The Internet of Things (IoT) is transforming human lives and rapidly disrupting the way businesses function across industries. But IoT has found its widest application in the automotive industry.
Automotive manufacturers are seeing a growing demand for smart communication systems, connected cars, and in-vehicle infotainment across all markets around the world. According to research, the global market for IoT in automotive is projected to grow up to $104 billion by 2023.
Automotive IoT offers a wide range of advantages for automobile manufacturers to create, manage, and enhance innovative automotive solutions for the end-users.
Over the years, automotive IoT has led to several groundbreaking technological advancements such as smart navigation and telematics, advanced driver-assistance systems, predictive maintenance apps, vehicle-to-vehicle apps, vehicle-to-infrastructure apps, and vehicle-to-everything communication apps.
The use of IoT software, sensors, and connectivity beacons is now almost mainstream in high-tech smart vehicles. On top of the smart solutions within the vehicles, automotive IoT is also changing the traditional norms in road infrastructure, transportation, and logistics.