5 Imperative Digital Transformation Trends For Automotive Industry in 2020
Fast-paced technologies are revolutionizing the business sector, and the automotive industry is not an exception. From the buying process to driving, everything is going through the digital transformation. It means that not only vehicle manufacturing companies need to be updated with ongoing technology trends. Every business-related to the automotive industry tend to invest in innovations to stay competitive and meet customer expectations.
It is predicted that the global automotive software market will hit 11 billion U.S. dollars by 20201. On top of that, around 80 percent of changes in the industry will be triggered by advanced technologies. In this article, we’ll discuss the latest automotive trends to show you the big picture.
VR/AR Showrooms
Let’s start from scratch and talk about the impact of the latest technologies on how we select and buy cars. Both AI and VR introduced on the horizon several decades ago. However, 2020 is going to be an imperative milestone for its official usage. The global AR/VR market size is expected to expand to 2.4 billion U.S. dollars in 2020 which is twice as big as it was in 2018.
When it comes to buying a new car, customers want to experience advanced technologies. VR headsets are becoming more affordable and AR is no more an exclusive thing. Moreover, a user-friendly website is needed for an automotive business – from manufactures to dealers. Nowadays, a showroom doesn’t need to have all the cars on-site. To see and drive all models, customers just need to put on the VR headset.
Connected Vehicles
IoT is another modern technology that is transforming the automotive sector. People are obsessed with connectivity as it makes life easier than ever before. From small devices to huge infrastructures, we want things around us to interact with each other. The automotive industries can no more ignore this global tendency.
It is expected that 5G will get global coverage in 2020 that means internet speed will be increased drastically. As a result, the in-vehicle connectivity will become a demand for the latest car drivers. In the upcoming years, the number of connected cars will hit several 250 million.
Yet, connected cars not only mean that drivers and passengers will be able to use the internet during travel. Sophisticated IoT-based solutions will allow real-time car diagnostic which will help car owners find possible malfunction before they happen. Moreover, IoT-based cars will be able to digitally communicate with other cars and this will lead to security and improved traffic.
Advanced Safety with AI
In the automotive industry, AI is associated with self-driving cars. However, this technology can be used in many other ways too. The size of the AI market is expected to increase to 10 billion U.S. dollars in the upcoming five years. And the major share of investments will be related to safety concerns such as driver monitoring and blind-spot alerts.
An example of an AI-based safety solution is the Automotive AI platform by Affectiva. It was released about a year ago and the major purpose is to monitor driver’s behavior and emotions. For instance, a robot can detect when a driver closed his eyes, sleepy or using the cell phone while driving. It will also help the driver with navigation and this will decrease the risk of an accident.
Personalized Driving Experience
Nowadays, people spend a lot of time in cars and it is imperative to make their in-vehicle experience as comfortable as possible. Therefore, automotive industries are paying more attention to personalization and the level of comfort in every new car model.
Another advantage that goes hand in hand with personalization is the increased capability. Since cars will be able to perform many tasks without human interference, consumers will get a golden chance to spend their time on the road more effectively. However, companies in the automotive industry should be ready to revamp the whole concept of driving experience in the future.
3D Printed Vehicles
Many of us believe that 3D printing is not just a modern tech trend but the future of the automotive industry revolves around it. Some leading car manufacturing companies already using this technology to design the different parts of the car. In 2020, this kind of vehicle should be more just an experiment for potential consumers.
