Connect with us

Politics

The Role of IoT in Automotive Industry – ReadWrite

Published

on

Predictive maintenance In IOT


The Internet of Things (IoT) is one of the breakthroughs of the world. The applications of IoT can also be observed in the automotive industry. Like any other industry, this industry is also getting accustomed to the applications of IoT. Here we explain a few roles of IoT in the global automotive industry.

The overall investment in the automotive industry is only increasing. As per the latest predictions, this investment amount is expected to exceed $9960 million by 2025. In fact, by 2025, IoT will become an integral part of the designs of different car models.

If you’re still in doubt regarding the role of IoT in the automotive industry, it’s time you start learning.

1. Predictive maintenance

Car maintenance takes place in either preventive or predictive approaches. The predictive maintenance approach is more convenient. If you are previously aware of when your car may run out of fuel, then it’s easier to take action, and we cannot ignore the role of IoT here.

Achieving a predictive approach has become easier with the initiation of IoT. For example, by integrating IoT within a vehicle’s operating system, you can monitor different aspects of your car in real-time.

All the collected datasets can be utilized to predict how soon a car requires maintenance service.

Clearly, the integration of IoT helps your vehicle to stay in a much better situation.

2. Autonomous vehicle

Have you imagined how cool it would be if a vehicle could run on its own without any driver? Well, it would be great. Such a car is commonly known as an autonomous car.

A fully autonomous car has not been developed yet, but several manufacturers are in the process of launching one. Such a vehicle will be nothing less of a revolution. You must understand that the role of IoT is huge in manufacturing an autonomous vehicle.

In fact, semi-autonomous vehicles have already been in the market, and they help the drivers with activities like driving, parking, changing a lane, and so on. A semi-autonomous vehicle is much better at making spot-on decisions for your vehicle.

It is a proven fact that semi-autonomous vehicles can reduce the frequency of accidents to a large extent. That is because there’s hardly any room for human errors in such a vehicle. So you can clearly understand that the situation will get better with a fully autonomous vehicle.

3. Easy communication

Easy communication

This may sound new, but IoT can create easy communication between vehicles. This feature of IoT comes under the smart infrastructure category and is one of the most demanded technologies of the present era.

You may be confused regarding the aim of a vehicle to vehicle communication. So, let me help you out right here.

If two vehicles are connected, and information regarding route taken, speed, etc., are figured out, it is easier to stop any possibilities of accidents.

Under such a vehicle-to-vehicle communication, if two cars are accident-prone, both drivers will receive notifications about the possibilities, thanks to the role of IoT.

In fact, in a situation of urgency, the IoT system of your vehicle can take automated actions to stop an accident.

This communication, also known as V2V technology, can create the transport system of an entire city much smarter than it already is.

Also, autonomous vehicles are on their way to enter the market. So, if car owners are already accustomed to the V2V technology, it would be easier for them to adapt to autonomous vehicles.

4. Connectivity between car and smartphones

With IoT, you can integrate your car and smartphone. It is one of the best applications of IoT in the automotive industry. By connecting your car with your personal device, you can acquire three different types of facilities.

Firstly, predictive maintenance of your vehicle can improve a lot more with car and smartphone integration.

If you can get direct feedback regarding your vehicle through your smartphone, it would be easier for you to contact different technical service providers and get your car repaired. In some cases, you may even figure out about your car’s condition before it gets too serious. Such is the role of IoT here.

With IoT, real-time monitoring is also pretty easy. Moreover, with the help of IoT, exchanging necessary datasets between the car manufacturer brand and the buyer of a car has also become easier.

So, in many cases, the car manufacturer brand can also suggest the car owner regarding the vehicle’s maintenance from time to time.

The car owner or driver requires some perceptive information regarding the management of the car. With the smartphone and vehicle connection, you can manage your car through your smartphone, without any issues.

In that case, both vehicles and smartphones will be under the same network, and you can easily transfer datasets from one medium to another.

This is another major advantage of IoT integration in the automotive industry.

5. Monitoring driver’s activities

A driver is running the car, and it is necessary to keep the driver’s activities regularly. With IoT, it is possible to monitor the activities of a driver regularly. Furthermore, with IoT, collecting information related to driving style is easier.

Hence, the IoT system itself can predict how the driver is expected to approach an emergency, and accordingly, this system suggests driving protection tips for the driver as well. Let’s consider the example of car manufacturing brand Faurecia.

Faurecia had installed an active seat known as the wellness seat, where a driver’s heart rate will be under monitoring. That way, one can understand if the driver is under stress or lack of mental control. This way, one can stay alert from any future dangers.

