7 automotive industry trends you need to know
The mobility of the future is “eascy”– electrified, autonomous, shared, connected and “yearly” updated. In this study, we describe the factors influencing the sector leading up to 2030 in the key US, Europe, and China markets. It also describes how the automotive industry should restructure itself in terms of volume, scale, and complexity. James is an experienced strategist, primarily working with automotive and industrial organisations to imagine and deliver winning approaches for the Future of Mobility. The sales of battery electric and plug-in hybrid electric cars tipped over the two-million-vehicle mark for the first time in 2019.
- The percentage of shared and autonomous mobility in overall road track will rise significantly.
- According the PWC study, in the not-too-distant future, connected vehicles will provide real-time data and receive yearly hard/software updates.
- Lingering health concerns will likely also play a pivotal role in consumer behaviour.
- They will have to concentrate on the most valuable use cases with the highest ROI for companies that invest in automotive digitalization.
- The automotive industry may be at its highest level for years, but digitisation is allowing it to strengthen further.
2022 should be shocking and thrilling as consumer products are already waving in other sectors with IoT, artificial intelligence, Blockchain, and other emerging technologies. The digital transformation in automotive industry is also influenced by these developments. Geneviève started her career as an engineer at a global OEM and is now based in our strategy practice working with some of the world’s largest companies to support them with the challenges and choices they face in a fast-changing mobility landscape. Her experience includes electric and fuel cell mobility, alternative fuels and advanced biofuels, energy storage, automotive value chain and new business models, and behavioural economics. Achieving price parity with, or even savings over, ICE vehicles will play a big role in speeding up EV adoption, especially as model ranges and marketing priorities adapt to manufacturer emission targets.
Trend Perspective: Automotive & Mobility
It won’t be long before the adoption of IoT-enabled connected cars really takes off, given the convenience they’ll offer. We’re talking personalised journeys and advanced infotainment, to algorithm-based insurance premiums and vehicle-to-vehicle communication. Imagine a car which talks to traffic infrastructure or could tell you when it really requires maintenance. If they katespadebags.org want to remain successful, both manufacturers and suppliers will have to offer user-oriented innovations. All these trends are likely to become increasingly apparent between 2020 and 2025 – which means that these are decisive years for manufacturers and their suppliers. The percentage of shared and autonomous mobility in overall road track will rise significantly.
The automotive industry may be at its highest level for years, but digitisation is allowing it to strengthen further. The increasing digitisation and automation of manufacturing is moving processes away from manual labour, resulting in production and cost efficiencies (which is already benefiting suppliers by £2.6bn). Systems which allow for the sharing of real-time data analytics, 3D printing, deployment of ‘cobots’ and ‘machine vision’ which ascertains safety are all disrupting the traditional production lines. The car sharing market is growing rapidly, with a number of concepts hitting our streets. These include Ford’s pay-as-you-go service GoDrive , and cars on demand club, Zipcar, plus several other schemes worldwide which are bound to reach the UK soon. So fast is this idea spreading, PWC predicts that by 2030, one in three kilometres driven ‘could involve sharing concepts’.
Then, in the first half of 2020, COVID-19 slowed down the growth rate of EV sales, or sent it into decline, across various regions. Paramount to seizing opportunities and managing risks is taking a new approach to market segmentation. We detail one such approach in Part 2 and apply it as a use case to one major market, the United Kingdom, to inform and inspire OEMs and other stakeholders globally. By letting today’s insights fuel the journey for the next ten years, we can accelerate beyond the obstacles the pandemic has brought and toward a future where EVs take centre stage. Pre and post show desk research sandwiching two days viewing, recording, and also gaining insights at auto shows from a wide array of car designers. Undertaken by a uniquely experience team with press-level access to debuting designs.
automotive industry trends you need to know
Favourable government policies and a change in consumer attitudes were the catalysts, driven primarily by growing concerns about climate change. Since Deloitte last presented a forecast for electric vehicle sales, in January 2019, the EV market has made great strides, and not just in terms of sales. OEMs have invested billions to deliver new electrified models, from R&D to factory redesign. To date, much of the litigation in the automotive industry, as well as transactions involving patents for use in the automotive sector, has focused on the area of navigation systems and sensor technology.
Technology has already redefined the way cars use fuel, with electric, hybrid and solar energy systems in cars beginning to displace the internal combustion engine and fuel-fed engines as the driving force of the future. CookieTypeDurationDescription_hjAbsoluteSessionInProgress030 minutesThis cookie is used to detect the first pageview session of a user. This is a True/False flag set by the cookie._hjFirstSeen030 minutesThis is set to identify a new user’s first session.