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The IoT Catalyst: Transportation Industry Poised to Experience Complete Change

For most individuals, the Internet of Things (IoT) is what connects us through our consumer applications. It consists of our fitness trackers, our smart televisions, and our smart thermostats, all of which are interconnected with one another and all of which relay data and information across the internet to where and when we need it. But when we look away from our electronic gadgets and towards the transportation industry, IoT hasn’t really become prevalent.

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Although it has been present in our vehicle’s dashboards and interconnected applications, it hasn’t completely disrupted or impacted our view and use of private and public vehicle transportation. This is changing, however, as IoT powered connected automotive and transportation is expected to take off as more and more cities race to discover and digitize new ways to make our cities smarter and safer. With this on the horizon, the coming changes we will see the transportation industry take on will be exciting and noteworthy both for consumers and manufacturers alike.

Wait, So What Is IoT and Why Is It Making Waves?

According to Forbes, the Internet of Things (IoT) technology is the simple concept of connecting any device with an on or off switch to the internet and thus to one another. This creates a giant network of connected “things” or items that interact with one another on a people to people, people to things, and things to things basis. These items can be anything, from electronic gadgets like our smartphones, headphones, and wearable devices to larger items like our washing machines or the computer operated drills of oil rigs. When these devices use sensors, processors, and communication tactics to collect, send and act on the data that they acquire from the environment around them, we get the connected network.

Read More: Cost to develop IoT based Vehicle Health Diagnostic Solution

The Internet of Things (IoT) is making waves, so to speak, because with billions of devices connected to and talking with one another, we get a future that has a high potential to be safer, efficient, and more effective. We can see this on a small scale; if your vehicle knows that the route you are taking is going to make you late because of heavy traffic, it can send a text to notify whom you are meeting of the issue or your alarm clock can wake you up, turn on the lights, and send a signal to your coffee maker to boot up. On a large scale, we see the impact with smart cities, which are helping us reduce waste, improve the efficiency of our energy use, and make roads less congested. This solution is often known as smart route management. The reality of it is, IoT allows for an endless stream of opportunities to arise and it’s only going to continue to disrupt and completely change the industries we are familiar with.

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How Will It Impact The Transportation Industry?

1. It Will Change How We See Vehicle Health

We are moving towards a future that will have self-driving cars and autonomous vehicles and while it’s amazing that this is in our future, it doesn’t mean that vehicle health will also become autonomous. In order to ensure that the roads are safe, tracking a vehicle’s health will become critical. As part of the vehicle’s own ecosystem, an IoT service will be built-in that will monitor and perform real-time inspections so that if any problems arise, a mechanic or the passengers within the vehicle (as well as other vehicles on the road) are notified. This type of IoT ecosystem could monitor the vehicle’s overall performance, braking capability, speed, fuel efficiency, and even age.

2. Transportation Safety Will Become a Whole Lot Smarter

One of the more common ideas behind how IoT will change the face of transportation is through a vehicle’s ability to communicate with one another in real-time. By using smart sensors, any type of car, truck, subway, monorail, or bus could alert other vehicles around them of dangerous hazards such as oncoming traffic accidents, traffic delays and jams, or reckless drivers. It could even help drivers who are having a medical emergency such as a heart attack or stroke, help those who are impaired or even those who have fallen asleep at the wheel. The drastic improvement that IoT would bring to public and private transportation in the safety realm is massive with the United States Department of Transportation noting it could reduce “up to 80 percent of crashes”.

3. We Will Become More Efficient Travellers

Despite the fact that we have GPS navigation systems and maps to tell us where to go and what the fastest route is, most of us still spend hours sitting in traffic. An IoT system could better utilize our existing options and provide us with real-time data on traffic jams, accidents, closed roads, and public transportation schedules. This will enhance how quickly and efficiently we travel.

