1-3 Memo
Southern New Hampshire University
MBA 580
The automotive sector as a whole is being transformed by Internet of Things (IoT) and
other disruptive technologies.The pioneering development of connected and automated
(autonomous) automobiles is the result of advancements in this field.In addition to managing a
fleet, tracking traffic and weather conditions, managing a route, and providing assistance in an
emergency, its use has altered the capabilities of car maintenance and inspection as well as
opened up new avenues for entertainment.Because of the revolution that is taking place all
around us, the Internet of Things (IoT) will soon render conventional automobiles obsolete and
usher in new models constructed using IoT technology.Automobile manufacturers like ours must
be prepared for shifting business models, revenue streams, and ecosystems as a result of the
Internet of Things and connected cars.According to research, the global market for connected
cars and light trucks is expected to expand by 25% CAGR by 2030, taking it from its current
levels of $ 54 billion to $510 billion in USD.In addition, it is anticipated that the global market
for connected services for automobiles will reach $81 billion by 2030.These numbers are very
promising and point to a huge opportunity for us. However, they also suggest that we must
