Published on: 18/August/2021
Automotive industry research is conducted every year to find out the most accurate market insight of the automotive industry. The automotive industry is adopting new technologies everyday such as artificial intelligence, big data, analytics, the internet of things, blockchain, etc. In August 2021, the highest ever monthly sales were recorded for electric vehicles as they stood at 92% for both two and three-wheelers.
We also found out that automobile industry trends have been following innovations and technologies. If you look deeply into automotive market research reports, we will find that connectivity, shared mobility, electrification, autonomous vehicles, technical documentation, and the internet of things are some of the traits that have impacted the automobile industry in a few years.
Let us look into the market insights of the automotive industry in 2021.
Self-driving vehicles or autonomous vehicles will lessen the need for human drivers, and it will be one of the most significant transformations for commercial automobiles. It will solve multiple problems like last-minute delivery, quicker public transportation, and accidents due to driver negligence. Driverless cars will use recognition technologies such as artificial intelligence-based computers that identify obstacles in the route.
Connectivity is one of the major concerns for automobile consumers of 2021. So, automakers have equipped their cars with the latest technologies like voice-controlled systems, safety sensors, and GPS trackers. This is one of the reasons for the growth of automotive industry sales.
More people today want to adopt electric vehicles as they are moving towards sustainability. Although today’s electric cars are costly and do not have great batteries and adequate charging infrastructure, it is expected that automakers will soon address these problems, and most consumers will own an electric vehicle.
Technologies like machine learning, deep learning, and robotic drivers are in popular demand. They will reduce human work and bring one of the significant innovations in the automotive industry. In addition, it will accelerate the rate of production and help reduce the cost giving everyone a chance to own at least one vehicle.
The automotive market analysis explains that this innovation has multiple applications in the automotive industry, including shared vehicle data and shared mobility solutions. It also finds applications that help find the supply chain of spare parts, ensuring that raw materials and spare parts are bought from legal and trusted sources.
Internet of things
In the automotive industry, IoT ensures secure communication between vehicles and infrastructure components. This technology reduces pollution, improves the safety on the road by removing driver recklessness, and meets energy expenditure.
Self-driving cars will also change the behavior of how drivers interact with vehicles. The human-machine interface will have an AI voice-based command to operate electric vehicles or normal vehicles, making the driving experience safer and enjoyable. It will also include an intelligent virtual driving assistant that will help riders to interact with drivers.
Data analytics is the growing need of today as it provides the manufacturer with the actual big data all over the globe. It will help the automotive industries have a clear look at yearly sales, the needs of new cars, help to optimize supply chains, and enhance product designs as per the demands of customers.
3D printing will find the most proper uses in auto manufacturing. It will enable rapid prototyping with 3D models to help the manufacturers produce a precise output to the design. It will also allow manufacturers to understand the design of spare parts to be more authentic and trusted.
The automotive market overview is that all these technologies will build the automobile sector. As customers raise demands in innovations, automakers ensure to meet them. So soon, we might see all these technologies on the road.