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Automobile industry turning digital with Startup collaboration

There’s a dramatic change in today’s economy, prompted by progress in evolving markets, fast-tracked upsurge of new technologies, sustainability policies, and changing consumer rights preferences. The latest mobility as a service, startup and digitisation are shaping up with increased automation.

With the introduction of new business models, there’s been a huge and rapid revolution in the automotive industry. These forces give rise to the following trends in the automotive sector:

  1. Assorted mobility
  2. Independent driving
  3. Electrification
  4. Connectivity

As per leading digital business transformation, Forester, 2016 –

“The top three digital transformation drivers are improved customers experience, increased the speed of innovation and improved time to market.”

These top drivers are achieved through the software intervention in the automobile sector. Mobility-as-a-service innovation brought all kinds of transportation organised into a single intuitive mobile app.

It effortlessly integrates transport selections from different providers, thus, managing everything from travel scheduling to payments. Whether you prefer on-demand journeys or look out for an affordable monthly package, mobility as a service smartly conducts your travel needs.

Mobility as a Service has amazing potential within the automobile industry. Besides enhancing consumers’ lives and caring the environment, it bargains with unparalleled business opportunities across the globe.

Based on buyer’s expectation of digital lifestyle and demands of new state-of-the-art services, the speedy pace of digitization is renovating the hardware driven locomotive segment to a software focused section.

As technology in vehicles is advancing at an unstoppable speed, here are some of the latest trends we expect to see in the coming years:

Self-driven cars: The year 2015 made headlines with Google testing its self-drive cars which used remote sensing technology. They consisted of a laser rangefinder, mounted on vehicle top which generates a 3D map environment that assists in navigation.

However, a report suggests that- this did not test well, as the drivers had to stop the cars from crashing on roads. These cars are though not expected to be seen on public roads as of now, but improvised technology will enable them to take a reality step in future.

Smart control panel: Console Panel that performs similar functions like smartphones i.e. attending calls, reading the text messages, map location and playing music etc. are attracting the buyers. Their popularity is also trending for leading car manufacturers.

The two big players in this new technology are Apple’s Car Play and Google’s Android Auto. Though road safety experts believe that this could distract drivers, others think that the user-friendly controls make things safer, simpler and easier.

There are other technology advances like gesture control, autonomous features like active parking assist which are making lives better. Along with these, black-box car tracking has already been around. It is now upgraded to a connected car technology that conveys/collect technical data from automobiles to passengers and wayside assistance through a small device connected to the internet.

Some time back, it was unthinkable to talk about ‘startups’ and ‘automobile’ on the same page. The automobile industry typically enforces a long maturation period on new technologies for testing, prerequisite, and certification of products. Whereas, the startups is all about ideas and execution on new technology innovations.

With the growth in automobile technology in recent months, a growing number of partnerships have taken shape between tech startups & automobile investors. Many automobile giants have said they are uniting with startups or accepting a stake in companies to move ahead with innovations. From planning driver monitoring systems to supporting driver to providing ride-share drivers, these startups are competing towards reshaping transportation.

There exists a lot of opportunity in this space that automobile companies cannot expect to cover it all within or using their existing trials. Hence, association with startups can benefit in a much faster market entry for innovations.

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May 5th, 2017|Uncategorized|