October 5, 2022

7 automotive industry trends you need to know

Technology has already redefined the way cars use fuel, with electric, hybrid and solar energy systems beginning to displace the internal combustion engine and gas-fed engines as the driving force of the future. At present, the automotive industry is t

Technology has already redefined the way cars use fuel, with electric, hybrid and solar energy systems beginning to displace the internal combustion engine and gas-fed engines as the driving force of the future. At present, the automotive industry is the third biggest spender on research and development, behind healthcare and software and electronics. The most competitive automotive manufacturers are aware of the potential of materials engineering in achieving their key objectives.

He works with senior management teams of leading OEMs, leasing companies and new EV entrants to understand the disruptive trends reshaping the automotive and wider mobility sector. Jamie’s current focus is on helping existing and new OEMs manage the transition to electric, considering all aspects of the business, from engineering, sales model, charging and market entry. The rate of intellectual property litigation in the automotive industry has increased rapidly in recent years and is expected to rise even more dramatically in the near future.

Cars may soon be the new smartphones, at least with respect to patent litigation and the market for patents. Patent litigation in the automotive industry is nothing new – in fact Henry Ford himself was sued for patent infringement in 1903 – but the degree of litigation in this area has been rising dramatically. Starting around 2008, there was a dramatic rise in litigation relating to smartphones katespadebags.org and other converged devices like tablets, so much so that it raised the amount of patent litigation overall and often rose to the level of front-page news. In addition, there arose a hot market for patents and technologies relating to the phones. It stands to reason that the less time drivers spend ‘driving,’ the more time users will want to interact with onboard technology.

  • He is the author of several recent thought leadership reports on electric mobility and the future of the automotive industry.
  • Today, drivers can input a destination into their onboard GPS and run on-board diagnostics to identify any problems with the vehicle subsystems.
  • It enables them to minimize deployment time by 80% and quality control concerns by 5%.
  • Figures compiled by AID show that this year’s global prestige sector car market, a highly profitable sector that Mercedes, BMW and Audi have almost made their own, remains on course for yet another all-time global sales record.
  • It stores a true/false value, indicating whether this was the first time Hotjar saw this user.

Having developed these nuanced Customer Portraits, OEMs and other stakeholders can drill down into the observations to draw conclusions about who is likely to buy what. This will highlight segments to prioritise and where marketing and proposition development budgets can be deployed most effectively. In the past year, purpose has continued rising to the top of the corporate agenda, with an increasing number of companies seeking to differentiate themselves by acting as a force for positive change.

Our mobility habits will change

What’s more, it offers an unexpected manufacturing opportunity in the form of the development of bacteria-free interiors. Building a Customer Portrait for each target segment invites insights into key aspects of a consumer that, when viewed collectively, explain their behaviour. It outlines what they do and why they do it, identifying the motives for, and barriers to, behavioural change – or lack thereof. Ultimately, this allows an OEM, captive finance company or dealership to effectively target and encourage desired behaviours by revising marketing and activation strategies. Some markets will be unable to support the transition to EVs in the same way that wealthier nations will over the next decade.

Businesses nowadays must stay ahead of the curve and get in front of customers before their competition. They need to figure out what their present and future needs are, and then collaborate with the best technology partner to help them achieve those goals. Additionally, they need to optimize internal procedures, retain and build partnerships, and reduce expenses. Predictive analysis is another field where customer service can be optimized and customer loyalty secured. The program earlier detects car errors and optimizes processes through Big Data Analysis.

Personalized consumer experience

Volkswagen collaborated with developers of augmented reality applications to designate car parts with the appropriate equipment to be used in the repair process. Technicians can work more efficiently using this technology, which is known as MARTA. Are you looking for a career in the industry or skilled talent to push your business forward? Deloitte expects that by 2030 China will hold 49 per cent of the global EV market, Europe will account for 27 per cent, and the United States will hold 14 per cent. The primary benefit for drivers is that these headlights will have the longest range provided by any current headlight technology.

Fuel Cards

Fortune Business Insights estimated that the automotive plastics market was valued at USD 38.8 Billion in 2018. For decades, most vehicles have been made with steel bodies due to steel’s relatively low cost, strength and malleability. According to the survey carried out by automakers, nearly 70% of companies are in some phase of chatbots and over 50% have definitive plans for the implementation within the next 3 months. PBE Jobbers Warehouse, an auto body equipment wholesaler, integrated its eCommerce, CRM, and ERP systems.