The car market is transforming more rapidly than ever. Manufacturers must reconsider building, producing, and selling cars if customer demands and technologies change.
But, amid the enormous riots on the world market, competition in the car industry remains embedded in the ideals of comfort, protection, and performance that have long been applied. Precisely, these three dimensions determine how technology shapes this industry’s potential and enables producers to deliver on their brand pledge.
Safety
Car manufacturers do not lack consumer and product information as in other sectors. However, through diligent study and implementation, companies will use this knowledge to better consumers’ lives. In this scenario, automakers can turn vast data into alerts and guidelines to drivers, thus increasing comfort and protection using sophisticated onboard platforms and automated navigational systems.
For example, a heads-up display, a type of augmented reality that can be used to show speed, increase vision, and validate stopping distances on the windshield glass, provides valuable information for drivers while ensuring they stay entirely centered on the lane. Similarly, enhanced GPS in smartphones and vehicles made the positioning of a car much more accurate and allowed emergency responders to track a driver in times of crisis. Finally, these in-vehicle features can be connected to other vehicles, allowing vehicles to interact, making driving safer and more effective.
Technology also provided increasing essential self-operating options, including auto-freighting, lane changing, and car parallel parking. Safety is the beginning of a truly self-driving vehicle, such as conventional automakers and technology enterprises do, an idea that can remove human-made issues, reduce common traffic problems, and reduce the number of accidents.
Convenience
Digital disruption has caused significant changes in customer preferences – with a bit of exception for the car industry. Today, car manufacturers are not merely required to produce high-quality and durable cars; they can make the journey more accessible, convenient, and pleasant. Automakers have been responsible for the overall driving experience compared to only the vehicle or trunk by integrating significant safety and navigational features into cars.
For example, car manufacturers are experimenting with biometric technologies for entry to and monitoring cars, such as identical fingerprints and retina scans. Meanwhile, MIT develops tattoos connecting to mobile devices to adapt the vehicle’s features or share information through near-field technologies with other devices. With this embedded technology, drivers can seamlessly use the seats, weather conditions, music preferences, and previous destinations to reach their vehicles and automatically load preferences.
Connected automobiles may also offer drivers valuable statistics, including petrol rates, weather forecasts, station locations, and alternative roads. These features are secondary to the car’s construction and mechanics, but when buyers look for both uniqueness and customization, they help distinguish cars.
Efficiency
While vehicles for hybrid, plug-in, hybrid, battery, and fuel cell have long been launched, more technical advances have made these electricity sources even more common in recent years. A four-year MIT study found that today, electric vehicles will replace 90% of US vehicles and lower greenhouse gas emissions by 30 percent. According to the lobby organization Society of Electronic Vehicle Manufacturers, sales have increased by 37.5% in India, up to 22,000 units annually since March 2015 (SMEV). Lack of essential facilities such as charging stations and problems with bank credit for purchasing these vehicles are the barriers to the sector’s growth in most countries, such as India.
Although the feasibility and pace of the vehicles’ acceptance are determined by buyers’ understanding of driving preferences and ownership costs, car dealers are pressured to cut production and material costs, boost the charging system, and prolong the battery life. For example, fuel cells have resurfaced, as they have been used for water vapor as one potential solution to conventional vehicles. Fuel cell cars, including electric cars, have a cross-cutting infrastructure that requires gas refueling stations to be replaced with hydrogen – that means that at least part of the transition in the automotive industry is influenced least by the willingness and ability of other sectors to adapt.
Bottom line
The global automotive industry, driven by modern technologies, is ready for a big transition. Whereas automakers must face various new challenges, including constantly evolving consumer tastes and government demands, they can continue to concentrate on enhancing the driving experience through increased comfort, security, and productivity.
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