Written by: Peter Minkoff
The automotive industry is among the largest and most impactful sectors in the world. And while the market itself has remained quite stable over the last decade, that is now drastically changing. Rapid environmental changes and technological advancements have forced car manufacturers to adapt to unique challenges, leading to innovative solutions and industry-disrupting developments. With that in mind, here are some of the most important trends that are set to shape the future of the automobile sector in the years to come:
The Rise of Electric Cars
Even though the popularity of electric cars has been on the rise for quite some time now, it has quickly become one of the most prominent changes in the automotive sector. With the concern for environmental health continuing to grow, zero-emission technology, cleaner, and more eco-friendly hybrid electric vehicles (HEVs) and electric vehicles (EVs) are gaining prominence. The charging infrastructure and battery technology required for these cars are also evolving. For example, instead of limited lithium-ion batteries, solid-state batteries can now be used to provide greater safety, energy density, stability, and cost-effectiveness. Major manufacturers such as General Motors, Aston Martin, and Jaguar are even planning to only produce electric vehicles in the future, thus further supporting this sustainable tendency.
More Connected Vehicles
There’s no denying that connectivity is a game-changer in the automobile industry, set to completely transform driving as we know it. With 5G technology and the Internet of Things (IoT), vehicles become driving supercomputers that are able to communicate with the entire traffic infrastructure in real time. Cars are becoming smarter than ever before, offering solutions such as in-vehicle infotainment systems that provide both entertainment and information for improved driving experiences. The infotainment systems that are currently available can connect with smartphones, driver assistance systems, smart sensors, and other external and in-vehicle systems. Although these features are only a standard for sports cars and more high-end vehicles at the moment, they are expected to become the norm in the near future.
Improved Safety Features
Safety has always been a key factor in the auto sector, and this trend will continue to be important in the future as well. As a current consumer, you can enhance your safety with a dash cam by Autobarn, making a small change that will have a large impact. Dash cams encourage responsible driving and provide irrefutable evidence in the case of accidents, giving drivers security and peace of mind. Along with this popular upgrade, the following years will also come with new safety features. The EU, for instance, has improved the General Safety Regulation (GSR) for all vehicles sold in the European Union. Features such as Advanced Driver Assistance Systems (ADAS), enhanced crash test standards, protection of pedestrians and cyclists, and smart speed assistance are now compulsory.
Self-Driving Car Revolution
The vast potential of self-driving technology has quickly become a main focal point for auto manufacturers, as it presents excellent business growth opportunities. Although contemporary autonomous cars are still not fully developed, high-driving automation vehicles are already accessible in certain regions. Companies such as Tesla are implementing this technology in private vehicles, while Waymo is providing a self-driving taxi service in major US cities. Despite the fact that this technology is still developing, we can expect increased testing, greater innovation, and a larger number of autonomous vehicles on the road in the years to come. Drastic changes like these will likely have a strong impact on the types and costs of car insurance policies available to owners, along with altering laws and regulations across the globe.
Continuous Supply Chain Problems
Unfortunately, not all changes in the automotive sector are positive. This industry is among the most severely impacted by the supply chain issues that have been causing worldwide disruptions in recent years. Instability is the biggest challenge at the moment, which will likely persist in the coming years. Many factors are impacting this disruption, from talent shortages and high employee turnover to electric vehicles and advanced features in cars. Even aspects such as the need to relocate production plants due to COVID-19 and geopolitical tensions in certain global regions could be intensifying the current supply chain problems. At the moment, original equipment manufacturers (OEMs) and vehicle manufacturers are attempting to address these challenges by relying on the global supply chain less and investing more in automation and robotization. However, these changes take time to implement and may not be capable of resolving supply chain issues quickly enough.
In conclusion, the trends mentioned above are completely disrupting the automotive sector, changing how cars are designed, produced, sold, and driven. Modern vehicles are becoming more than just a means of transport – they are now smart machines that are safer, more connected, more environmentally friendly, and more enjoyable than ever before. As long as industry-wide challenges such as supply chain problems can be overcome, we can expect the positive trends to impact every aspect of the automobile industry as technology continues to progress.
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