With technology advancing at breakneck speed, connectivity has become an integral part of every individual’s life. As a result, key players in the automotive industry have identified the growth potential and opportunities present in the connected car technology market. Connected car companies are striving to ensure real-time connectivity with friends and family and provide real-time location and trip history, which can be viewed from any mobile device, or smartphone. With the growing competition in the market, connected car technology companies must take a reality check and identify the roadblocks and challenges that need to be addressed.
#1 Challenge: Long Development Time and Short Product Lifecycle
Connected car technology companies require long development times to develop the software and hardware by keeping in mind the production costs and industrial competition. Since automobile manufacturers are plagued with challenges such as short vehicle life cycle, systems and applications have to be constantly improved. Thus, connected car technology companies must focus on developing software and hardware components that can adapt to future automobile upgrades.
#2 Challenge: Lack of Training for Car Dealerships
Connected car technology companies are well aware of the fact that the car dealerships need to spend more time with their customers and educate them about advanced technologies in their automotive vehicles. The solution to this roadblock is to invest in training, provide easy to understand manuals to the car dealers and make them more tech-savvy.
#3 Challenge: Security is a Big Threat for Connected Car Companies
With the recent cyber-security attacks that brought the global business to a halt, hacking a car is relatively easier for data thieves and cyber-hackers. When a hacker overtakes the vehicle or hacks the automobile software, he/she gains control over everything right from the car’s AC to the brakes and transmission. In order to overcome this roadblock, connected car technology companies must develop tamper proof software and hardware and encrypt all security codes to ensure complete automobile security.