The global automotive IoT market is expected to rise from $125 billion in 2022 to $219 billion by 2026. The figures are rising at a rate of 15% CAGR.
Reducing failure and downtime of the hardware device manufacturing equipment is one of the biggest benefits of IoT today.
We as an IoT software development company can help you gain these IoT BENEFITS in Automotive Industry:
- Fleet Management – It becomes way too easy to keep track of the weight and volume of cargo, truck’s performance in terms of mileage, monitor traffic conditions on the road, route, time, and driver management.
- Connected Cars – The cars are connected through an IoT network that connects vehicles with smart transport systems. This is definitely for the best since the enhanced vehicle connection enables the car drivers to send real-time updates and make decisions according to the current traffic.
- Vehicle to Vehicle (V2V)
- Vehicle to Infrastructure (V2I)
- Vehicle to Pedestrians (V2P)
- Vehicle to Network (V2N)
- Automotive Maintenance System – Predictive analysis and preventive maintenance are the two techniques that help a great deal in being prepared. The system alerts the user even before the car parts break or the condition worsens.
- Autonomous Vehicles – This is a trend that will grow even more in the time to come. Along with different proximity sensors and cameras, the newly IoTized cars are integrated with IoT systems to decrease human error and make driving more comfortable and safer.
Quoting Hitesh Gambhava, the CEO at iFour, “However strict the traffic rules become, there still will be a wide scope of improvement in increasing road safety. Considering this as a top priority, we think it is important to bring revolutions in the market via embedded hardware and software solutions. That is how we started iFour and we will keep innovating new ideas to enhance the industry via our automotive industry solutions.”