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Market trends and business perspectives

Latest Car Technologies Which Are Expected to Reshape the Automobile Industry in Days to Come

There was a time when the viability of a car was determined by what was present under the hood. 

But the modern population is relying equally on groundbreaking automobile technologies like the ones listed below:

  • One of the biggest breakthroughs in car safety is expected to come with autonomous vehicles which will transform everyday transportation by minimizing the intervention of human drivers. Public transportation is going to become safer with autonomous vehicles which are also expected to reduce downtime and expand the possibilities of last-mile deliveries. One of the biggest causes of accidents is negligence on the part of the driver. This can be circumvented as AI-enhanced computer vision identifies upcoming obstacles and the facial features of the drivers to send notifications whenever they look fatigued.
  • Modern vehicles are being accompanied with a tamper-proof digital identity for enabling easy vehicle tracking. This can be of great help in fleet management, predictive maintenance, driver safety, and insurance. The mobility ecosystem gets benefited from sharing vehicle-related information. You can take the example of the AI-powered signal platform developed by an Israeli startup that helps in managing traffic-related challenges by connecting drivers to the roadways and digitizing road infrastructure management. Data gets processed and streamed in real-time to foster better mobility of vehicles.
  • Electric vehicles are climbing up the popularity ladder as they are a greener option compared to using up the depleting fossil fuel reserves. However, electric vehicles suffer from certain handicaps like poor battery life, exorbitant price, and improper charging infrastructure. These problems are also being taken care of by startups around the globe like ChargeX who are transforming parking spaces into charging stations.
  • Concepts like shared mobility are gaining traction as a superior alternative to traditional ownership of vehicles. These solutions can cater to the growing requirements of businesses without adding to the number of vehicles. Proper management can bring down pollution levels and reduce waiting time. A Singaporean startup is offering scooters that can be discovered through an app and parked in public spaces after the ride.
  • Advanced data analytics can help undertake informed decisions throughout the vehicle’s lifecycle. Managers can be informed about their fleets so that they can undertake predictive maintenance. Concerned authorities are also alerted in case of mishaps. The customer automotive data is also used in fields like optimizing supply chains, boosting up sales, and helping with newer product designs. Unit8, a Swiss startup has come up with a digital solution by leveraging big data and analytics. It develops predictive models which can add inertia to the marketing drive of car companies for increasing their revenue.

Proceeding towards automation

The automobile industry is slowly proceeding towards automation and greater fuel efficiency in days to come. Safety of both the driver and pedestrians is also expected to increase courtesy of features like adaptive cruise control, blind-spot monitoring, smart parking assistance, and so on. Growing demand is propelling more and more car manufacturers to join the bandwagon for transforming the experience of users without adding significantly to the cost.

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