4. Geo-fencing Will Make Shipment Management Easier

When it comes to managing a small or large fleet of trucks, it can be hard to keep track of where they all are, whether they have arrived at their destination and whether they have been successful in their delivery. With geo-fencing software and IoT systems built into the trucks, a fleet manager will always be able to know where any given vehicle is at all times and if they leave the geo-fenced area, they will get an alert. This is good because it can help you keep track of drivers and trucks, prevent vehicle theft, keep track of worked hours for payroll, and create automated workflows.

5. Public Transportation Could Become More Personalized

As of right now, knowing whether your train or bus is going to arrive on time and where it says it will be on the schedule is frustrating. An IoT ecosystem built into the public transportation vehicles can allow for real-time tracking which would ensure that the public fleet is more efficient and that passengers know where their train or bus is at all times. Each individual could receive personalized information about delays that could be affecting their commute.

Read More: IoT solution enables fleet tracking

It is without a doubt that the opportunities that IoT brings to the transportation industry, is going to make both private and public transportation more efficient, cleaner, and more comfortable for everyone using it. By being able to monitor vehicles in real-time, being alerted to safety hazards, and be able to predict the arrival of our destination with pinpoint accuracy, we can truly re-define the comfort, ease-of-use, and effectiveness that transportation brings us.

If you are having a transportation business and looking to enhance the day-to-day working operations with the help of custom IoT solutions, choosing Let’s Nurture is a no brainer.

Hire IoT developers from us who are experts in delivering AI-ML based analytics solutions that helps in predictive maintenance of the fleet of vehicles, known as Smart Fleet Management solutions. We also have worked on OBD-II based vehicle diagnostic system that offers multiple features for fleet owners as well as individuals which enables users to track remote driving behaviour with real-time tracking.

Get in touch with our IoT experts and business consultants for a FREE initial consultation to know more about custom transportation solutions which can take your transport business to the next level.

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How IoT & Blockchain will impact Automobile After-sales Industry

Cars of 21st century represent not only a mode of transportation, but they also present innovations and technology on wheels.

We are living in an era of technology and solutions all around us. As v12data reports that the global automotive aftermarket industry is expected to reach $722.8 billion by 2020, we are having a look upon two the most popular technologies- IoT & Blockchain. Leveraging IoT and Blockchain, let us have a look at the diverse solutions and applications which can be implemented for automobile after-sales market to enhance operations, better quality of service (QoS) while decreasing the overall costs.

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Need of Robust Solutions for Tech filled Automobile Industry

The automobile industry is enormous with multiple segments ranging from manufacturers, dealers, service centers, auto finance companies, OEMs and retailers of auto parts and so on.

The grueling thing is that these segments are poorly integrated due to a lack of ecosystem resulting in operational inefficiencies from shop to the top and the costs incurred are being beared by the car owners along with ride-sharing users as a whole. This created a lack of trust and transparency in the used car market. Also, the grey market in automobile after-sales segment selling fake products is huge and car owners are bearing this pain.

The automotive industry is one of the world’s most technologically advanced production sectors, and its associated markets are incredibly broad, ranging from vehicle sales to auto insurance to car repairs, and the list goes on and on. However, these markets are still highly segregated, leaving the participants to deal with extreme inefficiencies that lead to excess operating costs and inflated prices.

IoT solutions for automobile after-sales market

Emergence IoT technology has brought us to a stage where seamless solutions are being built around multiple industries. Automobile after-sales is no isolation in this regards too. IoT based solutions have transformed not only cars to Smart Cars, but also have resulted in an ultimate shift in transforming garages to go ‘Smart’. Hence, let us have a look at how IoT has impacted the after-sales market with Smart automotive solutions.

IoT based Remote Diagnostic Solution for Garages

A garage or service center is at the core of the automobile after-sales market. The problems of the conventional garages are to wait for the customers, lack of visibility, identification of the problem before finding the solutions resulting in decreased efficiency.

Leveraging IoT app development, garage owners can have their records for their registered customers and track the device if the customer agrees to share some personal bit of information about the cars. By building custom garage apps, the service stations can digitally record vehicle maintenance data for future reference. This saves a lot of time while diagnosing the vehicle in the future.

