The automotive market is being challenged on many fronts; these developments can be categorised as C.A.S.E. The industry is adopting technologies such as Artificial Intelligence (AI) and big data & analytics that have been around for a while, and newer technologies such as the Internet of Things (IoT) and blockchain are also finding numerous applications in the automotive sector. Urban areas are destined to see the . Recently, analysts at NVIDIA declared MegatronLM, a huge transformer model, A brief overview of how UAE is preparing its citizen, Throughout the past few years, eWallets have become a go-to. Here is our pick of the top 20 trends that we believe will shape the future of the auto manufacturing industry in a Covid ... 30 Under 30 2021. Is The UAE Tech Market Ready to Conquer Digital Age? During the autumn of 2020, motor manufacturers drew up their 2021 budgets and therefore looked to the trends and predictions for the coming year. Hence, diesel engines are more detrimental to air quality and people’s health. Your e-mail address will not be published. Explore our industry themes to learn about crucial trends and strategic options. Tony has worked in the automotive industry for more than 35 years, holding senior positions with Renault, Toyota and Hyundai. It can be utilized in management and incentives to improve vehicle information and usage data across the industry. During the autumn of 2020, motor manufacturers drew up their 2021 budgets and therefore looked to the trends and predictions for the coming year. These measures are penal in certain territories and will increase in 2021. Personal consumption of auto parts in August 2020 was up 10% from August 2019. 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. Also, OEMs will aim to reduce dealer margins, resulting in price maintenance for the customer but in significant margin reduction for the dealer. 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. 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. IoT is now everywhere and the car is just an extension of the consumer’s domain. The “cliff edge” of COVID meant that sharing became an anathema overnight. The impact to the industry is that OEMs will have to achieve the low carbon targets or suffer significant financial penalties. Industry Top Trends 2020: Autos We expect no revenue growth for the industry in 2020 and 2021. 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. a very positive impact on sharing concepts. The global 2021 automotive market is anticipated to grow to around 77 million, a 10% increase. 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. For the first time in these last few months, the Indian auto industry has reported a single digit decline of just over 1% in passenger car wholesales, with 198,000 units being shipped last month compared to 200,500 units in the same period last year. One technology that is helping to meet these challenges is 3D printing. Whilst diesel vehicles have a lower CO2 output than their petrol counterparts, the nitrogen oxides (NOX) and particulates are usually higher. Your data will be safe!Your e-mail address will not be published. Also other data will not be shared with third person. Meeting Consumer Expectations 2020 has been a brutal year for many industries, including automotive, with margins and overall profitability under severe threat. They’ve turned sleeker, safer and capable of higher speeds. The US light duty automotive aftermarket industry size is $282 billion in 2020, down about 8% from 2019 due to COVID-19. The Future of Mobility – A Q&A with Tony Whitehorn, The Endava Experience | Julian Bull | 18 December 2020, Next Gen Insights | Robert Anderson | 15 December 2020, The Endava Experience | Rob Machin | 08 December 2020, Mobility | Tony Whitehorn | 03 December 2020, Next Gen Insights | Helena Nimmo | 25 November 2020, Innovation | John Cotterell | 18 November 2020, Mobility | Pascal Binkert | 03 November 2020, Next Gen Insights | Paula Mazzotta | 27 October 2020, Next Gen Insights | Eoin Woods | 20 October 2020, Celebrating 20 Years of Endava – with Julian Bull, Insurance Industry Trends from DIA Prime Time, Celebrating 20 Years of Endava – with Rob Machin, Trends in the Automotive Industry for 202, Approaching-2021-technology-becomes-the-business, What 2020 Has Taught Us About Leadership – A Q&A with a CEO, Insights from InsureTech Connect Global 2020, Revisiting Digital Transformation Mistakes, Ada Lovelace Day: Celebrating Women in STEM, Still Rising: The Need for Visibility in the Supply Chain, 3 Tips for Thriving in the Era of Digital Necessity, MPE Summer Week Recap – a Seismic Shift in the World of Payments, Remote Working: The Good, the Bad and the Ugly, Strengthening Supply Chains by Understanding Digital Breakages, What's Next in Digital – Predictions from the CxO, The Rise of Human to Human Customer Experiences, Gaining Insights with Predictive Analytics, Advice for running in-person and virtual hackathon events, Automation in the Age of Digital Necessity, The impact of M&A on technology and security, The Value of Writing as Part of the Design Process, Understanding the gender gap in the tech industry, 7 tips for successfully transitioning to a fully remote team, The Four Pillars of Truly Digitised Organisations – Part 2, The Four Pillars of Truly Digitised Organisations – Part 1, Understanding authentication and open banking as a soft POS reality approaches, Data Privacy in Healthcare - A Q&A with Dan Pelos, Celebrating Twenty Years of Reimagining the Relationship Between People and Technology, Nick Telford-Reed Shares His Predictions On Three Topics Ahead Of MPE. Any 1st- or 2nd-tier business overly reliant on one client will have little ability to rebuff such price reduction pressure from them. Many commentators would agree that a fully autonomous car is not going to be a day-to-day reality for another 30 years. They will have to concentrate on their core competency: making great cars. The automotive industry is always facing a demand for new vehicles and spare products. The sector has seen unprecedented twists and turns in the past ten years. 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 These cars do not require drivers and rely on sensors and software for navigation and control. This includes sharing vehicle data over a secure network for connectivity and shared mobility solutions such as ride-hailing, urban transportation and deliveries. It has the ability to transform an organisation’s processes. Yet, complete price parity is not anticipated until 2050. 