Feature: Driving disruption in the automotive industry
Technology is taking over the automotive industry, changing consumer behaviour and driving change across all fronts.
Innovation is centre stage, reshaping how manufacturers address the needs of the modern driver, as they position themselves for the future.
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These current trends are making a lot of noise:
This includes autonomous technology, giving drivers the freedom to take care of other personal activities while in motion. Technological advance will also allow cars to become upgradeable in public and private cars at a much faster pace.
Fit-for-purpose mobility solutions will continue to rise, with many vehicles becoming shared for multiple modes of transportation. This could be stark in bigger metropolitan cities much more receptive to changes in transport. Smaller, rural centres show more resilience to these changes.
Shared mobility will fuel the consistent shifts in the automotive industry, as private car ownership declines in the United States. Tailored solutions that meet the needs of every consumer will lead the charge for specialized vehicles catering to specific needs.
Regulation is being revamped to address the shift toward technologically automated vehicles. While fully autonomous vehicles may not be available from a commercial standpoint until at least 2020, advanced driver-assistance systems (ADAS) play a huge role in preparing consumers, corporations and regulators for the reality that driverless automobiles are real.
Forbes predicts that 10 million driverless cars will be on the road by 2020, with one in four cars being self-driven by 2030, which will surely signal the death knell for the traditional model of manually-driven cars.
Although electric vehicles are not new, they are becoming quite competitive in the automotive market.
There are more options for charging batteries, and they come at a lower cost. With stricter emission regulations and increased consumer acceptance of these vehicles (fuel cell, hybrid, battery electric and plug-in), the number of electric vehicles could become almost 50 percent of new-vehicle sales by 2030.
Moving towards the future
Big Bang Disruptions don’t stop with these four. Automotive design is also a factor as it becomes fully computerized. This transformation helps with the improvement of materials and longer life spans, simplified maintenance and on/offline integration.
Disruptive technologies have become a staple in the rebirth and realignment of the automotive industry, and it won’t ever be the same again. Adopting new technologies and products that increase safety and efficiency while reducing costs is only the tip of the iceberg. With so many new incubator platforms waiting in the wings, new concepts are just a thought away.
To read the full feature, head to our Business Review USA magazine HERE.