Indian Automobile Industry Moving Towards Internet of Things
The automobile industry in India has grown significantly over the past decade owing to rapid development within the field driven by innovative technology. According to data published by the Government of India, the Indian automobile sector is one of the major contributors to India’s GDP. While it currently contributes 6.7 percent to the overall GDP, it is expected to add up to 12 per cent by 2026.Apart from that, the automobile sector is also expected to be one of the biggest sectors to provide employment opportunities in the future. As stated by the Automotive Mission Plan 2006-16 under NSDC, more than 25 million jobs have been created within the automotive sector over the past decade, and over 10 million jobs are expected to be generated within the next five years, i.e. by 2022.
Furthermore, better access to basic amenities like food, clothing, & shelter led by a rise in disposable income, and growing demand for better transportation facilities is contributing to the growth of the Indian automobile sector. As per a report by Grant Thornton, rapid urbanization has been one of the most important reasons leading to the growth of the auto industry, with over 32 per cent of the population residing in urban regions. Thus, with rising income and low car penetration, it is apparent that India can offer substantial growth opportunities in auto & auto-component production, domestic consumption, and exports.
Another trend that is gradually gaining momentum in the Indian Automobile sector is the use of telematics to improve the efficiency and security aspects of a vehicle.
IoT driven Vehicular Telematics – Transforming automobiles for the better
With the increasing demand for automobiles, giving a boost to the overall automobile manufacturing industry in India, it is becoming progressively important to create highly efficient vehicles that care for both the car as well as its driver & co-passengers.
Telecommunications + Informatics, more commonly referred to as Telematics in the automotive sector, consist of comprehensive equipment that can offer a host of different features to create smarter vehicles. According to Roland Berger, a strategy consulting firm, the vehicle telematics market is globally valued at over $39 billion, and is expected to witness strong growth at 18 percent CAGR till 2022.
Although the telematics market is at a nascent stage in India, it is fast emerging as a must have technology in both commercial and personal vehicles. Some of the prominent factors that are contributing to its growth are:
Navigation – With people around the world becoming more connected day by day, it seems only natural that this concept is now being witnessed in the form of telematics for vehicles. Moreover, with increasingly complicated network of roads in metropolises leading to congestion and traffic, it has become important to have telematics systems that can help with GPS navigation, and provide real time updates on peak traffic hours.
Wireless Network Connectivity – One of the biggest advantages of vehicular telematics is its ability to connect cars and drivers via mobile technology. In India, the government has now begun to take necessary steps to build the perfect environment that can sustain the growth of Machine-to-Machine (M2M) and Internet of Things (IoT).
Diagnostics/Remote Data Management – Vehicular telematics allow service providers to collect valuable data about automobiles integrated with the system, and subsequently develop and provide customized services.
Safety & Security Against Theft – Many automobile manufacturers and auto component developers in India have begun to improve and upgrade safety and security features within vehicles via telematics. These systems are capable of eliminating car theft issues by tracking its location in real-time, and significantly reduce the response time.
What the future holds for IoT in Automobile industry?
As previously stated, the Indian government has begun to focus on the M2M+IoT space in a bid to make reliable, affordable, and secure telecommunication & broadband services easily available to all. It further plans to introduce various policies that can help improve GPS tracking, vehicle driver performance, and enable prevention of vehicle theft, among others.
Apart from that, some companies in India have disrupted the market with their one-of-a-kind products that offer sophisticated vehicle telematics solutions that can ensure better safety and threat elimination for both the owner and their vehicle. What’s more, by incorporating features like Impact-Alert Calling, Real-Time tracking, and Panic Button, certain vehicle telematics ventures in the IoT space are attempting to create an ecosystem which not only makes vehicles secure, but also promote responsible driving.
One of the biggest advantages of vehicular telematics is its ability to connect cars and drivers via mobile technology
Although the telematics market is at a nascent stage in India, it is fast emerging as a must have technology in both commercial and personal vehicles. Some of the prominent factors that are contributing to its growth are:
Navigation – With people around the world becoming more connected day by day, it seems only natural that this concept is now being witnessed in the form of telematics for vehicles. Moreover, with increasingly complicated network of roads in metropolises leading to congestion and traffic, it has become important to have telematics systems that can help with GPS navigation, and provide real time updates on peak traffic hours.
Wireless Network Connectivity – One of the biggest advantages of vehicular telematics is its ability to connect cars and drivers via mobile technology. In India, the government has now begun to take necessary steps to build the perfect environment that can sustain the growth of Machine-to-Machine (M2M) and Internet of Things (IoT).
Diagnostics/Remote Data Management – Vehicular telematics allow service providers to collect valuable data about automobiles integrated with the system, and subsequently develop and provide customized services.
Safety & Security Against Theft – Many automobile manufacturers and auto component developers in India have begun to improve and upgrade safety and security features within vehicles via telematics. These systems are capable of eliminating car theft issues by tracking its location in real-time, and significantly reduce the response time.
What the future holds for IoT in Automobile industry?
As previously stated, the Indian government has begun to focus on the M2M+IoT space in a bid to make reliable, affordable, and secure telecommunication & broadband services easily available to all. It further plans to introduce various policies that can help improve GPS tracking, vehicle driver performance, and enable prevention of vehicle theft, among others.
Apart from that, some companies in India have disrupted the market with their one-of-a-kind products that offer sophisticated vehicle telematics solutions that can ensure better safety and threat elimination for both the owner and their vehicle. What’s more, by incorporating features like Impact-Alert Calling, Real-Time tracking, and Panic Button, certain vehicle telematics ventures in the IoT space are attempting to create an ecosystem which not only makes vehicles secure, but also promote responsible driving.
