Wireless technology and automotive electronics have grown and advanced to great degrees in recent years, enabling automobiles to offer additional functionalities beyond just traditional transport. Drivers today expect to have the same connectivity and experience when on the move as in their personal and professional lives, embrace an eco-friendly way of living, and improve vehicle safety and efficiency. To cater to these demands, a variety of solutions in the automotive industry are coming up such as vehicle-to-infrastructure communication (V2I) and vehicle-to-vehicle communication (V2V), which enable cars to constantly interact and exchange information with their surroundings. A car’s connection to its environment is a game changer that is growing by leaps and bounds. The game-changing concept is called a connected car, which is defined as a vehicle using mechatronics, artificial intelligence (AI) and telematics to communicate with the surrounding to offer greater comfort, safety, entertainment, and a connected life experience.
The trend of connected cars offers a great opportunity for companies in various domains, including OEM’s, automakers, and financial and insurance providers to generate new revenue streams, while providing a great experience to consumers. Eventually, the connected car market is growing steadily over the years. As per the report by Allied Market Research, the market is estimated to reach $225,158.0 million by 2025 from $63,026.0 million in 2017, registering a CAGR of 17.1% from 2018 to 2025.
Various developments have taken place in the space recently. Mitsubishi Electric Corporation, a Japanese multinational electronics and electrical equipment manufacturing company came up with a cyber defense technology that prevents connected vehicles from cyber-attacks. SMK Electronics Corporation U.S.A. a part of U.S. division of SMK Corporation and CAARESYS, an Israel-based startup technology company recently collaborated to develop a new line of biometric passenger sensors to be integrated into advanced motor generation systems. E.ON, an energy company recently bought a stake in Vinli, a connected car analytics startup. P97, a mobile commerce and digital marketing platform and Transaction Network Services (TNS), a multinational company in the payments, financial, and telecommunications industries, teamed up to enable more secure mobile and connected car payments.
Mitsubishi Reveals New Technology for Connected Cars
In February ’18, Mitsubishi introduced a multi-layered technology which can protect connected vehicles from cyber attacks by strengthening the defense capabilities of the head unit serves as the vehicle’s main link with the internet. Other security features that facilitate the protection include an intrusion detection system and a secure-boot technology that verifies software integrity during the boot process. The technology detects cyber-attacks which targets the control and head unit of the vehicle and reduces lead processing. It allows for faster and more secure boots that checks for the integrity of the vehicle’s software attached to the head unit.
SMK Electronics and CAARESYS Join Forces to Develop New Sensors
In February ’19, SMK Electronics and CAARESYS collaborated on the development of a new line of biometric detection sensors or inclusion in next-generation passenger occupancy systems. The sensors help to determine aspects such as the number of passengers in the car and if they are wearing seatbelts or not. The sensors are also able to recognize adults and children and monitor the heart and breath rate of every occupant in the car. According to Tetsuo Hara, the Executive Vice President of SMK, the automotive in-vehicle market is expected to grow fast with the coming of autonomous vehicles. Knowing about occupancy is essential, but to know and monitor passenger status through the use of biometric sensor technologies is also important.
E.ON Buys Stake in Vinli
E.ON recently bought a stake in Vinli, a company that runs the world’s first cloud-based platform for cars connected to the internet. The connected car platform that Vinli offers connects to a vehicle’s diagnostic port and provides both vehicle and non-vehicle data. This data assists companies and fleet owners to create new mobility services for the next era of the automotive industry. Moreover, by incorporating data from E.ON’s charging infrastructure, customers can take advantage of solutions made for electric fleets. According to Frank Meyer, Senior Vice President Innovation and Customer Solutions at E.ON, the information from the car enables them to close a gap in their data world for e-mobility. The combination of customer vehicle and network data helps them figure out trends well ahead and constantly create new digital mobility offerings for their customers. He also said that besides offering the benefit of competition, Vinli also makes for a prolific investment.
P97 and TNS Form Alliance
In February ’19, P97 and TNS announced forming a strategic alliance on secure mobile and connected car payments. Under the terms of the agreement, TNS offers P97 a managed tokenized service, which allows secure provisioning and payment authorization of consumer card-on-file accounts for mobile and in-vehicle applications. P97’s PetroZone platform is a solution that links retail fuel, convenience, quick-serve restaurants, and others to their consumers by allowing for payments and omnichannel digital offers on any device or connected car.