The current state of global auto industry is undergoing a digital revolution. The industry is exploring powerful Automotive Business Models. The ACE mobility partners (Autonomous, Connected & Electric vehicles) have made way for a new world, attracting multi-billion-dollar investment by key automakers by 2025 and generating vast data streams, interconnected devices and the need for new-age services and solutions. The huge amounts of data further enable new business models and partnership opportunities for business in the automotive space, to extract value unlike any other.
Insights, derived from real-life and real-time connected vehicles, can be used to improve user experiences and make transportation convenient, ease congestion, improve road safety and fuel a myriad of other applications. While mobility intelligence remains a common denominator across all such data-driven functions, there lies a need for support technologies that’d accelerate adoption on a wider scale.
Strengthening synergies between data sources and future automotive business models, here are the 4 biggest trends that are supercharging the connected vehicle data technology.
1. Embedded Systems & Sensors
A key aspect of connected vehicle technology, that sets it apart from bulky hardware and complex processes, is the embedded system within the car itself, which turns the vehicle into a data-transmitting beacon. A majority of modern new vehicle sales in the United States today see factory-fitted modems and sensors, to prevent dependence on third-party and aftermarket devices.
Besides allowing for higher flexibility and targeted services within the end-to-end data process, embedded tech is also responsible for the collection of more accurate and precise data points, which was a major point of concern with the installation of OBD devices.
2. Automotive Business Models to Achieve true real-time visibility of vehicle data with Emergence of 5G
A robust connected vehicle infrastructure relies on a high-speed network that’s responsible for ‘connecting’ all the entities involved. While existing network technologies, namely 2G, 3G and 4G, cater to the current market demand, higher bandwidth and speeds will be crucial in determining far-reaching success going forward.
Data pipelines will be expected to manage ever-increasing data needs, up to 1-2 Tb of raw data per car, per day, and high-speed connectivity paired with the low latency bandwidth of 5G technology will play a big role in achieving true real-time visibility of vehicle data.
3. Over-the-Air Updates
Another important factor that’ll impact the long-term sustainability of connected vehicle data-based solutions is the growth of OTA (over-the-air) updates. Minimizing downtime significantly and updating the vehicle’s ECU (electronic control unit) without the need to head over to a dealer or service station, OTA updates also enhance user experience with constant upgrades to in-car apps and features.
The wireless updates further provide context to the data being captured by the vehicle, by communicating with various components and uploading fresh/new updates for engine performance, driver controls, infotainment systems, and much more.
4. Smart Cities
Lastly, innovative technology will require space in a future-ready and tech-friendly environment, that’ll not just align with the projected outcomes but will also sustain them till the next big event. As leading OEMs start offering connected features, such as ADAS, geo-fencing, live tracking, and more, the need for the next generation of smart cities becomes evident, that’ll be able to unlock the benefits behind such features and let consumers avail them.
Smart cities will essentially add an additional layer of convenience, information, and safety for data-based services, fostering the technology and encouraging the shift from conventional vehicles. And, thus deciphering a range of new use cases related to driver safety, traffic management, and improved efficiencies.
Tap into the Vehicle Data Opportunity with CEREBRUMX
Powered by a range of advanced data solutions and AI analysis, kick-start your connected vehicle data journey with CEREBRUMX. Take advantage of our AI-powered Augmented Deep Learning Platform (ADLP) to unlock the true value of vehicle data from millions of connected vehicles in real-time, and experience all the industry catalysts working on your side. With our AI-driven insights, you’ll be able to implement smarter traffic solutions and deliver a delightful experience to your customers, without the need to deploy complex infrastructure or extensive upfront investments. Simply build on your existing infrastructure by integrating with our fast and flexible APIs.
CEREBRUM believes in total consumer privacy and transparency when it comes to handling sensitive information. To ensure complete trust and uninterrupted business operations, we enable you to give the power back to the customers by letting them the grant, revoke or edit consents with our white-label platform, CEREBRUMX Secure Consent.
For more information regarding connected vehicle data and the evolving ecosystem around it, Contact us or reach out to our experts.