Trends Driving Change In The Automotive Industry

Driving Change

Have you noticed how quickly people adapt to technology? Since the introduction of the smartphone, it’s clear how the latest trends sway consumers. Even if a product is highly complex or expensive, it’ll be in demand as long as it’s convenient and makes life easier. The automotive industry has entered the technological era utilizing these core values. The old-fashioned four-wheeled car comprising of just the basic features has now transformed into an advanced model.

The automotive industry has the opportunity to reshape its fundamental structure by devising new strategies and business models that will translate current properties into the context of tomorrow’s car. They must consider the purchaser, all the users, transport issues, integration of technological features, etc. The focus has shifted to the use rather than the production of automobiles. The objective is to make them safer, more enjoyable, and more efficient. As innovation creates substantial transformations in the global transportation arena, the sheer size of the industry has the power to influence the direction that humanity progresses in the future. But here are only some of the ways technology-driven trends have been revolutionizing the automotive industry:

The focus is on the user – the Millennials

As the younger, tech-savvy generation emerges to become the more significant drivers over the next few years, the development of vehicles will be focused on creating automobiles that are more sustainable and convenient in the mobility solutions that they offer. Though more educated than their predecessors, this generation is more linked to and defined by technology. Due to this, a number of new cultural norms and behaviors significantly different from prior generations have been adapted. One especially different trend is the perspective that ownership of a product is not essential for access to the service it provides. Hence the ideology of car sharing (the use of vehicles from designated spots), ridesharing (sharing a car for a journey with numerous passengers), and autonomous cars have become quite popular. In hindsight, for these options to be successful, a payment gateway must also be available to enhance user experience as well as provide greater accessibility to a growing audience.

Autonomous driving

This emerging trend has been making waves in the automotive field. Even though self-driving vehicles are not prevalent on the streets, it’s being experimented all over the world. And it seems as if autonomous driving will soon rule the roads. There are numerous benefits, but from a safety point of view, there will be a decrease in accidents. And if you’re not driving the car, then you have more time to socialize.

Connected vehicles

As smart technology makes its way into this industry, the concept of connected vehicles has also come to light. It allows cars to share information with each other concerning details about the driving conditions, traffic jams, ideal speeds, weather, and more. This is only the initial stages of Vehicle to Vehicle Communication (V2V) with ambitions that this aspect will be gradually integrated into almost every car. For this reason, several technological features such as car sensors, vehicle transmissions, and wireless communication have been undergoing extensive research over the past few years. A strong IoT (Internet of Things) backup is required to connect vehicles and devices, whether it’s through Wi-Fi, 4G, GPS, Bluetooth, and eventually 5G.

Telematics

In continuation with the above point, it’s understandable that as automobiles begin to communicate with each other, they will also be able to interact with their surroundings. Automobiles can merge data collected with the aid of vehicle-to-everything applications. V2X (vehicle-to-everything) involves the exchange of information between a car and all the entities it comes in contact with, including other vehicles, devices, infrastructure, the grid, and the cloud. It offers assistance in various aspects such as collision avoidance, parking management systems, intelligent traffic systems, remote monitoring, and diagnostics, etc. The car will be able to receive warnings or alerts regarding real-time traffic, accidents, or any other hurdles. It optimizes traffic flow, saves time, and reduces emissions, but more importantly, it improves road safety. With various features such as intersection collision warning, lane change assistance, obstacle detection, lane departure warning, forward and rear collision warning, etc. are some ways that this technology is marking its presence.

Blockchain

Though this terminology is more commonly associated with cryptocurrency, it has made its entrance in the automotive industry as well. Some companies are implementing this as a mode of payment either for purchases or services rendered. But blockchain has also provided a potential solution for combating the rise of fake parts sellers. It can create an accurate, trusted protocol for the supply chain. Eradicating these counterfeit parts from the market will enhance transparency and promote efficient pricing strategies.

3D printing

3Dprinting has been slowly invading almost every aspect of life, and the automotive industry is no exception. This technology is challenging the basic approach to car design. How this concept is altering the present construction model can be demonstrated with the following example. Vehicles are typically devised to endure around 3 to 5 crashes within a lifespan of about 7 to 10 years. With the aid of 3D printing, automobiles can be developed on a solid chassis but with an exterior body devised for a single crash. The part can be replaced quickly and cost-efficiently while retaining the chassis, bringing forth a revolutionary change in accident repairs.

Increase in electric vehicles

As more importance is being given to protecting the environment, there has been a steady increase in the popularity and the number of electric cars. And as more models get mass produced, they will soon become more cost-effective. So there will be a greater quantity on the roads, especially with dwindling supplies of nonrenewable energy. This trend will be prevalent as many leading automotive manufacturers such as General Motors and Volkswagen are marking their presence with these models. So when you feel that the time is right, it may be a good idea to upgrade your car to a newer model by selling your old one to a company who says We want your car

With the automotive industry growing by leaps and bounds, there will be more trends emerging at a fast pace. There are likely to be more impressive inventions and innovations in the coming years. With the drastic evolution of ideas and techniques, it’s interesting and exciting to imagine what other trends will develop in the future.

About Michelle Joe: Michelle Joe is a blogger by choice. She loves to discover the world around her.She likes to share her discoveries, experiences, and express herself through her blogs. Currently, she is associated with Webuycarstoday Team.


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