Hyundai Motor partners with TeamViewer for digital Innovation
South Korean multinational automotive manufacturer Hyundai Motor Company has partnered with remote connectivity solutions provider TeamViewer to digitalise the business operations and manufacturing processes for Hyundai Motor Group Innovation Center in Singapore (HMGICS).
HMGICS is the group’s test bed and a global open innovation hub that aims to develop new electric vehicle (EV) business models, forge innovative partnerships, produce mobility products, and develop intelligent manufacturing platform for the auto industry.
As per the contract, the innovation centre’s smart factory will leverage TeamViewer’s augmented reality (AR) platform, which includes mixed reality (MR) and artificial intelligence (AI) capabilities. The platform will support assembly, maintenance, quality management, logistics, client experience projects and workforce training.
The two companies will conduct joint research and development (R&D) activities in AR-powered smart factory operations, immersive digital experience for frontline workers and AI support for a future automotive factory. Overall, the partnership will drive increased productivity, accuracy, speed and safety of frontline production workers. To leverage these benefits for the industry, the two parties will also pursue global joint marketing of smart factory and enterprise AR technology.
“Developing an intelligent manufacturing platform is an important part of Hyundai's strategy to lead the future mobility industry,” said Hong Bum Jung, Chief Executive Officer of HMGICS.
He added that partnership is in line with the company’s “vision for a future mobility smart factory” and “will further accelerate the company’s transition to smart factory and enhance its efficiency”.
Sojung Lee, President for TeamViewer Asia Pacific, said, the company is looking at digitalizing Hyundai’s manufacturing processes and building an automotive factory of the future.
“As digital transformation has accelerated on the shopfloor, there is a growing need for AR solutions like TeamViewer Frontline that helps by optimizing manual work processes in industrial environments. Our collaboration with Hyundai Motor Company will further solidify our position as an enterprise software provider with specialized solutions for the manufacturing industry and it will strengthen our role as a leading player in the industrial metaverse space,” he said.
AR/virtual reality (VR) and other advanced technologies has now caught the attention of the auto industry, transforming the design, development, manufacturing and marketing process and even the car buying experience. Auto companies, including BMW, Porsche, Land Rover, Volkswagen AG, Daimler AG, BMW Group, Visteon Corporation, Hyundai Motor Company, Jaguar Cars, and Audi among others also use AR technology to help automotive technicians accomplish complex maintenance and repair tasks more quickly.
According to a November 2021 report by Fortune Business insight, a Pune-based analyst firm, the global AR/VR in automotive market size is projected to grow from $4.51 billion in 2021 to $14.44 billion in 2028. The study further mentioned that the market stood at $3.97 billion in 2020. It is set to exhibit a CAGR of 18.1% in the forecast period during 2021-2028.