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techsuch May 9, 2021 0 Comments

Trends that are Transforming the Automotive Industry in 2020Img source: pexels.comEvery industry keeps evolving as the world evolves and the automotive industryis not an exception. The growth of this industry over the past few decades isevident, as it has moved from steam-powered vehicles to gas-powered, which weuse today and also electric-powered that is now on the rise.It has also moved from no lights to electric headlights and today, we have LEDHeadlights that are unarguably the best. According to LedLightStreet, theautomotive sector is bound to constantly change, as long as the world keepsevolving and coming up with technological advancements and new innovations.While these changes come with their challenges, newer companies seem to bemanaging them better. For example, Tesla is gradually making progress andstands ahead of others in the electric vehicle space. However, more automotivecompanies are also catching up with the new developments and in this article,we explain some of the major trends transforming the automotive industrytoday.## 1. ElectrifiedThis is one of the latest technologies in the automotive industry. The worldis gradually drifting from gas-powered vehicles to electrified vehicles and by2030, the number of electric cars in the world is estimated to be up to 125million. This benefits the world in so many ways, as these cars are quieter,run smoothly, and emit low levels of harmful substances, such as CO2.There is also no need for fuel tanks or exhaust pipes, which helps reducerunning and maintenance costs. As more electric cars are made, the world willhave to adjust to the system, and this could mean replacing gas stations withelectric grids or renewable sources of energy, such as the solar system.Electric cars are the future of the automotive industry.## 2. AutonomousImg source: pexels.comAlso known as self-driving or robotic cars, autonomous cars are capable ofsensing their environment and moving with little or no human input. This isall thanks to technological advancements over the years, as artificialintelligence, machine learning, and deep neural networks are combined to makethis work effectively.These cars are already in existence and more will be manufactured in thecoming years. This has lots of advantages, including helping out when you’retoo tired to drive or in cases where the driver has a disability that ispreventing them from driving.## 3. SharedCar-sharing facilities are now on the rise, especially in big cities, whichhelps reduce the cost of mobility by a significant amount. As newtechnologically advanced cars are introduced, the car-sharing option would beviable to more people and cities. This would make it easier to search forshared vehicles wherever and whenever.## 4. ConnectedImg source: unsplash.comA connected car communicates with other systems outside the car via theInternet. There are sensors and on-board computers inside the car that pickssignals from other cars, houses, and infrastructure outside. The firstconnected car was launched in 1996 and it is still evolving as technologyimproves.Connected cars are safe, efficient, cost-effective, accessible for disabledpeople, and are able to collect data from different sources. There is so muchmore to expect from connected cars in the future as we explore more oftechnology.## 5. Yearly UpdatedThe range of models produced in the automotive industry will be updated yearlyto adapt to the latest technological advancements. This will also help ensurethey are up to standard and meet the requirements of shared fleet buyers. Asthe four trends- Electrified, Autonomous, Shared, Connected- are improved,there will also be improved innovation to integrate the latest hardware andsoftware developments and keep everything up to date.For the longest time, vehicles have been made to be sold for up to five yearsand more but with the introduction of yearly updates, that is about to change.According to the PWC study, the short innovation cycles will be primarilythrough regular upgrades of shared vehicles, so customers don’t have to worryabout buying new vehicles yearly.## 6. DigitizationImg source: unsplash.comThe automotive industry keeps progressing and digitization has strengthenedthis progress, as it moves the manufacturing of cars away from manual labor.This has not only yielded a more effective result but has also resulted inproduction and cost efficiencies.The digitalization and advancements in technology is expected to increase theautomotive industry investments to $82 billion in 2020. This will continue toimpact the entire automotive value chain, as there will be increased demandsfor new innovations that will shape the industry and provide improved customerexperience.## 7. Consumer Mobility BehaviorAs the trends in the automotive industry continue to improve, customermobility behavior is also changing. Over the years, consumers have had theirpreferences in cars changed, as they desire more features and better updatesalongside technological breakthroughs. Cars are used for various purposes andhave made life easier for everyone.Due to this constant mobility change, there has been a decline of the driver’slicense in the United States, as more people gear towards the car-sharingoption. This makes it more evident that these trends are here to stay and upto one out of ten new cars sold in 2030 may likely be a shared vehicle.## Effects of these trends on the Automotive IndustryImg source: unsplash.comThese trends would have a progressive effect on the automotive industry as ittransforms from what the world has been used to into something better in atechnologically advanced world. The trends, changes, and possibilities willhave an intriguing effect on the automotive industry, thereby leading to asafer, more efficient, and more comfortable experience. This will have far-reaching consequences for the industry, as elementary structures and attitudesadjust to accommodate the developments in the next decade.## ConclusionTrends in the automotive industry won’t stop any time soon and these trendsare constantly evolving. As more cars are produced, newly improved featuresare added to allow more benefits for users and for the environment.The emerging technologies are also creating new experiences for automakers, asthey manage all the technological and automotive industry trends andmanufacturing changes. The next decade is about to be a game-changer for theautomotive industry.

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