By: Sacheen Patil, Vice President & Global Head, IoT Practice & Embedded Systems CoE, Yash Technologies
We are living in an era of connectivity. The Fourth Industrial Revolution (Industry 4.0) will bring the concept of smart factories, connected cars, smart homes, smart cities, and many more to the forefront. This transformation is predicated on the availability of higher bandwidths and faster data, which 5G technology and networks can usher in. 5G networks will also be the next logical step in the evolution of embedded systems as these will enable devices to communicate 10X faster than the networks we use today.
The advent of 5G and IoT (the Internet of things) will significantly impact revenues, innovation and cost structures of several industry verticals, including automotive. 5G will reshape the automotive industry in several transformative ways with new models offering exciting/innovative features, better production processes, new business models, etc.
According to industry research by Gartner, by 2023, the automotive sector will be the most significant market opportunity for 5G IoT solutions, taking up more than half of the entire 5G IoT market representing 53% of the total 5G IoT endpoint market in that year. 5G will drive the connected car market and address key road safety concerns to usher in the next era of intelligent autonomous vehicles. The share of actively connected cars to a 5G service will grow from 15% in 2020 to 74% in 2023, reaching 94% in 2028.
Electric vehicles (EVs) will benefit immensely from the 5G push since better connectivity leads to better control, analysis and overall performance. EVs are already attracting heavy investments, with major ‘legacy’ brands on the way to launching pure or hybrid EVs. A significant increase in performance could be the final piece of the puzzle for manufacturers to turn EV production into the new normal.
The faster pace of launch and a higher return on investment would ensure that both consumers and manufacturers will move away willingly from fossil-fuel-powered assets. 5G will facilitate the use of infrastructure meant to support the deployment of EVs, such as recharge stations, monitoring battery levels better, finding charging stations more quickly, and identifying efficient routes faster.
Though reimagining the auto business is plausible with the advent of IoT and 5G, many facets are still unclear or unknown. Customers are likely to seek ‘connected computers on wheels’ rather than just a car for transportation, challenging manufacturers to redefine the factors influencing the purchase. There is the likelihood of significant emphasis on rider’s entertainment with in-vehicle apps, supported by a standardised 5G network. It would also compel manufacturers and OEMs to focus more on rider experience.
The scenarios mentioned in this article might progressively come to life and need to be supported by ambitious country or city-wide 5G deployment road maps. While I look forward to seeing how this materialises in the coming years and months, it sure sounds exciting.
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