Revenue projections from car-connected services are expected to hit $152 billion by 2020. Analysts anticipate a huge push for the “Internet of Cars,” not just because of revenue generation, but also due to the immense amount of consumer data that can be collected. Similar to the Internet of Things, however, the demand may surpass the security technology available to ensure consumers are both pampered and safe. Can we have the best of both worlds? (image via stock photography)
According to a recent study by BI Intelligence Estimates, revenue from car-connected services is expected to hit $152 billion by 2020. Car manufacturers are making the push to make the “Internet of Cars” technology more widely available, to capitalize on the demand and consumers can expect cooler safety and entertainment features as a result. Quite frankly, upcoming car-connected technology is going to be pretty cool.
Imagine being able to accurately predict the weather based on regional windshield wiper usage. Or, being able to notify every driver of a dangerous storm heading their way, regardless of which station or internet-based app is running in their vehicle. This is the future of the “Internet of Cars.”
Emergency responders would have exact coordinates for vehicles involved in collisions and corporations would have more precise data regarding personal preferences. It is rumored that drivers will be able to take their smart playlists with them when renting cars, and everything is speculated to go hands- and smartphone-free. It’s exciting, but is it safe?
If there’s one thing we’re learning through the Internet of Things, it’s that companies will compromise security to rapidly meet consumer demand. In a recent study conducted by HP, 10 out of 10 IoT devices exhibited security vulnerabilities. While more and more information regarding IoT security concerns continue to surface, IoT device sales continue to soar. Consumers have essentially told manufacturers, “We don’t want safety. We want our products, NOW.” A similar concern has yet to be addressed regarding the Internet of Cars.
Currently, hackers can use IoT devices to compromise otherwise secure networks, allowing them to gain access to home security cameras, footage on baby monitors, personal information and more. If future car-connected technologies follow the same pattern, hackers can also track you wherever you go. This type of hack would be great when tracking a criminal, but if the criminal is on the other end of the equation, the outcome doesn’t look so good.
Car manufacturers have yet to comment on the engineering behind the back-end of the Internet of Cars, or when such rumored features will make it to market. If security concerns are addressed, however, consumers can look forward to a driving experience fit for a king. BI Intelligence projected that the highest car-connected application demand will be for safety features. Keeping personal information secure is definitely underneath that umbrella, so with any luck, the emerging technology will live up to the hype.
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