6. Better security and surveillance

Better Security In IoT

In an IoT-connected car, different external sensors are used. These sensors are installed in the form of rear-view cameras along with your vehicle. This means the drivers are highly protected.

These external sensors can easily keep track of the traffic. To add to this, it is also possible to assure that there aren’t any driving risks involved in this context. Collisions are also detectable in advance.

7. In-vehicle telematics

Both Google and Apple, the two biggest tech giants of the world, are currently in the way of bringing in-vehicle telematics.

They’re collaborating with various car manufacturers for the same. In addition, Google has already launched apps like Google Maps, Google Assistant, etc., for a better automotive experience.

However, these apps have some limitations. At present, these apps only function if the user offers instructions and connects their smartphones with internet connectivity. While this is beneficial, it can become better with IoT connectivity.

In the future, it is expected that these apps can run autonomously without the users operating them.

Final Words

IoT is a disruptive technology that has already changed the way many sectors used to operate.

Now it’s time to transform the automotive sector. In this article, we have talked about the role of IoT in the automotive industry.

In our opinion, IoT integration is nothing less than a breakthrough for this industry. That day is not very far when IoT will rule the transport system of an entire nation. So, what are your thoughts?

If you have any inputs or questions you want to share, don’t forget to comment below. We’ll be in touch shortly.

Image Credits: inner article photos and top graphic provided by the author. thank you!

Akash Tripathi

Akash Tripathi

Akash Tripathi is a Digital Marketer at Top Mobile Tech. It is a blog where I cover all the tips & tricks related to Mobile and more related to tech. Stay connected to the rest of the world with Top Mobile Tech. We bring latest and critical news to your mobile and computer devices.

Politics

RUSSIA’S DEFAULT IS A REALITY AS GRACE MONTH IS OVER

Published

on

ValueWalk


Russia’s default has finally arrived on its sovereign debt in foreign currency for the first time in more than a century. Moscow has been unable to pay the interest on two bonds in dollars despite having enough foreign exchange reserves to do so. Investors assure that they have not received payment after the grace month.

Russia’s Default

Russia is showing the consequences of the sanctions the West has massively imposed on it after the war against Ukraine.

 

Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below!

For months, the country has managed to find ways and shortcuts to wade through the measures that tried to isolate the government of Vladimir Putin and make the country fall into technical default. In the end, the West has achieved its goal, albeit somewhat later than expected.

Although Russia had the capacity to meet this payment, leading economic indicators —the composite PMI sank in March and remain below 50, indicating that the economy is contracting— reveal that the country is facing one of the major economic crises of recent decades.

With double-digit inflation and several leading companies on the way out, Russia will face a deep recession and perhaps years of economic stagnation.

The one-month grace period expired on Sunday on around $100 million of trapped interest payments due May 27, a deadline that is considered an event of default if not paid in the correct currency, according to Bloomberg.

Data

Russia’s default is also backed by other data. The International Monetary Fund (IMF) reveals that the Russian Government had a debt of around $40 billion in hard currency at the end of 2021 —a relatively small amount.

Although the total foreign debt exceeds $470 billion, only part of that amount is in foreign currency and a smaller part is still a liability to the Russian Government.

This is a clear symptom of the rapid transformation that the country is facing, both financially and economically. Russia will have to go on without the foreign capital flows that have historically helped finance investments in emerging countries.

The nation’s Eurobonds have been trading on the secondary market at very low levels since early March, while the central bank’s foreign exchange reserves remain frozen. Russia’s largest banks are cut off from the global financial system, leaving the country in isolation.

Published First on ValueWalk. Read Here.

Image Credit: by Happy Donut; Pexels; Thank you!

Continue Reading

Politics

Take Inspiration From Trending and Successful eCommerce Businesses

Published

on

Take Inspiration From Trending and Successful eCommerce Businesses


Believe it or not, online shopping has become a massive trend nowadays, and its popularity is increasing daily. Of course, we were already in the era of digitalization, but this entire pandemic situation has made eCommerce industries flourish more than expected in the last few years.

Nowadays, everything is digitized as people buy food, groceries, cosmetics, clothes, and even electronic gadgets online. This digital revolution has made it easier for creative founders to convert their dreams and ideas into a waking reality.

Old ways and patterns of handling businesses are changing every day, and business owners need to adapt to the fluctuating market trends. And in this, some trending eCommerce businesses have taken this eCommerce industry to a whole new level. They are ruling and conquering like a boss.

Here in this blog, we will be discussing such inspiring eCommerce businesses. So, keep reading to find out more and cope for the better.

What are The Types of eCommerce Businesses?

