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Innovations in automotive connectivity and the Internet of Things (IoT), along with rising customer demand for connected experiences, are fuelling the growth of connected vehicles. According to a recent report, 96% of new vehicles shipped globally in 2030 will have built-in connectivity1. For original equipment manufacturers (OEM) looking to deliver this connected experience, choosing the right technology and partner is critical for success.
Today, it is already possible to step into your car at the end of a long workday and ask your car to find you a pizza shop on the way home if you don’t feel like making dinner at the end of a long day. With the advancement of technology, growing automotive IoT applications, and rising customer demand for convenience and ease, more widespread automation is expected in the years to come where not only will individuals be able to talk to their cars, the cars themselves will increasingly be able to “talk” to other cars. This exchange of information will help ease traffic congestion and improve road safety and the environment. The incentive for this is already there – the global connected car market is projected to reach US$56.3 billion by 2026, at a CAGR of 19.0% from 2021 to 2026 2.
IoT is making vehicles smarter, more convenient, and efficient by connecting various components of the vehicle ecosystem. As demand for cheaper, safer, greener, and more comfortable travel increases, new automotive IoT use cases focused on optimising a vehicle’s operation and maintenance and enhancing the in-vehicle experience are steadily rising. So what are customers looking for and how will it shape the next wave of innovation?
Automotive IoT enables vehicle-to-everything (V2X) communication that allows vehicles on the road to communicate data to other vehicles, the road and traffic infrastructure, pedestrians, other devices, and the network. On one hand, this real-time sharing of information improves situational awareness and helps save lives, time, fuel, and the environment. On the other, it allows for real-time vehicle monitoring to optimise performance. Here’s how:
● Data on traffic lights can facilitate smooth traffic flow and reduce carbon emissions.
● Information on weather, road, and traffic conditions will alert drivers and allow them to make real-time route adjustments.
● Data on proximity with other cars or pedestrians will help the driver to avoid mishaps.
● Communication with other devices will facilitate in-vehicle streaming of calls, videos, music, and gaming.
● Data on different auto parts will help automakers with predictive diagnostics and maintenance.
The more connected a vehicle gets, the more easily it will be able to deliver personalised services and experiences to drivers.
Connecting a vehicle to its ecosystem and delivering personalised services will require large volumes of data from disparate systems and devices to be securely collected, transmitted, stored, and analysed. Three key technological building blocks are required for this – data and cloud platforms to collect, transmit, and store data; IoT connectivity platforms to link devices to the cloud; and analytics platforms to make sense of the data. OEMs will need to carefully evaluate which technological building blocks to develop in-house and which to develop through partnerships. Here are three things to keep in mind while selecting a partner:
Successfully navigating the connected vehicles space requires forging the right partnerships. Singtel is uniquely qualified to handle the massive volume of connections required in connected vehicles with our extensive, power-efficient, and flexible networks. With close ties across countries within the APAC region, we function as an effective point of delivery for all your network connectivity needs. As a founding member of Bridge Alliance, an ecosystem of leading mobile network operators in APAC, we believe in the benefits of collaboration. Our enterprise and technology partnerships, along with the dynamic ecosystem of market leaders and innovators in the Bridge Alliance, enable us to support a fully integrated connected vehicle experience.
Want to learn how we can help you harness the power of IoT-enabled connected ecosystems? Contact us today.
1EPM and SBD Automotive, Experiences Per Mile 2030, 2021.
2Markets and Markets, Connected Car Market by Service, 2021.
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