Path-breaking trends in the auto industry will be taking center stage with a lot more investments and innovation from stakeholders in the sector. So, if you are part of the automotive industry, the following top 6 upcoming trends in cars will define your business strategy for 2018 and beyond.
1. IoT is sparking the evolution of connected cars.
Connected devices in general and IoT are making their way up into the automotive segment. It’s anticipated that connected cars will step out of developing obscurity to become a significant personal element to be connected to the internet. Although the technology in itself is not new, the rate of adoption of connected vehicles will rise bit by bit over the next few years.
2. Cloud-powered cars
The use of cloud technology is a major upcoming trend in cars. Cloud facilitates scaling of various services and process, from operation and design to servicing of physical components, therefore, eliminating any scope of waste and reducing costs. Hence, for 2018 and beyond, the automotive industry will take more determined steps to assimilate their design and engineering work with the cloud.
3. Better pricing with blockchain proficiencies.
Dealing with counterfeit parts is a major challenge for the car industry. The emergency of blockchain and its capabilities is setting up the stage to rectify this problem. Blockchain will bring transparency into the system and enhance the overall pricing strategies by facilitating the ways of identifying and removing counterfeit parts. In fact, experts in the industry believe that blockchain will, in due course, introduce fair pricing in the car market.
4. Electric cars – Doing away with the automotive effect on the environment.
Sales for electric cars have reached about 10 million units since 2016. The major push for the production of electric cars is the decreasing reservoir of non- renewable energy sources. The sale for electric cars in 2018 is expected to reach 12% and 5% in the U.S and U.K markets respectively.
5. Driverless autonomous vehicles
Autonomous vehicles are definitely an upcoming trend in cars. With benefits such as enhanced traffic management, reduced accidents, and enhanced passenger comfort, the driverless vehicle is most likely the highlight of future automotive technology.
6. 3D Printing – evolving automotive manufacturing process
As a result of the cost-effective nature and safety benefits of 3D printed cars, various manufacturers are considering investing on this method. The consumers will also benefit from reduced prices as a result of low production costs. Therefore, 3D printing will surely change the face of automotive manufacturing.