The Future Of IoT, 5G And M2M In The Automotive Industry

The Future Of IoT, 5G And M2M In The Automotive Industry

By Evan Kirstel April 20, 2017 1 Comments
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The Future Of IoT, 5G And M2M In The Automotive Industry by Evan Kirstel

Although many people expect the car of the future to be a self-driving car, there is much more to the digitalization of cars. The concept of a connected car has already taken root in the minds of the experts in the automobile industry. The Internet of Things (IoT), 5G, and M2M technologies will have a profound impact on the automobile industry in the near future. The GSMA predicts the annual sales of connections for automobiles will reach 91-million units by 2025!

The next couple of years will integrate several new technologies to enhance the quality of driving and the experience of passengers traveling in the car. Artificial Intelligence (AI), 5G, Internet of Things (IoT), M2M technology, and holographic projections of data on the windscreen will take your driving experience to the next level. It will definitely change the way you interact with the onboard systems in your car. AI will help predict what the driver requires and take action on these requirements. If you are driving an electric vehicle, AI can predict when the battery is going to run low and book a charging station accordingly.

Most of the innovative things that are supposed to happen in the automotive industry revolve around the theme of connectivity. There will be many new services emerging around this theme in the near future. An insurance provider will be able to create a profile of a driver thanks to the latest technology in cars. They can easily collect information about the way the particular individual drives the car and offer him a lower price for insurance coverage.

Another emerging trend is the movement towards the "Car As A Service" concept. For example, there are people who don't want to own an automobile but find a way to travel from point A to point B. In fact, new business models will emerge around car sharing in the future to fulfill the needs of these people. Connectivity is going to be the key for companies who will need to manage their fleets. The future cars will be able to run sophisticated applications beyond navigation as cars undergo a revolution in sensors. The cost of sensors is going down as future cars will contain dozens of short-range sensors to collect important data about the environment. The connectivity to the cloud is going to be an important part of any vehicle within a few years.

In conclusion, the digitalization of cars has already begun. Although the road to a fully autonomous car is long, we have already started the journey.

 

1 Responses to "The Future Of IoT, 5G And M2M In The Automotive Industry" - Add Yours

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Snehal Patel 4/20/2017 9:11:50 AM

It will be interesting to see how things like heads up displays evolve. They are already available but without self or semi-self driving they could be viewed as a distraction too.
Usage based insurance has been available for a while with insurance companies giving away free OBD trackers. But for some reason it has not picked up. As these tracking capabilities get embedded into the car like Tesla etc. already do, there will be partnerships between the auto makes and insurance companies which may change the way coverage works today.
With the investments Detroit has made in companies like Lyft and other bike sharing companies it is clear that they too are looking at people buying less cars in the future. This will be a major shift in their business model and revenues going forward. In general the new generation is averse to buying and prefers to rent. They don't want to be tied down to location and prefer to be mobile. This is will affect real estate, transportation and other industries too.

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