E-commerce businesses are not limited to one particular business model. Instead, there are various sorts of eCommerce business models as per their business offerings. So have a look at some of the highly prevalent eCommerce models.

  • Business to Consumer (B2C): The process of selling from business to customer comes under B2C type E-commerce.
  • Business to Business (B2B): The buying and selling process between businesses comes under the B2B type of E-commerce.
  • Direct to Consumer(D2C): This new idea of selling directly to end customers without the involvement of any retailer comes under D2C type E-commerce.
  • Consumer to Consumer (C2C): Consumer-to-consumer sales on platforms like eBay, Etsy, Fiver, and many more come under C2C type E-commerce.
  • Consumer to Business (C2B): An individual selling their services to different businesses comes C2B type E-commerce.

Examples of Successful E-commerce Businesses

1. Warby Parker

Warby Parker is popularly known for producing designer, reliable and inexpensive frames for eyeglasses. An MBA student, Neil Blumenthal, and 3 of his friends launched this eCommerce company in 2010. They proposed the idea in 2008, and took nearly two years to implement.

Their idea of business was something very essential at that period because Luxottica (Another eyewear brand) was one of the few companies that used to sell designer and reliable frames, but they were costly as compared to Warby Parker.

Warby has a free try-on policy with free shipping and numerous return offers, and this is what the brand has adopted to stand out from the crowd and appeal to its customers.

2. Leesa

An online Mattress retailer is helping people sleep better and comforting their sleep cycle. The whole idea behind this business model was to help people realize the importance of sleep and how an adequate amount of sleep can increase their productivity and quality of life.

Their first-ever mattress was “Universal Adaptive feel.” It was so flexible that it could easily adjust to all body types.

The 100-night free trial policy worked well for their customers and made the business model a huge success. Leesa had traditional showrooms at first, but with time they also opened online stores.

3. Modcloth

ModCloth is an eCommerce company launched in 2002, selling women’s clothing worldwide. They sell fun and quirky clothes that are not so exclusive but are comfortable and budget-friendly.

Everything about their store is creative and exciting – which customers nowadays love. The copies describing their clothes are also fun to read because every product has a name and story behind it – now, this is something very catchy.

ModCloth became a brand within a few years of its launch because of its targeted marketing strategy. They know who their target audience is and what requirements they have. Knowing this has made their business reach exceptional heights within a short period of time.

4. Amazon

Mostly we know Amazon was launched in 1995 as an online bookstore and has been flourishing since then. Now amazon is not limited to books anymore because now it sells almost everything you can think of. From groceries to clothes and even jewelry, Amazon has it all.

Right now, Amazon is one of the largest eCommerce stores by revenue worldwide. Though amazon started with no competitors, now it has Walmart as one of its biggest competitors. Last year Amazon made a revenue of $470 billion.

Amazon has adopted a stellar marketing strategy, which is targeting the right customer and offering products at comparatively lower rates.

5. Shopify

Shopify is a SaaS (Software-as-a-service) company that provides all the tools needed by a business to run its eCommerce business smoothly. It helps them with website building, marketing, payment processing, financial tracking, and everything in between.

It is a tech infrastructure that supports more than 2 million merchants and various operations ranging from mom-and-pop businesses to global brands. Shopify made $389 million in revenue in 2016 to $4.6 billion in revenue in 2021.

The profitability of Spotify has been improving with time because, just like every SaaS business, it has also scaled up.

6. LARQ

LARQ is a business model that makes self-cleaning water bottles that are reusable, rechargeable, and also have some advanced features. For example, it has UVC technology used to eliminate viruses & bacteria from water bottles.

LARQ has the initiative to provide clean water to everyone. They also raised $1.7 million for the same. In addition, LARQ donates 1% of its earnings to help maintain clean water worldwide.

The product was so unique and exciting that it attracted numerous customers. As a result, many environmentalists and aware citizens switched to these LARQ bottles and saved their money from buying single-use water bottles.

7. Beer Cartel

Beer Cartel, as the name suggests, is Australia’s number one beer subscription service. It is said that some ideas sell themselves; the same was the case with this one.

Beer Cartel sells beers from all around the world to their subscribers at their doorstep. This online store gives people the freedom to select their unique beer bottles at a price better than traditional stores.

One of the significant reasons for Beer Cartel’s success is that they offer exclusive taste under budget. In addition, they have a wide range of varieties that keeps their customers interested and coming back.

8. Berlin Packaging

Berlin Packaging is well known for sourcing, designing, and even distributing containers and closures for companies like fortune and various family-owned startups.

