Advances in the Internet of Things have provided promising opportunities in a multitude of industries—the transportation and automotive industry being key, where IoT has introduced game changing business models. By providing novel, multi-layered vehicular data using computing and IoT technology, we’re looking at a future that is bound to change the automotive industry forever.
According to the Society of Indian Automotive Manufacturers (SIAM), the Indian automotive sector is bound to achieve a turnover of USD 300 Billion clocking a CAGR of 15 percent. The first phase of Automotive Mission Plan (AMP) announced in 2006, extending to the next decade was focused mainly on economic growth, sustainability, and cost competitiveness. But the second AMP (2016-2026) includes a strong focus on integrated systems, new designs, and engineering capabilities. It is bound to create millions of new jobs going forward. It is directly aligned with the Make in India initiative and promises to position India as the third largest automotive market in the world.
In the automotive sector, IoT has the promise to change all businesses whether it is an OEM and Connected Car Manufacturer or a Fleet Management company. This wave is coming sooner than one can expect. Watch out for a lot more in the time to come. We at Unlimit will empower all the OEMs with the right tools which would allow the end user to reap the benefits of IoT.
All the big OEMs are already knocking on the door as they see one of the most promising markets in the world in India. If they want to move their manufacturing units in India, they would get access to cheaper land, strong consumerism, and a very talented IT workforce at desirable rate. Read more.