5 Trends Shaping the Automotive Industry

The automotive industry continues to develop at a great pace. Advanced technologies and changes in the way both people and objects are transported; it directs the entire industry to adopt new processes, integrate artificial intelligence and increase existing capabilities. According to a PwC report, the future of mobility is transforming the role of the electric, autonomous, shared, connected and annually updated car into a “third place” hybrid that will combine both home and workplace elements. Many see the current process as the most exciting time to work in the industry. The trends that make the automotive sector so exciting are listed as follows: Autonomous Vehicles The UK Automotive Consumer survey by Deloitte shows that people largely accept autonomous technology and consumers are less concerned about the safety of autonomous vehicles. In the near future, autonomous driving is estimated to reach 40% of total traffic. Digitalization in Production The automotive industry continues to develop and strengthen again with the effects of the pandemic being left behind. Increasing digitalization processes in production further increase this strengthening. Traditional production processes are increasingly moving away with the widespread use of real-time data analytics, 3D printing, cobots (collaborative robots) and machine vision that ensures safety. Increasingly Connected Vehicles As 5G and the Internet of Things (IoT) continue to grow, vehicles are becoming increasingly connected. The market share of connected vehicles, defined as a type of vehicle capable of communicating with other software systems and collecting data from its surroundings, is expected to exceed $190 billion by 2028. Online Vehicle Purchases Online vehicle purchases, which save customers time, are increasing every day. While less than 5% of total vehicle sales took place online before the pandemic, today the vast majority of customers state that they want to make their car purchases online. This directs the automotive industry to develop online sales to offer a more seamless experience. Electric Vehicles The transition to electric vehicles is considered the most important trend in the automotive industry worldwide. It is estimated that there are currently more than 10 million electric vehicles on the roads. China and Europe play the most effective role in the growth of electric vehicle sales. In recent years, when sustainable approaches are adopted by more and more people, this increase in electric vehicle sales does not seem surprising.   This article is quoted.