Internet of Things (IoT) solutions have crept into just about every industry and corner of the world. Even the simplest of technologies, such as your vacuum, now have the capability to provide smartphone connectivity. But for the automotive industry, connected vehicle technology is driving a safer, more connected future while fueling a multi-billion-dollar movement.
Connected cars are a result of the convergence of evolving technology and network communications. The connected car’s role in IoT is significant, bridging together the key elements of the driving experience: comfort, convenience, performance, safety, and security. Here are five ways the automotive industry can leverage connected vehicle technology in their day-to-day operations.
Smartphone integration is everywhere, and the trend isn’t stopping at cars. For new auto dealerships and drivers, this technology is proving to be beneficial for all parties involved. IoT allows data to be exchanged between the dealer and the car owner directly through smartphone applications. Drivers can make maintenance decisions in real-time through any mobile device while improving vehicle longevity. Additionally, dealerships and owners can obtain vehicle insights directly via smartphone, as the connected vehicle technology allows both the dealer and driver to be together in one network through easily transferable data.
One of the most promising aspects of automotive IoT is predictive maintenance. Typically, there are two approaches when it comes to car maintenance: predictive and preventative. With preventative maintenance, car owners use preventative measures such as routine oil changes and service inspections to prolong the health and longevity of their vehicle. However, IoT solutions are proving to be promising for the automotive service sector. With connected car technology, systems can monitor vehicle diagnostics. As a result, this data can inform a driver when service is needed as well as dealership service centers who can then send personalized maintenance requests.
Driver and Vehicle Monitoring
Data collected from connected vehicle technology can be used to aggregate insights regarding driving styles, location tracking, and more. For example, mobile applications, such as Elo GPS, provide alerts when your vehicle is being driven over a designated speed limit, or if it leaves a set geographic perimeter. This data is especially useful for parents monitoring teen driving styles or loved ones wanting insights into senior drivers. All this data is collected so that the system can predict the actions of the driver to provide additional protection while driving.
Fleet and Inventory Management
According to a Transparency Market Research report, companies such as IBM, Cisco, Intel, and AT&T are actively developing an IoT and automotive management network in order to get controlled data flows. This will allow for more control over the fleet and timely maintenance, or optimal calculation of the path. In addition to actively monitoring fleets, connected vehicle technology is helping monitor vehicles before they even hit the road. Inventory management software provides real-time insights for auto dealerships to monitor all of their assets across multiple locations. These advanced solutions are ensuring that inventory is managed throughout the entire vehicle lifecycle, from when it leaves the factory, to the lot, and the road.
In addition to RFID tags, GPS technology is transforming the state of car theft. Thanks to connected vehicle technology, it is easier than ever to relocate missing or stolen vehicles with real-time location tracking. This technology is allowing vehicles to be recovered sooner, saving millions in lost assets for new auto dealerships. For drivers, connected vehicle technology takes the pain out of car theft, ensuring a frictionless experience between the technology provider, law enforcement, and insurance companies.
Get Started with Connected Vehicle Technology
As one of the leading inventory management software in the nation, Elo GPS helps new auto dealerships and drivers take control of their valuable asset(s) through advanced GPS technology. To learn more about how you or your business can benefit from connected vehicle technology, get in touch with us to schedule a demo.