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Insurance Article

How will IoT Affect Cars?

June 19 2017
Cars interconnects to other devices

IoT will give rise to connected cars that can communicate with the occupants as well as the infrastructure around it

The noisiest buzzword in technology right now is IoT or Internet of Things. This three-letter word is the future, and simply means wirelessly connecting anything with an on/off button to the internet, including cars.

This connection to the internet will be crucial, as it’ll enable all ‘Things’ to capture data and communicate with each other, thus making them smart. In no other industry is IoT more apparent than in the automotive sector. The term “connected car” is frequently used and is altogether revolutionising the automotive landscape.

What Is a Connected Car?

It is a car that interconnects to other devices within itself, or to other devices outside the car. The connections present outside the car include homes, infrastructure, offices, and even other cars. There are two types of connected cars in the market today: embedded and tethered. Embedded cars have their own antenna and chipset, whereas tethered cars connect to the internet by using an external device: primarily, the user’s smartphone.

The connected car, though still in its nascent stage, is extremely complicated, and offers huge developmental potential for the many elements present inside, and even more outside of it. The on-board equipment that is likely to undergo the most radical changes is heads-up display, infotainment system, graphics accelerators and application processors. However, in the long term, the connected car will just be part of a fully connected transportation system.

What Is V2V and V2I Communication?

V2V or vehicle-to-vehicle communication is the wireless transmission of data between motor vehicles. This technology is seen as the successor to the current crop of active and passive safety systems found in today’s cars. The data relayed to other cars would contain essential information on speed, direction, and position.

Thus by computing this information, the vehicle becomes more aware of its surroundings and can take pre-emptive safety measures such as reducing speed or braking. This will also help cars to become smarter as they share information with each other for benefit of the user.

V2I or vehicle-to-infrastructure communication is the technology that allows cars to communicate with external systems like buildings, streetlights, cyclists, and pedestrians. This is a huge market, that is yet to be explored, and offers enormous opportunities as well as the promise of dramatically changing our daily lives.

Here is an example to help you understand. Assume a connected car is approaching a tollbooth. It connects remotely with the booth system and processes the payment for the toll automatically. As a driver, you will not be disturbed and will just have to drive through without doing anything. This sort of hassle-free and convenient transactions can be made possible with an infrastructure supporting V2I communication.

What Is the Next Step?

Once sufficient progress is made in V2V and V2I communication infrastructure, connected cars will reach their ultimate evolution – as autonomous cars. Studies say that the first autonomous cars should be on roads after 2025. Automakers are already testing autonomous technology on the streets. Google Self-Driving Car is a prime example. That car, equipped with sensors and self-learning software, is racking up test miles on Californian streets for many years now.

Self-driving cars are already making use of vehicle-to-vehicle communication as they interact with their surroundings and learn from every new situation encountered on the road. Once the art of autonomous driving is perfected, driverless cars without steering wheels will become the norm. Safety is one of the major reasons behind the push for self-driving cars, as 90% of all road accidents are attributed to driver error.

As of now, our roads are not safe and since there is time for autonomous cars to hit the road, the easiest way to protect yourself is through car insurance. Car insurance premiums are not high and there are various insurance policies on offer. With the use of an online insurance calculator, you’ll come to know exactly how much spending is needed to get that insurance cover.

Related Article:

When Cars Drive Themselves, How Car Insurance Gets Impacted?
The Future of Car Insurance - Digital, Predictive and Usage Based

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