Innovations shaping the automobile industry

The automotive industry is driven by innovative ideas, and is continually transforming and evolving. As cars become computers on wheels, experts believe that the amount of software in them is expected to triple in the next 15 years. The accelerated rise of new technologies and changing consumer preferences has tremendously impacted the automotive industry. Digitalization, increasing automation and technological trends add up to a fundamental transformation in the industry.

Imminent changes are more tangible as growing innovation, especially in software-based systems will require care to be upgradable.  The consumers are now more aware of technological advances which will further increase demand for upgradability in privately used cars. It is assumed that our future will be all about accessible mobility wherein mobility solutions will be more individualized, and compatible.

Let’s peep into the innovations that are driving the new automotive revolution!

The evolving ecological and technological trends are enforcing the manufactures to bring new and advanced technologies into the automobile. Consumers expect that is there car is more than just a metal box on four wheels. Thus, now car manufacturers are continually optimizing and enhancing the vehicle to refine its role. Automakers need to be able to introduce enhanced digital products and services quickly to address customers’ ever-evolving needs. Now it’s all about agile and two-speed R&D.

The pace of modern production is astounding. The automotive industry will witness more disruption in the next 10 years than it has seen the last fifty years. It’s all about the production process, and if any of the vehicle manufacturers don’t want to lag behind, they should be ready to adapt and keen to bring innovation and advancement into their production process.  They should be capable enough to take advantage from Industrial 4.0, which promises unprecedented amounts of data and analytics, providing opportunities to increase productivity. The automotive industry key players will have to make the most of 3D printing in order to compete with their rivals.

Interestingly, the automotive manufacturers have invested in emerging technologies to stay ahead in the competition. The tremendous surge in zero emission vehicle technology has been driven by environmental factors. Environmentally friendly electric vehicles (EVs) and hybrid electric vehicles (HEVs) is gaining an immense popularity among the car enthusiast. Over 5.6 million EVs are on the road today as it promises impressive performance.

“The global market for autonomous vehicles is projected to be worth $54.23 billion in 2019, and its value is expected to increase to $556.67 billion by 2026.” A self-driving car, also known as driverless car, or robotic car has allured the car enthusiasts as lot. The manufacturers have taken a great interest in the potential of mobility technologies. It requires deep expertise in AI and machine learning. Thus, automotive players are partnering with machine learning leaders.

New technologies open new opportunities. It’s imperative for the technicians and mechanics to upgrade their skill set to take advantage of technological advancement in automotive industry. So, be prepared to invest time in learning new trends in the industry and acquire new skills to reach new milestones.