The modern day automotive industry is home to technology innovation. Being at the intersection of technology and automobile, the industry today is focused on redefining the in-car experiences through greater connectivity and ease of communication. Enabled with a myriad digital interfaces inside the car ecosystem, the automotive is slowly morphing into a digital machine that can think and act on its own.
Relentless innovations coupled with the power of internet in the area of infotainment systems, advanced driver assistance systems (ADAS), and vehicle safety are allowing car customers to build greater customer service and new business models. As disparate digital systems in the vehicle give it a unique identity, car manufacturers and Tier 1 suppliers can leverage these identities to deliver unique experiences personalized to the user. From remote assistance for finding the nearest dealership to communicating with the insurance companies to strike a deal, the advanced telematics implemented within today’s automotive is allowing manufacturers to enhance digital engagement and create new channels to monetize the interactions.
All these movements are underpinned by the rise of IoT in the automotive space, which enables companies to deliver new experiences facilitated by the digital relationships established both within and outside the car environment. The burgeoning automotive IoT ecosystem can however inadvertently open backdoors to cyber attackers. To this end, companies are leveraging technology partnerships for securing user information, vehicle data, and systems.
At this juncture, Autotech Outlook assesses technology companies who are leading the automotive innovation through their strong partnerships with the car manufacturers and Tier 1 suppliers, enabling them to lead the change.
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