The automobile industry can make use of data to improve vehicles, sustainability and profitability. Smart cars are the next generation of cars and data will assist in building these. Surveys have revealed that customers prefer cars with features that save time, ensure safety and sends warning alerts in case of malfunctions. In order to accomplish these needs, integration of technologies is required. Services based on car data can be introduced like sending a warning alert to replace car battery prior to its depletion. Smart infrastructure can be built by connecting roadside sensors, traffic signals and remote data centers to ensure a safe and smooth ride. Data can be analyzed to map travelling patterns by looking at how individuals behave in various road scenarios. Read more at: https://channels.theinnovationenterprise.com/articles/7719-what-smart-carmakers-can-learn-from-the-smart-phone-industry

Web-Connected devices that can talk to each other, transfer data, and carry out tasks without human interaction, are what make up the Internet of Things (IoT). These devices/ things are becoming popular among any firm looking for an edge. Generally IoT refers to devices in Consumer products such as Smart Phones, Smart cars etc. In Industrial sector these devices are used to build smart factories by integrating sensors and software to complex machinery. Growth of these devices will be very high as suggested by a report from Deloitte and there are only few firms working in IoT/Industrial Internet implying that there will be enormous opportunities for entrepreneurs in this sector.

As is the case with any budding technology, this area also faces challenges. Some of which are data security, addressing potential customers’ concerns about privacy, the lack of common standards between companies developing software for these devices; and the need to build physical infrastructure to support the collection and analysis of the data.Read more at: 

http://www.wamda.com/memakersge/2015/05/5-minute-guide-internet-of-things