The term “connected car” has become a common jargon within the automotive community and is a familiar example of Internet of Things (IoT) technology.
However, the developments of IoT-enabled systems do not just occur on the car but rather, it is continuously evolving behind the scenes, indirectly affecting the entire automotive ecosystem.
In this article, we take a look at how IoT- enabled technologies are evolving the industry to greater heights.
1. Real-time capabilities
IoT-friendly systems and operations enable manufacturers to improve the quality of their product in real-time.
With IoT, car manufacturers can easily adopt a resilient lean manufacturing approach that can direct them towards achieving shorter output time, no matter how sophisticated products tend to become.
Adoption of IoT-friendly lean manufacturing practices enable the implementation of real-time optimisation of operations such as scheduling (which allows preventative maintenance) and flexible manufacturing processes.
Moreover, IoT enabled practices allows manufacturers to continuously synchronise with the continuous change and increase in demands from customers.
The ability to fetch data in real-time also allows for the optimisation of traffic flow and live hazard reporting for road users.
2. Enhanced customer satisfaction
The aftermarket sector can leverage on IoT systems using a car’s “in-vehicle connectivity” that can allow manufacturers to track defects in the vehicles while optimising reliability.
This can be executed through the application of predictive maintenance patterns and systems that detect risks of failures in real-time.
In the near future, IoT-enabled cars or what we call, Next-Generation Vehicles (NXGV) possesses a great opportunity for OEMs to provide regular software updates and upgrades, delivering new features and services while rectifying previous problems or bugs to their customers.
3. Higher security
The hassle of finding for your car in the parking lot of a shopping mall can be forgotten with the availability of IoT-enabled systems through live-tracking features.
LoJack Corporation is an example of a company that is actively using IoT systems as a tool to increase the safety of road users.
They developed a stolen vehicle recovery system that is able to alert law enforcement officers when a vehicle is reported to be stolen.
Upon activation, the device emits a signal that can be received by police cars within 5-8 kilometres.
This scenario proves how useful IoT-enabled systems can be in the near future.
4. Higher efficiency and management over transportation systems
IoT can benefit the transportation sector by reducing and eliminating hiccups that occur due to poor fleet management.
This can be achieved through real-time data analytics and control such as monitoring the time taken for idling, fuel consumption, travel conditions including time taken to travel between points.
The comprehensive data acquired in real-time can be leveraged by the transportation sector to induce flexible journey periods, reduce unnecessary idle time and delays.
The application of IoT and its related services are still in its premature stages albeit being particularly useful in enhancing the relationship and needs between customers and manufacturers.
IoT has the ability to spur cross-industrial businesses and services, giving birth to new businesses while opening doors of opportunities to potential SMEs and entrepreneurs.
It is imperative for the local automotive industry to begin the adoption of these new technologies in order to future-proof the automotive sector while enhancing its competitiveness in the global arena.