Car Talk
5 Automotive Industry Trends that May Surprise You
Technological Advancement is bringing a significant improvement in our life. It is continuously enabling new inventions and increasing the efficiency and ability of the current applications to achieve desired results. One of the sectors witnessing a drastic evolution through the onset of technical developments in the Automotive Industry.
From installing a front runner roof rack, the automobile industry has seen many advanced technological features like Cloud Computing, Internet of Things (IoT), Artificial Intelligence, etc, that are improving the end-user experience. These features are also enabling developments in the supply chain and Automobile manufacturing process.
Keeping pace with the technological innovations, here is the list of 5 Automotive Trends that is going to usher a new era of Automotive Industry.
Autonomous Vehicles
Autonomous self-driving cars are igniting a new hope amongst the futurists and technological enthusiasts. Deep expertise in robotics, artificial intelligence, computer vision, and edge computing capabilities is enabling massive research and development in this trend.
Heavy Computational capabilities along with the radars, ultrasonic sensors, cameras, etc. are enabling self-driven cars to recognize and maneuver around obstacles instantly. Autonomous Vehicles using computer vision, localization, and mapping capabilities for navigation is becoming a standard norm in many cities around the world.
Autonomous Vehicles are intensifying competition amongst the Auto Majors and technology companies around the world. Many Western countries are opting for self-driving cars as their preferred choice.
Vehicular Communication Systems
Vehicular Communication Systems create wireless networks that help vehicles and traffic infrastructure along the roads to communicate with each other. Innovative software works to create intelligent transport systems that provide safety warnings, avoid collisions, perform remote monitoring and manage parking systems.
Significant benefits arising out of Vehicular communication systems are:-
- Real-time traffic notification, including accident alerts and other warnings.
- Major warnings like collision warning, rear impact warning, forward collision warning along with lane change assistance and safety margins.
- Obstacle detection and reduce emission notification.
Vehicle Health Monitoring
Vehicle Health Monitoring is emerging as a new trend that makes use of the sensors and biometric identification systems to track the real-time location of the vehicles along with the health of the driver and driving behavior.
Receive phone updates regarding the Car health monitoring features like engine health, performance data, fuel levels, battery voltage, real-time location, and geo-fence alerts.
Iris and facial recognition technologies provide updates regarding the health state of drivers. Notifications regarding their fatigue, sleep deprivation, health status are available on the mobiles. Also, with the help of monitoring devices, you can track incidents of over-speeding, engine idling, sudden brakes, and accelerations.
Pollution-Free Mobility
The automotive industry in recent years has seen a phenomenal boost in the implementation of greener and sustainable technology. Cars that consume less energy and enhance fuel efficiency are providing high-performance and effortless and comfortable driving.
Environmental friendly hybrid and electric cars with high-storage battery loading panels and green rubber tires are leading the way for zero emissions and environmentally conscious vehicles. Due to the added benefits of less operating cost and no trips to gas stations, Electric vehicles are emerging as the vibrant option. They are also amongst the cleanest rides on the road.
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Usage-Based Insurance
Usage-based insurance is a new form of auto insurance that calculates premium based on the driving behavior of the driver. The insurance company makes use of the telematics device installed in the vehicle’s on-board diagnostics port to record the data and calculate the premium by analyzing that data.
Internet-of-things (IoT) led devices, enable companies to look for certain factors like speed, vehicle usage, time, braking, acceleration, etc. These factors decide the driving behavior and enable users to get discounts on their auto insurance premiums.
There are certain types of usage-based insurance like:-
- Pay-as-you-drive
- Pay-how-you-drive
- Manage-how-you-drive
- Distance-based insurance
Usage-based insurance helps encourage safe driving behavior amongst the drivers resulting in fewer accidents and overspeeding control. Added discounts and lower rates for lower miles are enabling insurance companies to form better relationships with their clients.
Conclusion
The current and upcoming technological trend is encouraging automobile manufacturers to implement comprehensive technological innovations in their automobile manufacturing. Innovative ideas are rapidly transforming and evolving the growth of the automotive industry. Cutting edge production techniques along with the use of 3D printing, are ushering an era of mass production in a relatively quick time.
Companies functioning in the area of the automotive industry should be able to implement the upcoming digital and technological trends to maximize their profits and fulfill the ever-evolving needs of their customers.
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