Information-centric technologies are playing a key role in the future of the automotive industry. The automotive industry is adopting new technologies in its operations at an unprecedented scale.
The market for the autonomous industry had declined from $24.1 billion to $23.3 billion due to the crisis happening in the market. Experts are confident that the automotive industry will bounce back to its heights and reach up to $37.22 billion by mid-2023. Aside from that, car enthusiasts were monitoring the latest car innovations to grab the best vehicle for their needs.
Autonomous or self-driving vehicles aim to transform everyday transportation by minimizing the need for human drivers. Autonomous vehicles expand the scope of last-mile deliveries, reduce downtime and aim to make transportation safer. Audi AG, BMW AG, Mercedes Benz Daimler AG, Ford Motor Company, General Motors, Google LLC, Honda Motor Corporation, Nissan Motor Company, Tesla Inc, Volvo Car Corporation and Volkswagen AG are some of the key players in the self-driving vehicle market.
Vehicles nowadays are coming with a tamper-proof digital identity that differentiates them from other vehicles that overhaul the entire mobility ecosystem that enables easy tracking of vehicle data for various use such as driver safety, predictive maintenance, insurance and fleet management.
The call for an environment-friendly solution continues to mount as climate change becomes an increasingly pressuring issue and the depleting fossil fuel reserves. Companies are making steps towards an electric future. Tesla Model 3 became the all-time best selling EV globally. Tesla is the first automaker to hit million electric vehicle milestone.
Internet of Things
Internet of Things enables secure communication between vehicles as well as between vehicles and infrastructure components to improve road safety, solves traffic congestion, reduces pollution and energy expenditure with better fleet management. Hyundai venue and Chinese owned MG Hector were some affordable internet-connected cars in India.
Carmakers such as Tesla makes use of AI technologies for their self-driving cars, which helps to reduce road accidents by interpreting the vehicles speed and how close is it to other cars.
Human Machine Interface
HMI or Human Machine Interface is another trend in the automotive industry. An example of HMI is controlling the car using one’s voice or by haptic feedback.