New Trends Are Changing and Shaping the Automotive Industry
The World Automotive Conference was held in Istanbul in October 2019, with 839 senior automotive industry representatives in attendance.
Speakers took to the stage to present solutions on how to keep pace with future trends, how to overcome the changing industry demands, and manage global economic challenges. So let’s take a look at some of the key issues addressed and see what’s in store for the automotive industry in 2020 and beyond.
Digitalization of Technology
There was a lot of focus on the digitalization of technology and despite the industry being largely mechanical, speakers highlighted how digitalization is disrupting and changing the industry. Everyone at the conference spoke about the rise of connected devices, automated driving, and B2B collaboration. The focus has shifted from things like the exterior design, horsepower, and aerodynamics to other concerns, such as environmentally friendly vehicles, driving assistance, and autonomous cars.
Changing marketing strategies
Industry leaders also spoke about how they are changing their marketing and production strategies through digitalization and highlight the importance of connectivity and data.
The future of the industry also depends on partnering according to one of the speakers, to solve urban transportation problems, highlighting the need for partnerships between major companies, startups, local and central governments. Collaboration with governments is also crucial for the growth of future cars.
And what of the car of the future? What will it look like? Well with the advent of autonomous vehicles according to one speaker we will be both drivers and passengers –which is an interesting concept to consider. This will apply of course when these vehicles become affordable and available to most people. In this new world where cars take over the wheel, displays and entertainment systems will become more important. But it appears we’ll have to wait a little longer for more efficient EV and autonomous vehicles, although the industry is hyped about the possibilities. One speaker claimed we have a long way to go to have anything that can compete with combustible engines.
What do customers want?
And what do customers want? Consumer needs and opinions are also shaping and even transforming the industry. With climate change on the minds of a changing demographic, consumers are demanding greener vehicles that don’t rely on fossil fuels.
So what’s in store for the industry? It looks like we’re not that far away from a car that functions without fossil fuels and without a driver. It will be a very different world for drivers in the future.