Novel Growth Opportunities in the Automotive Internet of Things (IoT) Sector
Advanced communication technologies will revolutionize automotive IoT
Advancements in technologies that improve navigation and object detection, communication between vehicles and infrastructure, image processing algorithms, data analytics, and machine vision have created opportunities for automotive manufacturers to discover a wide range of solutions for the automotive IoT arena. Enhanced safety and cost-effectiveness, the growing number of opportunities offered by the vast amounts of data collected, and the rising adoption of smart devices are encouraging advancements in the automotive IoT industry.
Vehicular communication is expected to play an important role in IoT development in the automotive space. Devices will talk to each other, and the connected cars of the future will interact with the environment around them, thereby leading to various forms of business opportunities with the data collected. Communication technologies such as 5G, wireless sensor networks, and narrowband-IoT (NB-IoT) will make vehicles truly autonomous with advanced connective functionalities.
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