Vehicle legislation and compliance to accelerate adoption of connected cars in India: EY Report
EY India report, ‘The car is connected now! But are we safe?’, highlights that GPS tracking, dash camera, telematics-based insurance and SOS services will drive the growth of an embedded form of connected car solutions.
Connected cars will find a potential market in India as an increase in vehicle legislation, and industry compliances are set to accelerate the adoption of connected features. According to the EY India report, ‘The car is connected now! But are we safe?’, highlights that GPS tracking, dash camera, telematics-based insurance and SOS services will drive the growth of an embedded form of connected car solutions.
It says connected cars are poised to become a common phenomenon in India in the near future. Their relevance in the next few years is bound to increase with the expected wide-scale adoption of EVs where connectivity features will help owners locate nearby charging stations and access telematics data. Technologies like telematics, connected, and autonomous vehicles will play a vital role in the transformation. The cellular segment is expected to dominate the connected car market in India, says the report.
Vinay Raghunath, EY India Partner and Automotive Sector leader, pointed out that by investing in the next wave of state-of-the-art connected technology, original equipment manufacturers (OEMs) have an opportunity to strengthen their customer value proposition and meet some of the ever-changing buyer preferences. He explained that with the cost of deploying some of these solutions becoming more viable, it forces OEM brands to incorporate connected features and cater to multiple customer segments.
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Over time, various connectivity solutions have been developed by car manufacturers and service providers, such as the machine-to-machine (M2M) connectivity platform, says the report. “OEMs must drive customer adoption to embrace the connected car opportunity. Focusing innovation on developing powerful and easy-to-use software and services will give OEMs the edge in sales, open new revenue streams and offer a direct relationship with customers. In regards to security, the report says connected cars are generating an increasing amount of data that is exchanged, processed and stored. And this leads to a rise in the number of attack vectors, making personal, financial and car data vulnerable and attractive to hackers. The main problem is remoting accessing the critical infrastructure of a highly connected car and comprising the safety of the vehicle and its passengers. The report explains as such vehicle manufacturers need to adopt cybersecurity approach that addresses hidden vulnerabilities too.