Let’s take a quick look at three major changes, both technological and functional, that the IoT will bring fairly soon for automakers.
In the Internet of Things (IoT), formerly unconnected devices are wirelessly linked to the Internet so that they can report and collect data or automate systems. It’s fairly clear that the IoT will soon be a multitrillion-dollar business, with estimates of its size reaching $11 trillion to $19 trillion a year by 2025, according to McKinsey and Cisco.
And one of the most important industries for IoT is the automotive market. Connected cars, autonomous driving systems, artificial intelligence, cloud computing, and a host of other technologies are driving huge changes for carmakers, and the IoT has a hand in them all.
By 2020, consultancy Gartner estimates that nearly 250 million cars will be connected to the Internet, and PriceWaterhouseCooper forecasts that the connected car market will be worth $149 billion by that year.
Let’s take a quick look at three major changes, both technological and functional, that the IoT will bring fairly soon for car companies:
1. It will bring driverless car ubiquity closer
Most carmakers are at least dabbling, if not directly tackling, semi-autonomous and autonomous vehicles. Advancements in sensors, on-board computers, cameras, and LIDAR (like radar, but with lasers!) have allowed automakers like Tesla Motors (NASDAQ:TSLA) to become a dominant force in this growing segment.
Tesla’s Autopilot feature is one of the most advanced semi-autonomous systems on the road, allowing the company’s vehicles to accelerate, decelerate, change lanes, merge with traffic, and overtake cars on their own. And the company’s recently added “summon” feature allows the Model S to move itself in and out of parking spaces and garages, without the owner behind the wheel.
But the IoT will take this even further by pairing on-board autonomous driving systems with powerful cloud computing technology. Chipmaker NVIDIA (NASDAQ:NVDA) recently released its DGX-1 supercomputer, that has the about same processing power as 250 x86 servers. The company says that when the supercomputer is paired with its Drive PX 2 on board autonomous system, it’ll bring deep learning artificial intelligence (which can learn more and adapt faster) to cars in ways current systems can’t match.
Click below to read the full article:
The Motley Fool
Author: Digital Dealer
Digital Dealer exists to help dealers and their managers sell more vehicles more profitably by creating the best live events and media in the industry.