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Recent years have seen groundbreaking advancements in the transport industry and stakeholders continue to make investments into new innovations that will continue to revolutionize the way we use vehicles. In this article, we will look at the 15 Most Revolutionary Automotive Industry Trends that will change the way we look at transportation.
Long gone are the days when basic four wheel cars were equipped with non-existent safety features. We now live in a world of advanced cars that utilize the Internet of Things (IoT), including big data and cloud computing to get around. We’re living in an exciting era, witnessing the birth of vehicles of the future. The only restraint that may hinder the growth of the market is the fact that developing countries sometimes lack the stable cellular connectivity needed to make it work properly.
The motor vehicle industry has seen many innovations in recent years, one of which being the fact that various parts are being optimized using big data analytics platforms. This gives original equipment manufacturers (OEMs) an advantage in an increasingly competitive market. In addition to the impact it has on the manufacturing of vehicles, it also affects the supply chain and end-user experience.
Reverse cameras have become the norm, as we start seeing the emergence of electric engines, solar panels, hands-free parking, and driver-less cars. Dash cams will also be the norm in top-spec cars. Soon we will see how artificial intelligence defeats carjackers, and many more fascinating vehicle trends.
#1 – Enhanced In-Car Entertainment
While in-car entertainment is hardly a revolutionary automotive industry trend, new advancements will bring it to a whole new level. Many manufacturers now prioritize in-car entertainment, especially with the emergence of self-driving vehicles, which does not require drivers to pay close attention. That means we can look forward to custom music systems, enhanced TV screens, augmented reality window displays, advanced in-car live streaming abilities and much more.
#2 – Bigger, Better Solar Power
Researchers have been testing carbon resin and polymer fiber door panels in which solar batteries can be stored. It is expected that these door panels could store power while enabling fast charging. Once this is fine tuned, vehicles’ weight should be drastically reduced.
#3 – How AI Can Defeat Carhackers
In recent years, the need for increased vehicle computer security features has increased, and it is expected that this need will continue to increase. Top-of-the-line cars now act as sophisticated computer networks on wheels. Manufacturers implement artificial intelligence to offer live protection from viruses and hacking that might affect the performance and security of vehicles.
#4 – Usage Based Vehicle Insurance
A connectivity wave has swept across pretty much every business in the world. The Fintech and insurance industry especially have experienced profound innovation thanks to the Internet of Things. It has helped insurers to connect with a variety of other sectors, starting with individual policyholders to the motor and property industry.
Insurers can now use the Internet of Things to assess risk, estimate necessary reserve, and create pricing policies. Technology has also created major opportunities, such as usage based insurance, within the automotive insurance sector. This innovation involves a premium calculation that is based on:
This type of insurance helps to encourage drivers to practice safe behavior to help prevent accidents. Fewer accidents mean reduced claims payouts and an improved bottom line for the insurers.
Insurance companies can even use usage-based insurance to provide consumers with pay-as-you-drive, pay-how-you-drive, manage-how-you-drive and distance-based insurance. In the near future, we will see other applications of usage based vehicle insurance in HMI and artificial intelligence, autonomous and semi-autonomous, and IoT based fleet management.
#5 – Telematics (V2G and V2X Technology)
Telematics have been pivotal in connecting vehicles to other devices in order to send and receive real-time traffic alerts and warnings related to parking management systems, collision avoidance, and more. Types of vehicle connectivity technologies that use the IoT include V2V, V2X, V2I and V2G.
Vehicle to everything (V2X) uses wireless technology to exchange information between vehicles and whatever it connects, including other vehicles, devices, the cloud, the grid and infrastructure.
V2X technology has many functions, ranging from increasing traffic safety to optimizing traffic flow, reducing emissions, and saving time through lane departure warning, lane change assistance, obstacle detection, collision warning, road departure warning, rollover warning, read impact warning, read accident warning.
#6 – Vehicle Health Monitor
While some automatic biometric identification systems have emerged, most are not yet ready to be commercialized into mid-range or economic cars. However, these automotive industry trends technologies are set to develop significantly over the next four to five years and should hold a significant portion of market shares by 2025.
