What opportunities will 5G bring to the Internet of Vehicles industry?

A few years ago, relevant government departments proposed to pay close attention to the revolutionary changes that the Internet has brought to the automotive industry. The Internet of Vehicles has brought a new "window of opportunity" to China's automotive industry. In the face of this window of opportunity, more and more companies have tried to catch the express train of the Internet of Vehicles in recent years. With the approach of the 5G era, the Internet of Vehicles industry may usher in an explosion.

At present, my country's Internet of Vehicles industry has entered a new stage of rapid development, with more active technological innovation, vigorous development of new applications, and continuous expansion of the industry scale. According to the "China Internet of Vehicles Industry Market Outlook and Investment Planning Analysis Report" compiled by the Forward-looking Industry Research Institute, the market size of the Internet of Vehicles is US$5.04 billion (about RMB 33 billion), and it is expected to reach US$33.82 billion (about RMB 220 billion) by 2020. The penetration rate of China's Internet of Vehicles has increased from 4.8% in 2016 to 18.1% in 2020; the number of Internet of Vehicles users will reach 44.1 million by 2020. A number of policies have pushed the Internet of Vehicles onto the right track.

Along with the increase in the number of cars, problems such as road congestion, environmental pollution, and insufficient public facilities have become increasingly prominent. The emergence of the Internet of Vehicles is of great significance to promoting the integration and upgrading of industries such as automobiles, transportation, and information and communications, and to the reshaping of the relevant industrial ecology and value chain system.

Current status of the Internet of Vehicles industry

As the most promising application field in the Internet of Things, although it has experienced a long period of development, the development of the Internet of Vehicles is relatively slow. Even with the support of national policies, it is difficult to develop rapidly due to many objective reasons.

The industry currently has several major problems:

(1) Low penetration rate. Although there is a broad market space, due to the fragmentation of the automotive industry, inconsistent standards, and the lack of killer applications, the penetration rate of the Internet of Vehicles has always been at a low level, and the functions are relatively simple and cannot reach the level of intelligence.

(2) The operation and profit model are complex. Diversified development is a good thing, but if there is no absolute core, then diversity will turn into chaos.

What opportunities will 5G bring to the Internet of Vehicles industry?

The first is the penetration rate. The emergence of 5G solves the speed and capacity issues of data transmission. Even the largest files can be transmitted within a few seconds. The accuracy of in-vehicle navigation will be greatly improved, and the penetration rate and popularity of in-vehicle systems will also be improved. It can also reduce traffic accidents caused by drivers looking at their phones.

From the perspective of autonomous driving operations, 5G also provides some new possibilities. At present, China is forming a complete layout of 5G from research to application, and industry standards are gradually being implemented. The development speed of autonomous driving in China is already not inferior to that of mainstream countries in the world. We believe that the arrival of 5G will be faster than we expected.

At present, my country's Internet of Vehicles market connects multiple industries such as automobiles, travel, energy, logistics and commercial real estate. This may be the greatest opportunity to have a positive impact on society in the next 20 years, and it will create an economic scale of trillions of yuan.

To all examiners, once the Internet of Vehicles system is formed, big data will become particularly valuable, because only based on data can more algorithms be optimized. This is why we, the promoters of Internet of Vehicles data collection, want to get involved in the Internet of Vehicles industry. It is an opportunity that needs to be seized.

Build the Internet of Vehicles together and create smart car life!

This product is a U disk-style plug-and-play vehicle-mounted device with strong adaptability, simple installation and easy use. The hardware terminal is also insured for its quality. After installing a dedicated APP on the mobile phone, the human-vehicle connection can be realized instantly, and the vehicle data information can be directly displayed on the mobile phone, which is convenient and fast.

The Internet of Vehicles uses vehicles as nodes and information sources, and connects the acquired information to the platform network for analysis and management through wireless communication and other technical means. Its core is information acquisition and feedback control, thereby realizing the interconnection between vehicles and roads, vehicles and vehicles, and vehicles and urban networks. It has emerged with the increasing severity of urban traffic congestion and the continuous advancement of intelligent transportation solution technology. China has abundant bandwidth resources and mobile communication networks, and a large number of cars, which gives China many advantages in developing the Internet of Vehicles.