The automobile industry is on the cusp of a technological revolution, and it’s all thanks to smart car technology. In just a few short years, vehicles are set to become smarter, more intelligent, and more connected than ever before. And the best part? With internet connectivity, many problems that once required a visit to the service center can now be fixed without ever leaving your driveway.
The Connected Car Market in India: A Growing Industry Worth Trillions
At the recent Connected, Autonomous and Electric Vehicle Expo in Bengaluru, over 60 domestic and foreign companies came together to showcase their latest innovations in IoT 4.0 and connectivity. According to statistics from 2022, India’s connected car market is already worth more than 95 thousand crore rupees, and with an annual growth rate of 21 percent, it’s expected to exceed 3 lakh crores within the next five years.
One of the most exciting developments in smart car technology is the installation of connecting devices in vehicles. These devices will notify the manufacturer and nearest dealer or service center of any issues with the vehicle, allowing for quick and efficient repairs. And, in many cases, vehicles will be able to fix minor problems on their own, or even debug themselves. This means no more wasted time sitting in a waiting room or on hold with customer service.
But that’s not all. Smart cars of the future will also have their own QR codes, making it easy to handle payments for things like EMI, toll tax, and maintenance fees. Loans will also be more accessible and affordable, as lending companies will be able to easily track the vehicle and offer lower interest rates. And, with the ability to connect to the internet and other devices, the possibilities for customization and personalization are endless.
In conclusion, the future of connected cars is bright and full of potential. As we continue to embrace smart car technology, the automobile industry will be forever changed, and the benefits to consumers will be immeasurable. So buckle up and get ready for a wild ride, because the smart car revolution is just getting started.
