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The Upcoming Trends in the Car Industry

Whether you are looking for a potential job prospect or upgrading your auto, the forthcoming trends in the car industry are downright promising.

The automobile sector is in for a gigantic leap towards the internet of things, blockchain, artificial intelligence, and all things technology! Are you excited to read about the upcoming trends in the car industry?

1.   The Autonomous Swerve

One of the most prominent trends you can expect in the auto industry is autonomous cars. Well, you may have already heard of a few level 4 and level 5 models, but perhaps not seen one. Get ready for a whole lot more. According to recent statistics, US autonomous vehicle sales are to reach 7.4 million and China’s, a whopping 14.5 million by 2040.

Incorporating artificial intelligence (AI) in almost every function of the car, the auto industry is constantly innovating in terms of autonomous vehicles. These self-driven cars (level 5) are like robots that require zero control from you whatsoever.

These autos use AI for analyzing obstacles, routes, traffic, and every practical thing that a vehicle driver needs to control. Resultantly, you can avoid accidents, reduce downtime, and multi-task while in the car without the requirement of a driver.

2.   Electric Vehicles will Rule

The need for electric vehicles (EV) is now more than ever, and the car industry knows that well. Resultantly, you can expect electric vehicles to roll out in big numbers. These will not only prove to be cost-efficient but also eco-friendly, which is an immensely significant matter owing to depleting fossil fuel.

The drastic increase in EVs also poses major issues like high costs, short-lived batteries, inadequate charging facilities, etc. Needless to mention, the battle between the fuel cell electric vehicles and battery electric vehicles is almost certainly to gain intensity.

Amidst all the chaos, the good news is an increase in modular EV platforms. Plus, battery-powered EVs will make up to 7.4% of global car sales by 2025. To top it all, these cars are anticipated to reach up to eight out of 10 vehicles by 2050. Now that’s massive growth, isn’t it!

3.   Cutting-edge Connectivity

With the Internet of Things becoming the leading source of easing lifestyle, why must the car industry stay behind? Well, it will not. From voice assistants and geo-tracking to the connection between a vehicle, home, and other vehicles, you can expect a revolutionary change.

How about setting your home temperature to 27°C on your way back? Entering a cozy house with your favorite music playing—seems like hiring a real personal assistant, doesn’t it! Not to mention, taking a less-packed route will become way easier, with 5G making all these processes utterly seamless.

Overall, the car industry is up for some massive innovation in the near future, one you can’t help but attain!

4.   Prioritization to Health

Air pollution is at an all-time high and is not going to decrease anytime soon. Plus, with all the upcoming virus-borne diseases, health automatically takes the first place. Are you tired of wearing masks and carrying a hand sanitizer around?

The auto industry understands the need of the hour, converting your car into your new disinfectant. Sounds exciting, doesn’t it? Well, you can expect a host of wellbeing-oriented features in the upcoming car designs and models.

These include in-car air purification systems, the real-time pollution analysis of your current location, seat massaging equipment, and more. You can look forward to countless, unexpected modifications in ways that are sure to leave you surprised, in a sweet way!

5.   Car as An Arcade

Whether you are running low on grocery or fuel, your car got you covered. Yes, it will be that easy when your car converts into a mobile marketplace. But how is that possible? The car industry is up for transforming your vehicle into a portable arcade.

Now you can search for a nearby fuel station, pay in advance, and get your vehicle refueled without having to step out. The facilities also include finding parking spaces and paying the fees, toll tickets, proximate car repair services, and much more.

It does not end here. Your flexible shopping complex includes booking hotels, making restaurant reservations, ongoing discount alerts on stores near your location, etc. Moreover, you can also pre-order groceries, fast food, and more, pay in advance, and get it delivered before you reach!

6.   Redesigning Value Chain

The car industry’s value chain will take a new approach, with collaboration taking the core position. Companies are likely to introduce charging point facilities, entering the utility arena, and other similar fields.

Apart from that, a high probability lies in redesigning the supply chain. The auto industry wants to reduce the reliability on foreign countries for spare parts manufacturing. Resultantly, the sector aims for supply chain diversification, making way for new prospects, especially for labor-intensive countries.

7.   Digitalization – Retail, Operations, and More

Another significant trend in the car industry is transforming virtually everything from offline to online platforms. Forget visiting a car showroom to search for a new model or even a used one. Your new retail center is right on your screen, which you can access from your home.

Apart from retailing and providing services digitally, car companies are likely to automate their core operations. With the soaring competition over digital media, you will now see every top vehicle company as a digital one. Those who will not follow this trend are prone to lag or exit this race.

To induce automated systems, firms in the auto industry need the latest software for operation. You can also expect iOS and Android apps of the leading car brands, one never knows!

8.   Wrap Up

Inducing AI, big data and machine learning, IoT, human-machine interfaces, and other technological advancements, the car industry is in for a massive surge. From design and production to manufacturing and supply chain, the sector foresees all-rounded changes.

These updates will undoubtedly bring forth a host of opportunities for automotive companies. But you, as a customer, are the one who gets the higher advantage. From convenience in traveling and receiving services to greater buying options and cost-efficiency, these trends are sure to give you countless benefits.

All in all, the upcoming trends in the car industry reflect nothing less than unsurpassable growth. A change that is sure to be worthwhile for both you and auto companies at large!

Disclaimer: All information in the site is provided for informational and educational purposes only. We are not a financial advisor. The information in this article is not intended to imply any recommendation or opinion about a financial product and is not a financial product advice. You should obtain independent advice before making any investment decisions.

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