatino, serif;\">The same will be moved to production using other key levers of Industry 4.0 thereby reducing the lead time.<\/span><\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"entry-content\">\n<h5 style=\"text-align: justify;\"><span style=\"font-family: georgia, palatino, serif;\"><strong>DISCLAIMER:<\/strong><\/span><\/h5>\n<h6 style=\"text-align: justify;\"><span style=\"font-family: georgia, palatino, serif;\"><strong>THE VIEWS AND OPINIONS EXPRESSED IN THIS ARTICLE ARE THOSE OF THE AUTHOR AND DO NOT REFLECT THE VIEWS OF SPEAKIN, ITS MANAGEMENT OR AFFILIATES. SPEAKIN MAKES NO REPRESENTATION AS TO ACCURACY, COMPLETENESS, CORRECTNESS, SUITABILITY OR VALIDITY OF ANY INFORMATION ON THIS ARTICLE AND WILL NOT BE LIABLE FOR ANY ERRORS, OMISSIONS OR DELAYS IN THIS INFORMATION OR DAMAGES ARISING FROM ITS DISPLAY OR USE.<\/strong><\/span><\/h6>\n<\/div>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The Internet of things or IoT is the popular buzzword these days. It refers to&#8230;<\/p>\n","protected":false},"author":10,"featured_media":1292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"image","meta":[],"categories":[12,100,144,176,40],"tags":[291,323,631,642,645,646,647,648],"_links":{"self":[{"href":"https:\/\/www.speakin.co\/edit\/wp-json\/wp\/v2\/posts\/1291"}],"collection":[{"href":"https:\/\/www.speakin.co\/edit\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.speakin.co\/edit\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.speakin.co\/edit\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.speakin.co\/edit\/wp-json\/wp\/v2\/comments?post=1291"}],"version-history":[{"count":0,"href":"https:\/\/www.speakin.co\/edit\/wp-json\/wp\/v2\/posts\/1291\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.speakin.co\/edit\/wp-json\/wp\/v2\/media\/1292"}],"wp:attachment":[{"href":"https:\/\/www.speakin.co\/edit\/wp-json\/wp\/v2\/media?parent=1291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.speakin.co\/edit\/wp-json\/wp\/v2\/categories?post=1291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.speakin.co\/edit\/wp-json\/wp\/v2\/tags?post=1291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}