The things of endless things: Internet of Things

Internet of things (IoT) opens new avenues of possibilities that even mankind could never imagine of. There would be numerous is nothing but the smart use of modern technologies in various forms of devices. A patient undergoing ECG or an automobile that has inbuilt sensors for automotive IT with the operator being at a very far of place.- these are all a part of IoT. There is a tradeoff that IoT could only be leveraged with the internet latency being the least or nonexistent. The unlimited possibilities mankind is blessed with due to IoT makes it the best part of day-to-day life.

In common parlance is concerned with the designing, development, manufacturing, marketing, and ultimately the selling of IoT compatible devices. In the last 2 decades nobody has ever thought automation in motor vehicles will cross its path with IoT (Internet of Things). Besides serving the conventional business objectives, IoT technology has successfully met the challenging demands in automotive industry. Be it advanced communication capabilities or the smart sensor technology IoT intervention with automotive has undoubtedly set new trends for future economy.

Analyzing the current market trends, the impact of IoT has reached to the core manufacturing of motor vehicles. Starting from the concept to the design- IoT has penetrated the stereotypical structure and moreover turned it into a smarter module.

Would IoT become an integral part of automotive sector?

An article published in December 2017 by McKinsey&Company says about how four trends—autonomous driving, connectivity, electrification, and ridesharing—are the upcoming leaders of modern mobility. Précising this ACES trend; following are the points of consideration-

• Being Autonomous means attaining the next level in automation through driverless car that can be operated anywhere in the world.
• By Connectivity, it is meant that in the coming year’s car would be considered as computer on wheels. A car would be having 200 million lines of software code in the future!
• Electrification simply means a major shift in internal-combustion engine to a whole range of battery applications; which in turn can prove to be a viable economic option.
• The last trend Ridesharing is already prevalent in the current market that is popularly served by OLA, Uber, and more.

Now all these trends directly or indirectly demands the IoT interference. As a matter of fact, these trends by now have started making their place in automotive which highlights the fact that IoT is the major driver of current automotive market.

Investment in IoT Automotive can create endless possibilities

Automotive industry is an innovative centric sphere that calls for continuous R&D and eventually the funds to undertake such researches. By investing in this sector, one can thoroughly ensure that they are powering some of the most innovative technological discoveries of automotive industry. BMW, Ford, Audi AG are already the registered mainstream brands in this respect and needless to mention the return on investment these established brand generates periodically.

The broad exposure to the new emerging smart cars has suddenly took a great hype which is further going to break its own records. There is a term coined for this known as connected car/vehicle. This would be considered as the stepping stone for IoT in the automotive sector.

IoT would democratize and disrupt technology in a big way

The better lifestyles, increased purchasing power and constant technical up gradation has totally changed the perspective of commoners. Electronics, vehicles, homes are no more looked upon as the mere tools of conventional utilities; they are in fact now, a status symbol in a different perspective yet not considered as luxury. Nowadays, the concept of services and products has gone obsolete and regenerated as a concept of ‘experience’. Yes, it is the experience that a particular product or service provides which the customer pays for! Now, that IoT has already sneaked into endless sectors (automobile, healthcare, construction, mining, and on and on),

The utilities are going up swing for IoT exponentially only time will tell what impact it would create on our daily lives? Would it dictate terms and would we become slaves of these technologies? Only time will tell. What next is going to come out of it, is going to real interesting.