The connected vehicle is the most important automotive innovation in a generation. But we’re also seeing an overhaul of the entire automotive ecosystem that’s changing the way we think about transport.
Connected cars
For today’s drivers, IoT connected vehicle features like navigation and in-car Wi-Fi are at the top of the wishlist. And for manufacturers, connected cars are an unmissable opportunity to create deeper, more profitable relationships with these customers.
The connected vehicle encompasses many different value-added services — for instance, monthly infotainment subscriptions, maintenance alerts that push drivers back to the dealership, and stolen vehicle recovery. And the demand for these vehicles isn’t likely to stop growing any time soon. It’s estimated that over 380 million connected cars will be on the road by 2021.
Commercial fleet management
Commercial fleet operators — whether they’re running company cars, delivery vans, buses, taxis or trucks — are being squeezed from all sides. Factors include driver shortages, high running costs and increased customer expectations.
By adopting an IoT fleet management system that tracks how and where vehicles are being driven, operators can improve vehicle and driver utilisation, prevent breakdowns and theft, reduce accidents and insurance premiums, cut running costs through route optimisation, and even improve customer service by giving the public better access to travel information.
Usage-based insurance
Usage-based insurance (UBI) is creating the potential for manufacturers to build relationships with insurers to offer drivers a more complete service.
