Automotive Industry

How the Automotive Industry Use Internet of Things (IoT) Technology?

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There is no way anyone could think of the Internet of Things (IoT) when thinking about the automotive industry. Usually, automobile manufacturers integrate technology at a far slower pace than other industries. With the recent innovations in IoT, however, the technological zeitgeist that promises safety, convenience, and customization, the automobile industry is fully poised to take advantage of this new age technology.

How the Automotive Industry Use Internet of Things (IoT) Technology

Here are some ways in which IoT provides solutions for the automotive industry:

As more automotive designers implement IoT into their designs, more and smarter cars are manufactured. Smart cars enabled with IoT are the latest trend in the automotive industry and let’s face it, there’s no slowing down. Statistics show that around 381 million smart cars will be connected with IoT devices by 2020.

Transportation in 2018 was driven by software – from apps that can predict traffic patterns in real time to guidance systems that can avoid accidents based on communication between vehicles, the IoT approach is completely revolutionizing how people get from one place to another. Automobile makers are now working hand in hand with software developers to create a transformation in the way thing work for the industry.

IoT is not only tied to the direct functioning of the vehicle. It can also act as a way of mitigating driver behavior. Auto insurance companies are also using IoT to monitor the driver’s habits. When IoT is integrated into transportation, third-party insurance companies can gain more insights about the driver – such as metrics as the time of the day when the vehicle was driven, distance traveled per day, speeding and braking habits etc. With this information, insurance companies can base their premiums off of the drivers’ habits. IoT also offers a more convenient way to drive.

IoT is revolutionizing the automotive industry and will definitely improve at least some aspects of our lives.

Automotive Industry

How IoT is improving transportation?

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Transportation and logistics are essential components to many businesses – sometimes by air, by ground or by sea. To track performance and quality of services, access to real-time data is essential and critical. Inefficiencies caused due to lack of visibility could cause real damages in terms of costs.

How IoT is improving transportation

There are a number of factors such as the unpredictable nature of fuel costs, rising labor costs, unpredictable traffic and many times a changing regulatory environment that make operations especially challenging in the transportation industry – and profitability are threatened.

In order to improve operational efficiency and performance, it is essential that businesses get visibility into personnel, equipment, and transactions – real time.

The Internet of Things along with mobile technologies has made it possible for businesses to track all this data and improve efficiency. With the right IoT solution, enterprises can connect all the devices across a centralized cloud network and capture mission-critical data by gaining real-time visibility into operations. This data provides actionable insights so that they can base their strategies on factual data and make improvements.

End to end visibility

In order to reach a level of performance, businesses need to make an end to end improvements. With IoT, they get improved visibility that facilitates more effective, timely decisions that reduce delays because issues are detected sooner. They get real-time data across their entire supply chain leading to more informed decisions.

Warehouse and yard management

Warehouses or yards are the core of the transportation and logistics business and their efficiency directly impacts the entire business. IoT enabled mobile devices are designed to track inventory data, equipment, and vehicles. Warehouses can capture the right data that ensures that the right products get to the right places at the right time. By reducing human intervention and enabling more machine-to-machine information sharing, enterprises can greatly increase efficiency and accuracy.

Fleet management

Fleet management plays an important role in maintaining schedules, everyday vehicle usage, and service routes. This fleet downtime would mean great losses to the business and hence must be minimized. With real-time access to this data related to maintenance history, parts availability and inventory records, by leveraging from connected mobile devices early detection of potential threats can lead to proactive action and greater efficiency.

IoT enables organizations to pinpoint inefficiencies in real time, improving the overall efficiency of operations dramatically.