Growing Trends In The Automobile Industry
What Is the Auto Industry Running On?
Challenging times lie ahead for the auto industry. 2019 has set the ball rolling for yet another year -or a few more years-of changes and challenges for the auto sector. The aspects that drive the automobile market have shifted yet again. Countries that once flourished with well- established automobile sectors have witnessed a massive downfall in sales due to change in the economy. Markets in China, Western Europe, and the US have shifted to better growth with better deals and a positive drive in consumerism.
Also, under consideration are the promising trends in the industry that are primarily being powered by technology and innovation. The industry is a massive one, and the common man wants nothing but the best from it. Technology-driven trends are the crucial factors that pave the way for auto giants to react to consumer preferences and thus adapt to the necessary changes.
Here’s a look at the trends that are revolutionizing the auto sector around the world.
Technology Takes Precedence In The Auto Industry
Eco-friendly electric vehicles
With the consumer leaning more towards eco-friendly and biodegradable products, it is high time the automobile industry also showed a little contribution towards the same. Battery-driven bikes have already made their foray into the consumer world. Auto giants like Daimler AG, General Motors, and Volkswagen are testing the waters of this lucrative market. But it remains to be seen how profound an impact electric vehicles can create on a planet that is powered by diesel and petrol. Electric cars are the most viable option to reduce carbon emissions. Low battery costs, widely available charging outlets, strict emission regulations, and incentives that encourage the consumer are some of the ways to create wider acceptance of electric vehicles. It is expected that by 2030, there could be a 10-50% sales of electrified vehicles, of which some will be a hybrid with the internal combustion engine.
V2V technology is a hot topic in the automotive world. Vehicle-To-Vehicle, Vehicle-to-Infrastructure(V2I), and Vehicle-To-Everything (V2X) are the latest innovations that are trending in the industry. This newest technology connects cars via smartphones. Creating a network between drivers, standard information regarding weather, traffic, road conditions, etc. can be shared. This innovation will turn out to be a feature on almost every vehicle that is equipped with sensors and wireless communication.
Autonomous Vehicles (AV)
Yet to become a reality, the day is not far away when we will see vehicles with Advanced Driver Assistance Systems (ADAS) taking control of drivers. Also known as self-driving cars or driverless cars, these vehicles have a plethora of hurdles to cross before they can become a common sight on the roads. Consumer demand, government regulations, the security of data, liability laws, and societal acceptance are just a few challenges the AV faces.
Adapting a combination of technology and sensors like GPS, LIDAR, RADAR, prebuilt maps, and cameras, the cars are equipped to sense the roadway and everything on it. Market leaders like Tesla, Audi, BMW, Waymo, Daimler, and Volvo are already working on their versions of the AV.
Vehicles with Cloud Technology
The automotive industry is taking up new challenges that are set to modify the face of this enormous sector. Cloud Technology is the recent buzzword that is creating new waves in the auto industry. Industry 4.0 or the Fourth Industrial Revolution is undergoing significant transformation with the adoption of cloud technology for cost and waste reduction. Cloud computing enhances vehicle data security, GPS, and the overall technical aspects of your car. Check Out – From Car to cloud – From apps to whole car updates.
Artificial Intelligence In Your Car
While we are discussing high technology trending in the automotive industry, we cannot ignore the next big thing – Artificial Intelligence. Autonomous Vehicles and Artificial Intelligence are interlinked. One does not exist without the other. Apart from significant players, young tech companies and startups have already come up with mind-boggling innovations in cars that deploy AI. Armed with sensors, real-time cameras, and thousands of virtual and real test miles, companies like Autox, Nutonomy, Optimus Ride, Drive.AI, and ZooX are testing AI-powered cars. It will not be long before you see a self-driving grocery delivery van come up your driveway with your list of kitchen commodities!