When he isn’t working, he loves playing and watching sport, volunteering with his church and spending time with his family. Is The UAE Tech Market Ready to Conquer Digital Age? He is passionate about helping businesses succeed through collaboration, embracing change and empowering their people. Platforms and Partnerships: Will MWC reveal the new ecosystems needed to exploit 5G? Certain manufacturers will look at specific markets that have penal BEV targets in 2021 and will opt to vacate their presence, realising that there is no long-term business proposition (e.g. Your data will be safe!Your e-mail address will not be published. Therefore, it does not look like it will happen anytime soon. However, despite such government actions, a dramatic increase in the demand for BEVs during 2021 is unlikely. widespread proliferation of shared and electric vehicles. Still, this leaves the BEV significantly more expensive than an ICE car, which means that OEMs are not keen to increase BEV production from a business perspective. However, this drove the industry to gravitate demand towards diesel-powered vehicles in certain territories across the world. Electric cars on the other hand are addressing the challenges by leveraging a higher level of energy efficiency and reduced fuel usage. The car will become less of a high-tech consumer environment but will become a portal for the consumer to connect with their own device. ... With the possibility of increased restrictions in areas of the country with rising caseloads, auto industry managers and owners would do well to be prepared for another potential decrease in miles driven and corresponding consumer spend in the aftermarket. There are several disruptive trends and automotive industry challenges poised to transform the automotive and auto repair industry outlook for 2021 and beyond. They’ve turned sleeker, safer and capable of higher speeds. Tech Trends in Automotive Industry: 2021. Worldwide, the Automotive Aftermarket Parts Industry is forecast to achieve $723 billion in sales by 2021. The sector has seen unprecedented twists and turns in the past ten years. While what the 2021 auto industry will hold is yet to be determined, by continuing to adapt to industry and dealership trends, evolve to changing customer demands and focus on driving profitability, dealers are already beginning to take control of their future success. The move to increase the supply of battery electric vehicles (BEV) is being driven by an almost global desire and need to tackle climate change. AI-based autonomous vehicles are the frontrunners in the automotive industry The futuristic view of selling automotive vehicles online came to effect during the coronavirus pandemic. Secondly, consumers are reticent about investing in BEVs because of range anxiety, charge times, charge availability, and – because of the factors shown above – their comparatively expensive price. In light of this demand and the cost-conscious environment of 2021, the biggest return for “smart players” in the auto industry will be in the area of connectivity. A consecutive year of such an attack on the “bottom line” will be disastrous to many organisations’ futures and that of their stakeholders. The haggling process at the dealer will be removed as the margin will be too low to allow for this. But 2020 was a slow year with not many people buying cars during the Covid-19 pandemic period. So, let’s look more closely at some of the upcoming challenges, their impact on those in the ecosystem and on end customers, and most importantly, what the OEMs can do about it? If the pandemic continues to roil the auto market, the industry is expected to sell around 75 million units in 2020, down from about 90.3 million light vehicles in 2019. Mobility | Tony Whitehorn | 03 December 2020 During the autumn of 2020, motor manufacturers drew up their 2021 budgets and therefore looked to the trends and... | December 3, 2020 Any 1st- or 2nd-tier business overly reliant on one client will have little ability to rebuff such price reduction pressure from them. Impacts Across the Ecosystem Must-Try Automotive Digital Marketing Trends for Your 2021 Strategy Digital marketing for the automotive industry is constantly changing and becoming more complex. As a result, cost-cutting will escalate even further, factories will have to review their future, manufacturers will look to increase their joint venture developments in electrical technologies, and further manufacturer amalgamation will occur. Could you share with us your contact details? Customer-Centricity Customers will demand seamless movement between car, bike, scooter, train, and any other form of transportation via their personal devices. AI-based autonomous vehicles are the frontrunners in the automotive industry. In August 2020, there were over 1.6 million electric vehicles on the US road, which is exponentially higher than the expected 1.4 million by 2024. How to Create a Company Culture that Encourages and Withstands Failure. Even though when in-person visiting to dealership stores and trial driving was a mandatory part of buying a car, the lockdown protocols that limited the move switched its track to online medium. Car ownership was gradually morphing into car usage as millennials questioned the necessity to own a depreciating asset that was being used only 4% of the time. Personal consumption of auto parts in August 2020 was up 10% from August 2019. The US alone accounts for $296 billion. All rights reserved. The 10 Most Innovative Big Data Analytics, The Most Valuable Digital Transformation Companies, The 10 Most Innovative RPA Companies of 2020, The 10 Most Influential Women in Techonlogy, Who Should be Responsible when Robots and AI Cause Accidents, Cognitive AI and the Power of Intelligent Data Digitalization, Distributed Cloud to Define the Future of Work, Guavus to Bring Telecom Operators New Cloud-based Analytics on their Subscribers and Network Operations with AWS, Baylor University Invites Application for McCollum Endowed Chair of Data Science, While AI has Provided Significant Benefits for Financial Services Organizations, Challenges have Limited its Full Potential. However, as BEV production increases and economies of scale become a reality, price disparity with their ICE equivalent will eventually be reduced – the development of cheaper batteries will also be a contributing factor here. How would you rate your experience with Endava so far? The used car business has emerged as a key growth catalyst for the automotive industry. Government Intervention Meeting Consumer Expectations Industry Top Trends 2020: Autos We expect no revenue growth for the industry in 2020 and 2021. The US light duty automotive aftermarket industry size is $282 billion in 2020, down about 8% from 2019 due to COVID-19. From the much-awaited self-driving cars to the channels by which cars are nowadays sold, here are the five most significant tech trends that will get bigger in 2021 and influence the automotive industry … All ... roundup of the top automotive trends … Blockchain is used in the verification process to improve efficiency across supply chain and back-office works. The global 2021 automotive market is anticipated to grow to around 77 million, a 10% increase. Approaching 2021 – Technology Becomes the Business. They will have to concentrate on their core competency: making great cars. From fractional ownership to hourly/minute rental to ride sharing. One technology that is helping to meet these challenges is 3D printing. Vehicle buyers are able to compare different car models unlike going on with the dealer’s suggestion. 