What will you try doing if you happen to get stuck in isolation with your car, a vehicle of course is a non-living thing and useless in such a situation. It can very well take you to places but the problem is you do not know where to proceed to. The bigger issue being that there’s no one available for any help. Though, vehicle industry these days has development tremendously but the luxury features alone will no more serve the purpose. The industry is going smarter as there is introduction of multiple technologies which cover aspects other than a smooth drive.
Newest technology in automobile-The Connected Cars:
The newest innovation in the automobile industry is named as the “Connected Cars” technology. This application will literally make all things possible by just using your car, activities like calling or receiving someone on phone, getting location navigation assistance and other advanced moments are now possible using the connected cars app. However, with this invention, the original equipment manufacturers (OEM”s) face a massive challenge of producing technologies which are trouble free. The technology is still in its premature stage as majority of countries haven’t been introduced and the plans are in the pipeline. Major telecom companies are in constant talks with popular car makers as both eyes highly potential markets which will prove as a massive money-spinner in the future.
Features of a connected cars:
The global shipments for the connected cars technology is expected reach $ 59.86 million units by the end of 2014 and the same is predicted to achieve a colossal number of $ 98.42 billion units by the close of 2018. This displays an incommunicable growth rate in the shortest possible period, just 4 years.
Wi-Fi and LTE (Long Term Evolution) technologies are the two most talked about automobile connectivity technologies which are doing rounds all over the globe. Popular auto makers are using these technologies vastly in all their models and this practice has turn these into a must have category today. In comparison, the Wi-FI tech is viewed as the cost-efficient alternative to LTE which runs on wireless4G technology, as it does not incur a data volume cost as it does. The availability of applications, content and services on the go is a big success and experts believe that up gradation charges of the same are going to bring in mass revenues as users are ready to pay for them if priced within the reach.
The connected car technology is largely connected to the smart phone applications which are in use in a wide range. The usage degree is expected to rise further as the number of applications discovered is going up on a daily basis. Renowned Telecom Company Nokia has recently launched a project worth $100 million, it is known as the smart car fund, and the company is interested in investing such a massive amount into the auto making industry eyeing the growth chances of specialized in connected and smart vehicle production.
Regions where the Industry is on a surge:
The industry is predicted to jump in growth by many bounds in the years to come; especially growing economies like India and China are likely to see an increase and thus the connected car services technology have potential markets in these nations. Giant car makers like Audi and General Motors have launched their projects of manufacturing connected car models. They eye a larger market and plan to widespread these models as they have a strong support from the telecom giant AT&T in building such products.
According to a report, India’s car market is growing at a tremendous rate as it presently has a density of 113 per1000. This in comparison to the developed nations is too low as the US, France and Germany post much healthy numbers-641,499 and 532. It is predicted that by the end of 2016, Indian car market is more likely to develop and overtake leading car manufacturing countries like Japan, Germany and Brazil to become the third largest car manufacturing economy.