The Internet of Everything and the Maturation of the Connected Vehicle
Contrary to what some major vehicle manufacturers would have you believe, the connected car didn’t arrive ten years ago with the introduction of basic phone connectivity. As embedded hardware made way to portable devices, ultimately leading to a melding of the two, we now find ourselves on the cusp of yet another technological shift – The Internet of Everything (nee Things) has matured.
Fueled by advances in on-board electronics and the proliferation of apps able to communicate with them, our connected world is about to get a serious device infusion in the form of your automobile. With near instantaneous communication unhindered by geography, drivers will soon leave behind the uncertainty that comes with driving into their nearest service center and explaining their vehicular difficulties through phrases such as “it’s making a whooshing noise.” Through real-time analytics tied to predictive maintenance, access to vehicle sensors, and over-the-air updates, repair providers will shed their traditional paper and spanners for deep actionable insight into both mechanical and electronic vehicle issues.
So, while Google and Apple go round for round with incremental dash UI improvements, the real gains will manifest on the service side – maintenance connectivity is a universal plus for our industry. And it doesn’t stop there. Connected vehicle fleets, road signs, in-road sensors; it’s all there for the taking. Take fleet management, for instance. ABI Research estimates that about one-third of current recalls pertain to issues that could be fixed with OTA updates, translating to roughly $6B in savings. Similarly, IHS Automotive research shows that OTA updates will ultimately save vehicle manufacturers somewhere in the neighborhood of $35B by the year 2022 – that’s billion with a B.
Telematics and IoT, combined with the power of mobile applications, is creating new revenue streams and ushering in a new era of connectivity for the automotive industry – businesses only need the right platform and network to capitalize on it.
Elliott Schendel, Director of Marketing, SHIFTMobility Inc.