2021 will be a highly customer-centric year, and they will expect greater integration between their car and personal device. It can be utilized in management and incentives to improve vehicle information and usage data across the industry. These cars do not require drivers and rely on sensors and software for navigation and control. Customers will want – no, expect – the ability to transact entirely online and require sales and service automation. Urban areas are destined to see the . Autonomous and Sharing Not a Priority 3D printing technology is being explored across all areas of automotive production. Modern dealerships are trying to normalise online car buying by offering provisions starting form virtual tours to secure checkout, online financial options and returns policies. Blockchain has been likened to the second generation of the internet. AI-based autonomous vehicle. Yet, complete price parity is not anticipated until 2050. However, these figures are littered with COVID caveats. Your e-mail address will not be published. This includes sharing vehicle data over a secure network for connectivity and shared mobility solutions such as ride-hailing, urban transportation and deliveries. For instance, integrated navigation systems will decline, with geo-functional apps from the consumer’s phone connecting with the car instead. In order to remain relevant and deliver conversions — leads, subscribers, and sales — it’s essential to be in the know about the latest trends. © 2020 Stravium Intelligence LLP. The thirty second State of the Fleet Industry video produced by Automotive Fleet offers an updated look at the state of the fleet market as presented by AF Editor Mike Antich for the week of Nov. 23, 2020. At a glance: important auto aftermarket trends for 2020-2021. Dealers will look to increase their revenues via aftersales and used cars, and to supplement their new-car profit via multi-franchise facilities (many brands under one roof) instead of single-brand operations. In order to mitigate the diesel increase, regulatory intervention has been necessary to drive supply and demand towards BEVs. The Auto Physical Damage Edition: Five Automotive Trends to Watch in 2021. This State of the Fleet Industry video is sponsored by: The twenty sixth State of the Fleet Industry video produced by Automotive Fleet continues to offer an updated look at the state of the fleet market as presented by AF Editor Mike Antich for the week of Oct. 12, 2020. IoT is now everywhere and the car is just an extension of the consumer’s domain. And it will not be a priority for 2021. Big players like Tesla, Google, Uber are strongly pushing the limits of autonomous cars, making it more reliable. Autonomous vehicles were in vogue and highly anticipated during 2016-2019. No aspect of the mobility industry has remained untouched by the COVID-19 outbreak. In 2019, car sharing was starting to gather momentum. 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Governments will start to focus on compensating a decline in fuel tax due to the increasing electrification with a tax based on vehicle usage, which will require connected car technology. Tony has worked in the automotive industry for more than 35 years, holding senior positions with Renault, Toyota and Hyundai. The increase in fossil fuel rate and the harm to the environment caused by their use has changed the automotive industry outlook to electric vehicles (EVs). – Five trends transforming the Automotive Industry The increasing penetration of autonomous vehicles will have . Car manufacturers should collaborate with nimble partners, as it will enable them to accelerate connectivity by quickly leveraging success stories from other industry verticals. The “cliff edge” of COVID meant that sharing became an anathema overnight. Also, OEMs will aim to reduce dealer margins, resulting in price maintenance for the customer but in significant margin reduction for the dealer. Why Machine Learning Models Should be Smaller in Size? Explore our trends series. China could become the leading market for . With the autonomous vehicle industry estimated to be worth US$556 million by 2026, investments will likely continue to pour in, especially as further applications are explored. We would appreciate talking to you about your feedback. MaaS technology – multiple extensions or a complete overhaul? This trend will further increase in 2021 with nearly every new car having this functionality. Finding ways to facilitate agile and flexible solutions will be essential to keep pace with customer expectations and dynamic, software-led OEMs such as Tesla. The automotive market is being challenged on many fronts; these developments can be categorised as C.A.S.E. The impact to the industry is that OEMs will have to achieve the low carbon targets or suffer significant financial penalties. Many commentators would agree that a fully autonomous car is not going to be a day-to-day reality for another 30 years. In addition, greater price transparency and an increase in direct online sales could lead to the dealer becoming a handover facility. Trends in the Automotive Industry for 2021, Digital Challenges and Chances in the Automotive Industry. Top 20 B.Tech in Artificial Intelligence Institutes in India, Top 10 Data Science Books You Must Read to Boost Your Career. The disruption of blockchain in automotive is anticipated to increase in the upcoming year. To make these cars more accessible to the general public, motor manufacturers have had to reduce their margins substantially; some manufacturers are even taking a net loss on such cars in an effort to increase demand for BEVs. Hence, diesel engines are more detrimental to air quality and people’s health. How Have eWallets Changed Online Casinos? However, this is expected to change in 2021. 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