IoT based solution for Insurance Companies

When a user installs a tracking device into OBD ports of their cars, it sends data. What data, you may ask? Well, whatever information your insurance company deems relevant to determining whether or not you’re a good driver. This data is sent back to your insurance provider.

Read more: How Installing OBD Devices like KarConnect can improve your car insurance premium?

Based on the improved driving behavior and data carried out from the predictive analysis on preventive maintenance, insurance companies can attract their customers with some improved plans or reward points to make them loyal to an auto insurance policy.

Blockchain Technology for Automobile after-sales market

Blockchain has been prolific due to its following benefits:

  • unparalleled security
  • execution speed
  • transparency
  • cost reduction
  • ability to audit records
  • Versatility

Automated Digital Vehicle Maintenance Book for Authorised Service Centers

The first prototype of vehicle maintenance book is announced by Renault last year, in conjunction with Microsoft and consulting company called VISEO. For second-hand cars market, it will cater automated automobile transactions with complete transparency and security as owners and dealers share vehicle history with the potential buyers. This system can also be used by the insurance companies to set rates accordingly to offer a monitored auto insurance policy to their own customers.

Blockchain facilitates Autonomous Ride Sharing

On-demand taxi booking and ride-sharing applications like Uber and Lyft are bringing more innovations to change the way of vehicles being used. Leveraging Blockchain development, this can turn to reality. Tesseract is the Blockchain System launched by Ernst & Young in 2017. This facilitates autonomous sharing of not only the rides but also vehicle ownership. This can be a perfect solution for the fleet management companies to manage the entire autonomous fleet of vehicles. The payments will automatically settle by the system with utmost transparency.

Blockchain Automates Controlled Interactions

Imagine a car could advise the drivers about the need for a repair. Sounds like IoT, right? Yes, it does. However, by the implementation of blockchain ecosystem, this platform can be taken to the next level. Leveraging blockchain technology, drivers can contact remote users of the blockchain ecosystem for updates, nearby suppliers for remote part availability, negotiations in pricing. Even garage owners and service centers can be contacted to fix appointments for service repairs the following access to make payments.

There are millions of devices in the automotive industry communicating with each other and hence, a shared database platform is needed where all this information can be stored in the most secured manner with control over the accessibility.

Blockchain as an Add-On to Vehicle Infotainment Systems

From the car owners point of view, everyone is attracted to the innovations which are pitching in to enhance the driving experience. Today, vehicle infotainment systems can be considered on the same level as the home entertainment systems. Even technology applications like Apple’s CarPlay can do everything that an iPhone does.

Blockchain can be an amazing add-on to infotainment segment in this scenario. Leveraging Blockchain, due to its reliability and transparency in transactions, users can make secured in-car payments instantly for the media content and other services they wish to have.

What the Future Holds with such Technologies?

IoT and Blockchain solutions can stage endless possibilities ranging from a safer and eco-friendly driving behavior, enhanced and favorable auto insurance policies, remote locking and unlocking of the vehicles and more. I am sure the limit is not up to what I have discussed through this blog.

Are you looking for best IoT services and Blockchain solutions? Let’s start a new project together.

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TOP 5 Internet of Things (IoT) Predictions for 2019

According to Statista, More than 23.14 billion devices are connected globally through IoT technology. It is also a big thing that IoT solutions will drive $344 billion in revenues globally while cutting down costs up to $177 billion.

“Smart”– this word has somewhat changed the existence of the actual way in which it was used before, at least in the engineering and networking communities. From gadgets to the place we are living and our daily necessities, everything around is just going ‘Smart’. This can be considered as the success of the Internet of Things (IoT) technology and solutions.

Exponential Growth of IoT across Industries:

The growth of IoT applications and IoT solutions has been magnificent globally throughout the years. Businesses in multiple industry domains have had reaped rewards by increasing revenues, simplifying the business process and by cutting the fixed -variable costs to a certain extent on permanent bases.

For the healthcare industry, IoT based Smart healthcare solutions include remote monitoring, smart sensors and medical device integration to a custom IoT mobile application leveraging custom mobile app development services. Life sciences and IoT Application in Healthcare are expected to grow to $1.335T in 2020, amounting to 17% CAGR as per Google.