With sleep deprivation, fatigue and drunk driving being some of the leading causes of fatal accidents, car manufacturers continue to look for ways to overcome these issues in drivers by delivering warnings. Sensors in seat belts and steering devices play a pivotal role in in-car health monitoring systems.
#7 – Truck Platooning
Autonomous vehicle technology is not reserved for passenger vehicles only. By 2020, freight transportation will be revolutionized by vehicle-to-vehicle communication technology. Driver Assistive Truck Platooning technology will use communication between two or more trucks to transform the freight transport industry. Trucks will drive closely and at high velocity behind the platoon leader.
#8 – Crossover Vehicles
In recent years, crossover vehicles have become a hit with motorists who enjoy the comfort of an SUV with the operational and fuel cost-effectiveness of a sedan. Crossover vehicles deliver the perfect mix. In the near future, we can expect to see plenty experimentation and the introduction of more fun and sturdy crossover vehicles. This is one of the automotive industry trends that have consistently grown over the last few years.
#9 – Ride Sharing
Research has shown that people are less emotionally attached to their cars, and this has resulted in increased uptake of car sharing – a strong automotive industry trend, even in EMEA and APAC regions. This shift has been attributed to the constant drive to reduce carbon footprints.
According to Statista, ride sharing services will continue to improve the passenger’s experience with a variety of options to enhance their comfort, including drinks, snacks and music.
#10 – Multi-Terrain Vehicles for Millennials
Millennials dominate most markets, and they desire practical, affordable vehicles with high ground clearance and a raised driving position – perfect for handling urban congestion.
When it comes to operational ease and comfort, multi-terrain vehicles are the number one choice. With frugal fuel consumption, five door utility, high-end audio and heated leather seats, they are perfect for millennials. This automotive industry trend has increased revenues tremendously in the last few years, especially for manufacturers such as Seat, Peugeot, Kia, Hyundai and Ford, the leaders in the crossover niche.
#11 – Large SUVs for Baby Boomers
While millennials dominate most innovations, baby boomers are very much in the lead when it comes to the automotive industry. As the majority of baby boomers are nearing retirement, they want cars that enable them to travel on their own, comfortably.
With five-door configuration, a sizable trunk and more, baby boomers seem to prefer spending their money on large SUVs. Newer SUVs offer much improved fuel efficiency compared to the initial models that first hit the market. This is another bonus for frugal people who are thinking about their retirement savings.
#12 – 3D Printing
It is expected that we will see bigger investments from major vehicle manufacturers pursuing this automotive industry trend. Some big-name players in the automotive industry have followed in the footsteps of Local Motors, who first launched Strati. This revolutionary automotive industry trend is set to enhance the cost-effective nature and safety benefits of 3D printed cars.
#13 – Autonomous, Driverless Vehicles
Autonomous vehicles have been shown to increase passenger comfort, enhance traffic management, and reduce accidents.It’s no wonder this is one of the automotive industry trends companies focus on most. In the coming years, we will see fully autonomous, driverless vehicles from various automotive giants emerge onto our roads.
#14 – Electric Cars
In just two years, electric car sales have reached ten million units. Volkswagen, Daimler AG and General Motors have also staked a claim in this lucrative market by developing their own electric car models.
Electric cars continue to increase market share due to the decline of available non-renewable energy sources and this automotive industry trend is set to continue growing in the immediate future.
#15 – Innovative Key Designs
Believe it or not, but vehicle keys will see plenty excitement in the near future. Although some car manufacturers prefer to keep things simple – for now at least – companies like BMW remain on the cutting edge of automotive industry trends and innovation.
BMW introduced a futuristic new smart-key that features a 2.2″ touchscreen. Now you can check your A/C settings and vehicle service information right on your key.
Jaguar has a new option for active drivers who don’t want to worry about looking after keys. The new F-Pace Activity Key is a completely waterproof bracelet which can be used to unlock the car.
Volvo, on the other hand, is currently testing a keyless approach that would allow a smartphone app to manage a variety of vehicle functions.
Considering these revolutionary automotive industry trends, it is clear to see that vehicle technology is evolving at a rapid pace, and that innovation knows no bounds. Watch this space to learn more about how these trends will impact on the car shipping industry.