{"id":27414,"date":"2020-09-29T12:23:25","date_gmt":"2020-09-29T10:23:25","guid":{"rendered":"https:\/\/www.intellias.com\/?p=27414"},"modified":"2023-08-21T10:05:28","modified_gmt":"2023-08-21T08:05:28","slug":"automotive-industry-internet-of-vehicles","status":"publish","type":"blog","link":"https:\/\/intellias.com\/automotive-industry-internet-of-vehicles\/","title":{"rendered":"Is the Automotive Industry Ready for the Internet of Vehicles?"},"content":{"rendered":"
The Internet of Things has spread to many industries, and new concepts have emerged from the unique blends of IoT technologies in certain fields. These are the harbingers of Industry 4.0, and the Internet of Vehicles (IoV) will be at the forefront of it. The Internet of Vehicles\u2019 future seems bright and profitable, promising enhanced road safety, reduced environmental impact, efficient use of space, and cost management. But is that the reality? What lies under the surface of this concept? Let\u2019s dive deeper.<\/p>\n
In this article, you\u2019ll learn:<\/b><\/p>\n The Internet of Vehicles is a network of connected cars, smartphones and wearables, roadside units, and a network of networks. The Internet of Vehicles relies on vehicle-to-vehicle (V2V), vehicle-to-human (V2H), and vehicle-to-infrastructure (V2I) connectivity. With IoV, every vehicle serves as a hub for both people and various IoT devices that are part of the traffic infrastructure. It influences transportation, manufacturing, energy, software, and other sectors.<\/p>\n IoV consists of hardware, software, services, and various network technologies, from Bluetooth and cellular to Wi-Fi and 5G, as well as different types of communication (V2V, V2X, etc.). There\u2019s a lot of potential for OEMs, technology providers, mobile operators, and component vendors to claim their slice of the IoV pie. The global IoV market is estimated<\/a> to grow at a CAGR of 18% from 2018 to 2024, reaching $208 million. Some governments \u2014 for instance, the Chinese government \u2014 are supporting the development of IoV technology. China is now one of the most important automotive markets in the world:\n
What is the Internet of Vehicles (IoV)?<\/h2>\n
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