Customer experience is being set to new heights by digital behemoths like Netflix, Amazon, and Booking.com. Customers have become accustomed to transparent pricing, one-click access, and quick delivery across online and offline platforms. Customers expect the same from automobiles.
The market’s new players are prospering because they are developing customer-centric business and sales models. According to a survey of such new market players, they do not seek to offer cars but rather mobility. The automobile sector, as well as the domain’s sub-branches that fall under its umbrella, can benefit from the usage of such innovative and user-friendly technologies.
Automobile manufacturers, auto parts manufacturers, OEM original part manufacturers, transportation companies, car rental companies, and shared mobility businesses all have a lot of potentials to improve automobile utility and customer satisfaction by leveraging digital technology trends in the automotive industry.
Top 10 Automotive Industry Trends and Technologies
The automotive industry trends in 2020 have paved the path for the automotive industry market trends to stay ahead of the competition.
Artificial Intelligence
Artificial intelligence (AI) technologies such as deep learning, machine learning, and computer vision are being utilized to discover robotic automation applications in the automotive industry’s future trends. Self-driving or autonomous cars are guided by AI, which assists drivers in terms of safety, controls the fleet, and improves services such as vehicle insurance and inspection. Artificial intelligence also has applications in car manufacturing, production rates, acceleration, and cost reduction. In the automotive industry, chatbots are another excellent example of AI Development Solutions for businesses and enterprises.
Connectivity enabled by AI allows for easy tracking of vehicle data for various applications, including driver safety, fleet management, insurance, and predictive maintenance. The customer benefits from the sharing or splitting of vehicle data, and the maintenance and development of the overall mobility ecosystem.
Autonomous Vehicles
These are self-driving vehicles. They have a clear objective in mind: to reduce the need for a human driver, and they hope to bring evolution in daily transportation. The use of AVs expands the scope of last-mile deliveries, reduces total downtime, and strives to transform the concept of transportation into one that is safe and secure by reducing the number of accidents caused by human drivers due to negligence. AVs are equipped with innovative and cutting-edge technologies, including AI-enhanced computer vision, for spotting potential roadblocks.
Big Data & Data Analytics
Advanced data analytics informs various decisions during a vehicle’s life cycle when big data is generated. The data acquired from the vehicles are used to qualify predictive maintenance, notify authorities in the event of an emergency or an accident, and notify managers regarding the fleets. Car manufacturers can use predictive analysis to make decisions about their annual sale purchases and production targets. Additionally, client automotive data is used by the app to optimize supply chains, drive more sales, and improve the product design of upcoming new vehicles.
Blockchain
Blockchains have a wide range of applications in the automotive industry. Sharing vehicle data to a secure network to enable connectivity and shared mobility solutions such as urban transit, ride-hailing, and delivery are just a few examples. Furthermore, blockchain finds application in confirming the spare parts supply chain, ensuring that the raw materials or parts are acquired originally from reliable, safe, and legal sources.
Internet of Things (IoT)
In the enormous automobile industry, the Internet of Things enables secure interactions between vehicles and their infrastructural components. This technology contributes significantly to increasing road safety, decreasing pollution, alleviating traffic congestion, and conserving energy through better fleet management. Emerging firms and startups have created advanced sensing technologies to collect vehicle data. It also allows the car to grasp and understand its environment. The most appealing aspect of Enterprise Mobility App Development is that it automates toll and fuel payments.
Cloud Computing Models/ Hybrid Computing Models
With the increased need for computers and data in the automotive sector, there is a tremendous amount of collective innovating in terms of data pipelines, data capacity, computing capacity, analytics-based algorithms, and AI. When they have storage-intensive and compute-intensive workloads, automotive firms have new computing requirements that can only be met by cloud and hybrid computing models by providing on-demand access to increased capacity. Cloud providers are investing heavily in R&D resources in these areas, and automotive manufacturers are collaborating with these providers to ensure that innovation is delivered in the best possible way.
AR/VR Solutions
It is designed for newly hired personnel in a company who can use the AR/VR model for learning purposes as well as virtual demonstrations to consumers. 3D printing assists the car manufacturing industry in three ways:
- For starters, it enables rapid prototyping using 3D printed models. This speeds up the testing and design phases of the production.
- Second, it allows manufacturers to print spare parts that are specific to their needs and specifications.
- Finally, the additive generation of composite materials leads to automotive parts that are lighter, more durable, and robust.
Vehicle-to-Vehicle Communication
This brand innovation has the potential to reduce traffic, sudden mortality, and severe car accidents, etc. With the introduction of V2V innovation, a specific vehicle will get a signal independent of the rest of the vehicles on the entire car route.
Smart Factory
A smart factory is an essential aspect of producing cars in a standardized, rapid, and error-free manner in various places throughout the world. Robotic Process Automation (RPA) is a foundational technology that employs automation, modeling, and digitization to provide a stable and adaptable manufacturing process. Aside from the use of automation and robots in the manufacturing industry, digital factories can offer significant financial benefits.
Electrification
Electric vehicles (EVs) are introduced to us as a result of the rate of depletion of fossil fuel reserves and the amount of environmental harm due to their use. EVs must evolve to address difficulties such as fleet electrification, low battery, insufficient charging infrastructure, high pricing, and feeding renewable energy-based charging networks in order to acquire a wider adoption.
Wrapping Up
Technology has the ability to transform any ordinary experience into a useful and profitable one. Who would have guessed that we would be driving cars in the early agricultural age, without exerting any hand energy or deciding skills? Be on the lookout for further eye-opening advancements in the automotive industry.