Industrial Internet of Things (IIoT) has been a huge success in the manufacturing industry to automate multiple devices and processes to gather real-time data with robust security and make predictive analysis for better decision making. IoT usage in Industrial manufacturing is projected to grow from 2014’s $472B to $890B in 2020. Let us have a look at the Top 5 Predictions for IoT based solutions for various industries.

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TOP 5 Internet of Things (IoT) Predictions for 2019:

1. Virtual Try-On (Magic Mirror) set to penetrate Retail Industry:

One of the most advanced IoT based solutions set to dominate the retail industry is the Smart mirror or Magic mirror. A virtual try-on solution for the in-store customers to try products (clothes, cosmetics,etc.) and see their appearance by standing right in front of a mirror powered with Raspberry Pi Web camera, LED Monitor covered with a sheet of the reflective one-way mirror provides interaction. Using Sensors, the Smart Mirror interacts with the user through gesture/ touch and responds to them adequately.

Implementation of technologies like AI, RFID, display technologies and IoT app development will make it a Smart Mirror. It is an interactive touch-free device that will address the need of accessing up-to-date information required by the user.

2. Comprehensive growth in Smart Home Automation:

Imagine having a fridge so smart that it can order food for you when you run out of things. A refrigerator that can tell you what to make based on ingredients that you have. Or a fridge that lets you know that you forgot to shut the door. Remotely. Through an app on your mobile device!

Smart home automation concept is leading the line to get implemented as giants in electric appliances like Phillips and Syska have implemented ‘Smart lights’ which can be controlled through an Android or iOS mobile application.

With the invention of Smart Speakers like Google Home, Amazon Echo Dot leveraging Amazon Alexa Skills development and HomePod leveraging voice-assistant technology, the home automation has been brought to a whole new level to enhance the living experience.

3. Acceleration in the implementation of Smart Neighbourhoods:

Smart home automation is another big upgrade brought in the real estate industry leveraging IoT technology. Sure Smart homes and Smart building have been mastered, the next step towards accomplishing the dream of Smart City would be to implement a solution called ‘Smart Neighbourhood’. The goal is to create a place to live in which can be safe and in the utmost hygienic conditions. This is a concept as of now that is predicted to get materialized during the next year.

By using smart sensors which will sense, record and transfer every bit of activity like walking routes, shared car use, building occupancy, sewage flow, and temperature choice at all times to ensure maintaining the best possible conditions in the neighbourhood. The smart neighbourhood is a significant concept to turn a dream called ‘Smart City’ into a reality.

4. The growth of IoT based Smart Healthcare Solutions:

Research firm Berg predicts that by 2021 there will be 50.2 million people remotely monitored using connected healthcare devices compared to 7.1 million in 2016.

Smart hospital and IoT based Smart healthcare solutions have started gaining popularity in the healthcare market during this year.

Many IoT based healthcare solutions like smart pills, smart home care, personal healthcare management, IoT based mobile solutions for health and fitness, enhanced patient care management, smart inventory management, secure and sensitive data management have been invented. These smart solutions have the potential to deeply penetrate the healthcare industry inside-out during the year 2019. In one statement, IoT has brought healthcare home for the people.

5. Connected Cars will own the roads in 2019:

An automobile is an industry in which IoT has been delivering solutions for a few good years now. Self-driven cars concept running in certain areas of USA is a result of smart IoT sensors which automates the whole driving experience for passengers. The potential of IoT for automobiles does not limit here. More predictions and opportunities are coming under the microscope which can happen actually during 2019.

Leveraging custom IoT application development which can work with hardware to build a remote diagnostic system will be the heart of all the vehicles. The cars will be talking to your virtually via mobile applications about their health and other parameters. Even remote tracking in real-time can be implemented for monitoring driving behavior. Sensors can be used to measure fuel levels, tyre pressure, fault codes, etc. Custom features like nearby roadside assistance, restaurants, gas stations, hospitals, etc. can be shown through Google map or MapKit through JavaScript API integration.