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Thursday, December 1, 2022

How the Automotive Industry Will Change in the Next 10 Years

In recent years, we have seen the rise of autonomous vehicles, electric cars, and self-driving technology. These technologies are undeniably changing the way people interact with their automobiles. As consumers become increasingly mobile, manufacturers are looking to develop new technologies to keep pace with changing consumer demands. Fortunately, with such a wide array of automotive software development services in the market, they can easily find an appropriate solution. 

In this article, we will take a look at the top five tech trends that will impact the automotive industry in 2022 and beyond. So stay with us, and let’s crush this awe-inspiring topic together. 

Big Data, Analytics, and Automotive Sector: Revealing the Connection

Flying cars, shared mobility, or even 3D printed automotive parts — it seems like plenty of exciting innovations are waiting for us just around the corner. Yet, today we are going to talk about big data & analytics, which are expected to become a stable technological foundation for diversified purposes, ranging from vehicle’s lifecycle to sales and marketing activities. For example, data collected from automobiles can become an excellent source for predictive maintenance, notifying managers about their fleets and cautioning concerned authorities in case of accidents. Moreover, while modern customers are already fed up with old and low-performing vehicles, big data & analytics enable automotive providers to adjust future cars to meet changing consumer preferences, therefore, streamlining their operations to maximize profit. Sounds like a promising technology, doesn’t it? Still, it is time to move to the next tech innovation that will undoubtedly blow your mind, we promise. 

Cars, AI, and Everything in Between

It is not a secret that automation is of paramount importance when it comes to the automotive sector. While traditional automation tools, for instance, a device designed to perform the same task over and over on an assembly line, often does not provide the desired results, artificial intelligence (AI) offers an entirely new approach to automation. AI has already become a buzzword across numerous industries for a while now, so the automotive industry is not an exception. In contrast to standard automation tools, AI analyzes data in order to efficiently react to various changing scenarios (which happen pretty often in the automotive industry). This distinctive feature makes AI a true universal soldier that not only can automate numerous processes but also may enable autonomous & low-emission vehicles, provide thorough quality control activities, and bring broader vehicle design and testing opportunities. 

Driving the Virtual Worlds

Virtual reality (VR) is one of the most exciting technologies to hit the market in recent years. It is already being used by many businesses, including car manufacturers. This technology allows people to experience driving on a computer screen, which could change how we drive cars forever. In addition to showing customers what a vehicle looks like, virtual reality also lets companies show them what it feels like to drive a particular model. This helps potential buyers visualize themselves behind the wheel and makes the process much easier. In addition to assisting companies in selling more cars, virtual reality has the potential to improve customer engagement. By immersing customers in a simulated environment, they feel as though they are actually there. This makes them more engaged with the brand and helps to form stronger relationships with the company.

Online Presence Is a Must 

Do you remember the times when we looked at the billboards with interest and excitement in our eyes? These famous automotive slogans and breathtaking pictures… Yes, that was truly amazing, but now it is just a relic of the past. Today people on the streets are not likely to look up. They rather look at the screens of their smartphones. At first glance, this tendency is pretty obvious, but it leads us to the next essential technology trend that impacts the automotive industry. While everything goes online, cars rapidly enter the digital universe. Think at least of gamified ads, interactive websites, or NFT, which transform vehicles into a digital property. Thanks to these multifaceted tech innovations, the automotive industry gains an entirely new, digitized form, which poses both challenges and opportunities. 

Blockchain-Powered Solutions

There are several benefits blockchain technology introduces to the automotive industry. First, it makes data more secure. Because blockchain uses cryptography, it’s impossible to hack into the system. This means that data stored on the blockchain cannot be altered or deleted. Second, it allows for transparency. With blockchain, everyone can see what transactions are taking place at any given moment. Third, it helps reduce fraud. Since blockchain records every transaction, it’s easy to spot fraudulent activity. Fourth, it reduces costs. By eliminating intermediaries, blockchain cuts out unnecessary fees. Fifth, it improves efficiency. Blockchain eliminates intermediaries, so it speeds up processes. Sixth, it creates trust. While blockchain is decentralized, people cannot manipulate the system. Finally, it provides better customer service. Blockchain is transparent, so customers know precisely how their money was spent.

On a Final Note

Time flies so fast when reading interesting tech insights. In today’s article, we have tried to predict what technologies will influence the automotive industry in the near future. However, many more things should be considered apart from blockchain, AI, global digitalization, big data, and virtual reality… Exciting innovations and trends are waiting for us in the automotive industry in the upcoming years – be it increased mobility and self-driving cars or powerful virtual features introduced by Metaverse. Just wait, and let’s find it out together! Yet, if you are not ready to wait, click here and be the first to enjoy unique technology insights.

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