Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
Time for a Digital Revolution in the Women’s Health Market
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
Investment in Real-time Analytics and Dynamic Supply Chain Tracking Will Increase OEM Smart Factory Penetration to 35% by 2025
save 25 %
* Required Fields
Pay by invoice
Industrial Internet of Things (IIoT) can be leveraged to transform the production aspect and future potential of the automotive manufacturing business. Though evolving technologies play a key role in fostering the automotive business, it is crucial that automotive manufacturers stay connected in order to amalgamate different technologies like machine learning, Big Data, sensor data, machine-to-machine communication, and automation. This will make the best use of IIoT, which would in turn result in gaining a competitive edge and open new revenue streams for the auto makers in the market. OEMs and suppliers can achieve significant operational cost benefits throughout the automotive value chain by adopting IIoT. Smart factories are anticipated to increase labor productivity, improve process efficiency, enable mass customization, identify value-add services and provide optimization opportunities for automotive manufacturers. Companies such as BMW, Audi and Daimler have significantly invested in digitization initiatives across different manufacturing process, right from design to vehicle production. OEMs are the primary adopters of Industry 4.0. However, automotive suppliers are trailing behind in adopting smart factories due to lack of leadership commitments, lack of understanding of potential use cases, and limited budget allocation. It is essential for automotive suppliers to catch up on digital initiatives; if not, additional expenses will be incurred at OEM production facilities, which would jeopardize benefits across the ecosystem. Suppliers should identify compelling business cases and demonstrate their value through pilot programs in order to attract funding and bridge the significant investment gap. Automakers need to adopt a multipronged approach to creating relevant business models that embrace IoT-enabled capabilities. In addition, maintaining and updating complex systems from in-house/remote locations, possible cyber attacks over the connected networks, adhering to standards of local networks for bandwidth and latency, maintaining process integrity and IP protection, and making immediate investments in evolving technologies are possible challenges to IIoT adoption in a manufacturing facility. However, continuous monitoring of transformation needs would help the automaker develop a proactive approach to overcoming these challenges.
Key Issues Addressed
Indian Automotive Electronics Growth Opportunities
Implication of CASE on Global Medium and Heavy Duty Commercial Vehicles Aftermarket Growth Opportunities
Global Urban Mobility Management and Data Intelligence Solutions Growth Opportunities
North America Plug-in Hybrid and Battery Electric Vehicles Aftermarket Growth Opportunities
Future of In-car Marketplace and Features on Demand—Europe, Voice of Customer, 2020
Global Bus Growth Opportunities
North American Wiper Blades Aftermarket Growth Opportunities
Indonesia Automotive Outlook, 2021
Global Last-mile Food and Grocery Delivery Growth Opportunities
GROWTH OPPORTUNITIES IN AI-BASED SOLUTIONS FOR VEHICLES, ELECTRIC VEHICLES, LCD, AND FUEL CELLS
smart lighting market
consumer drone market
solar panel market
composite materials market
agricultural drones market
packaged food industry
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.