The automotive sector faces four synchronous disruptive threats: electric vehicles (EVs), autonomous vehicles (AVs), connected cars, and transport as a service (TaaS). The Internet of Things (IoT), which refers to the use of connected sensors and actuators to control and monitor the environment, the things that move within it, and the people that act within, will play a key role in advancing these four disruptive themes.
The connected car will increase data generation exponentially and establish itself as a key component of the IoT ecosystem, and eventually, an extension of consumers’ automated homes. Automakers must use this abundance of data to pivot their business models towards software and reduce their dependence on Big Tech to meet the needs of their customers.
Leading automotive companies in IoT
The Industrial Internet will also profoundly impact how suppliers and original equipment manufacturers (OEMs) run their factories. It will allow them to track parts across the supply chain, monitor the condition of machines, and respond better to disturbances like the Covid-19 pandemic and the worldwide chip shortage.
Leading IoT adopters in automotive are Tesla, Toyota, Ford, Volkswagen, BMW, Continental, Tata Motors, Audi, Michelin, Bosch, Geotab, Garmin, DiDi Chuxing, BYD, Lyft, Dimler, Cisco, Geely, Yandex and Honda.
Discover the leading IoT companies in the automotive industry
Using its experience in the sector, Just Auto has listed some of the leading companies providing products and services related to IoT.
The information provided in the download document is drafted for automotive industry executives and technology leaders involved in automotive IoT solutions.
The download contains detailed information on suppliers and their product offerings, alongside contact details to aid purchasing or hiring decisions.
Amongst the leading vendors of IoT in the automotive industry are Foxconn, Ghost Locomotion, Hologram, Infineon, NVIDIA, NXP, Octo Telematics, Alibaba Group, Bosch and Huawei.
Future of IoT in the automotive industry
IoT will play a significant role in improving the efficiency of the automotive value chain. Its impacts will be particularly felt in the supplier network and auto manufacturers stages. IoT finds applications at all stages of the automotive value chain.
Tier 1 and 0.5 suppliers are driving forward the development of connected car technologies, with the vehicle establishing itself as a key component in the IoT. Auto manufacturers use the Industrial Internet to streamline production processes and increase efficiency. Autonomous vehicles communicate directly with road infrastructure to provide updates on conditions, traffic, accidents, and weather. IoT finds uses in the post-sale layer of the value chain through telematics-based insurance and predictive vehicle maintenance.
IoT is one of the primary enablers of digital transformation in the automotive sector. When combined with other emerging technologies such as AI, 5G, edge computing, and cloud computing, companies will expect to enjoy enhanced operational efficiency, reduced costs, improved decision-making, and better customer experience.