This article reveals how to build up this picture for your business and optimize commercial transportation through automotive IoT solutions.
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In 2021, the global automotive IoT market was valued at US $115 billion, and is projected to grow at a GAGR of about 90%!
This impressive growth reveals some tendencies of what a vehicle becomes for humankind. First, end-users who are getting used to having their cars always know the optimal route and are ready to offer their favorite podcasts to listen to. The second is commercial transportation that uses vehicle data to make money. Accordingly, the automotive IoT solutions market is abundant with various technical bells and whistles, from 300-meter range lidars to heads-up display units which are actively advertised. Such solutions are really impressive, but best-in-class does not mean the best option for your business. For instance, you can equip the vehicle with extremely high-resolution computer vision cameras to identify obstacles on the route, but why do you need them if the well-trained neural network can perform the same much cheaper?
For commercial transportation to earn, it is essential to pick up a custom combination of enterprise IoT solutions suitable for the particular business model, vehicle fleet, and environmental conditions. It is possible only when a business sees the whole picture of what it can get through IoT solutions and how the IoT ecosystem will work. In this article, we reveal how to build up this picture for your business and optimize commercial transportation through automotive IoT solutions.
The IoT-equipped car is between a non-automated and fully automated (or smart) car. The more developed the IoT network in the vehicle is, the more detailed picture it can expose that allows a vehicle to take more decisions by itself. Smart cars are the most advanced vehicles in automotive absorbing the latest technologies to provide an exceptional level of safety. Among commercial transportation, they can be used, for instance, for last-mile delivery.
The following components are most common in IoT vehicles:
These components help the driver and operator evaluate the traffic situations in detail. Surely, not all automotive IoT projects require implementation of all these components — some of these tools are complementary to each other, and some are interchangeable. For instance, there is no need for Lidar only to avoid obstacles on the track and car crashes when implementing distance sensors at every side of the vehicle. Yes, automotive IoT solutions are amazingly powerful tools, because they help “car intelligence” to make decisions, but their major business value is their ability to gather and analyze a large amount of data to find faults and room for improvement.
To have the business processes optimized, you should adopt automotive IoT solutions in strict accordance with your business needs. IoT ecosystems with vehicles involved can solve the main industry-specific issues to avoid financial losses, increase safety on the road, and find new business opportunities. Let’s see how this works in particular cases.
When the new vehicle components are worn out too soon, you can only guess, either the manufacturer is not reliable, or the driving style is too harsh. To monitor the latter, the automotive IoT industry offers to identify harsh acceleration, braking and cornering immediately through IoT devices with a gyroscope and accelerometer installed.