They have always provided products at a lower cost to their customers to increase the overall efficiency of their enterprise. One interesting fact about it is that it is not a new startup; it is 80 years old, in fact. But Berlin Packaging has somehow still managed to bring their customers the latest and top-quality beer.

They started this eCommerce business model to keep up with the times, which worked out well for them.

9. Bonobos

With the introduction of eBay, Bonobos knew that the eCommerce business was getting more competitive with each passing day. So, they introduced a unique business model targeting only a super-specific audience.

This strategy of narrowing down to a particular audience helped them make loyal customers who also flourished their business in the long run. Bonobo’s success made everyone realize that focusing on the competition is not good for your business’s health.

They should focus on the value they provide to their customers, and they will reach greater heights of success.

10. TOMS

The name of the company seems fascinating, right? Well, so is their initiative. TOMS is an eCommerce company that sells its customers quality shoes that are reliable, comfortable, designer, and inexpensive.

What separates TOMS from other similar eCommerce is that with every transaction, they will help one in need. Yes! Not only this, but they also run various social media campaigns with hashtags like #withoutshoes and many more to stand out from the crowd.

Everything about their business model is catchy and interesting, making it easier for them to drive more traffic to their online shop.

What are the Biggest Benefits of eCommerce?

Shopping in the comfort of home: eCommerce has made shopping easier and more convenient for our customers. Buying and selling things is a child’s play nowadays. As a result, our purchases are simpler, faster, less time-consuming, and not so hectic.

Markets are globalized: Now, you can shop from anywhere around the world at the convenience of your home. The impact of eCommerce on the planet can easily be visible. There are no limitations or barriers to buying from a different state or country.

Building startups is not so expensive anymore! Yes, in this era of digitalization, anyone can set up their online store at a meager cost. In addition, the operating cost is minimal because both buyers and sellers are now digital.

Conclusion

Technologies are evolving rapidly because of this, eCommerce businesses have to see a lot of changes frequently.

If you have an eCommerce business that is not growing as expected, you must adapt to new business models that add value to your customer’s life and your e-commerce services (my business: krishaweb dot com).

Image Credit: Provided by the Author; Thank you!

Parth Pandya

“Nothing Is Impossible” – is a quote that guided me to climb up the toughest peak of my professional journey. Having a great zeal for excellence and ambitious nature to reach the peak, leads me uninterrupted to provide the best content to all the visitors. I like to read and share contents which are related to Technology Solution and Digital Marketing.

Continue Reading

Politics

What Does the G7 Russian Gold Ban Mean for Gold Stocks?

Published

on

Gold Ban Mean for Stocks?


The G7 plans to announce a ban on Russian gold imports. But does that really matter for investors? While there hadn’t been an official Russian gold ban until now, this news isn’t exactly a surprise to the industry. Today, we’re seeing that lack of reaction in gold prices.

Typically, a ban on imports for a particular commodity sends prices soaring higher. Just look at what happened to oil after Russia invaded Ukraine. As it pertains to gold, prices also initially ticked higher this morning, with the futures opening up by under 1%.

However, it has now turned lower on the day, as have the VanEck Gold Miners ETF (NYSEARCA:GDX) and the VanEck Gold Miners ETF (NYSEARCA:GDXJ).

Does the Russian Gold Ban Matter?

This latest decision does matter. However, it will have a limited impact on the global gold market and gold-mining stocks. Warren Patterson, Head of Commodities Strategy at ING Groep NV (NYSE:ING), had the following to say:

“The impact from a ban on Russian gold imports by G-7 nations is likely to be fairly limited, given that the industry already took steps to restrict Russian gold […]It looks as though its largely symbolic.”

Russia has the world’s fifth-largest gold stash according to the World Gold Council. However, it only exported roughly 5% of the world’s gold supply in 2020. A bulk of those exports — over 90% — went to the United Kingdom, a G7 member. Still, Russia will likely find buyers in China and India.

In actuality, the buying pool may shift, but it will not completely evaporate.

How Does This Affect Gold Stocks?

At this point, the ban does not seem to have much of an impact on gold stocks. There’s multiple reasons why this is the case.

  1. The industry seems to have largely prepped for such a ban.
  2. Russia is not that large of an exporter of gold.
  3. The efforts from central banks to raise interest rates and strengthen currencies is likely playing a more important role in regards to precious metal prices.

Ultimately, a Russian gold ban certainly doesn’t hurt gold prices — if anything, less supply is a bullish catalyst — but right now that catalyst is not reverberating through the market. However, removing Russian supply from the market will be a modest positive for gold miners.

Published First: InvestorPlace. Read Here.

Image Credit: by Pixabay; Pexels; Thank you!

Continue Reading

Copyright © 2021 Seminole Press.