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). News Summary: Guavus-IQ analytics on AWS are designed to allow, Baylor University is inviting application for the position of McCollum, AI can boost the customer experience, but there is opportunity. A consecutive year of such an attack on the “bottom line” will be disastrous to many organisations’ futures and that of their stakeholders. Save my name, email, and website in this browser for the next time I comment. There are several disruptive trends and automotive industry challenges poised to transform the automotive and auto repair industry outlook for 2021 and beyond. | Tony Whitehorn | 03 December 2020. Must-Try Automotive Digital Marketing Trends for Your 2021 Strategy Digital marketing for the automotive industry is constantly changing and becoming more complex. Copyright Endava 2020. However, this is expected to change in 2021. OEMs will want to obtain data and, for example, predict car failures in order to reduce warranty costs. 2020 has been a brutal year for many industries, including automotive, with margins and overall profitability under severe threat. All Rights Reserved. For this reason, the nuances and developments within the industry will be of great significance next year. The used car business has emerged as a key growth catalyst for the automotive industry. The Auto Physical Damage Edition: Five Automotive Trends to Watch in 2021. So far, 81% of the buyers are not okay with buying new or old cars online. Platforms and Partnerships: Will MWC reveal the new ecosystems needed to exploit 5G? Blockchain is used in the verification process to improve efficiency across supply chain and back-office works. The industry includes both OE and aftermarket parts, equipment, service, and collision repair to name just a few. 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 … Even though when it is not a big number, the change of mind in people to go for or trust autonomous vehicles is drastically increasing. How would you rate your experience with Endava so far? Electric cars on the other hand are addressing the challenges by leveraging a higher level of energy efficiency and reduced fuel usage. 2021 will be a highly customer-centric year, and they will expect greater integration between their car and personal device. Energy and industrials trends in 2021. The Auto Physical Damage Edition: Five Automotive Trends to Watch in 2021 COVID-19 is transforming the automotive industry and pushing organizations to reimagine how they do business. Meta description: From an increase in personal vehicle ownership to a renewed focus on glass repair, learn what automotive industry trends the Mitchell team is tracking in 2021. Autonomous vehicles were in vogue and highly anticipated during 2016-2019. All rights reserved. They will integrate leisure activities into their mobility activities, thereby eroding the silos of various industries. 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. 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. However, OEMs are hampered by legacy systems and are not agile enough to fulfil all these needs. Across various regions, this will mean a move away from the franchise business model and towards an agency structure. Aside from its extensive use for rapid prototyping, the technology is also being used to produce tooling and end parts. 2020 will see a decline in the global passenger and commercial vehicle market of approximately 23% to 70 million units. However, these figures are littered with COVID caveats. India’s domestic auto industry may have turned the corner, with monthly declining trends flattening out, suggest July sales reports. The automotive industry has traditionally been a forerunner in technology adoption and this continues. Digitisation has become key in every industry; automotive is no exception. Why Machine Learning Models Should be Smaller in Size? ... 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. Customers will demand seamless movement between car, bike, scooter, train, and any other form of transportation via their personal devices. However, the industry is starting to rebound and gives an array of hope to everyone. Whilst this will return eventually – and when it does it will escalate at an exponential rate – it will not be a priority until a vaccine is widely available and/or the threat of a pandemic re-occurrence has passed. 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. With factory utilisation being challenged and the revenue development being uncertain, the overarching theme of 2021 will be cost reduction. Artificial intelligence is already enabling smart travel methods through self-driving cars. AI-based autonomous vehicles are the frontrunners in the automotive industry. Could you share with us your contact details? Organisations in the supply chain have little capacity in their reserves to sustain another financially challenging year. The haggling process at the dealer will be removed as the margin will be too low to allow for this. The car will need to communicate with the customer’s personal digital device and have telemetry integrated into its architecture. The global used car market is poised to boom driven by COVID-19 and the subsequent market realignment in 2021. 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. Still, for greater adoption and people’s acceptance, electric vehicles need to come up with solutions on high price, poor battery, inadequate charging infrastructure, fleet electrification and renewable energy-based charging grids. No aspect of the mobility industry has remained untouched by the COVID-19 outbreak. Explore our trends series. 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. More than 70% of all cars built in 2020 will have telematic capability and therefore the capacity to be connected to the OEM, dealer, other cars, smart cities, etc. Trends in the Automotive Industry for 2021, Digital Challenges and Chances in the Automotive Industry. The pandemic has led to a change in consumer behavior, even in the automotive industry – ride-sharing has declined while interest shifts to short-term car ownership and other connected driving products. Cars contribute to 15% of carbon emissions, which deplete precious fossil fuel reserves and causes potential irreversible environmental damage. For instance, integrated navigation systems will decline, with geo-functional apps from the consumer’s phone connecting with the car instead. This trend will further increase in 2021 with nearly every new car having this functionality. 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. The automotive industry has long been a place where industrial and tech sector disrupts to make innovative solutions. Studies reflect that there are around 1,400 self-driving cars on the US roads today. Read more Over the past 10 years, legislation has focused on carbon emissions to tackle the environmental issues, with CO2 from the tail pipe being the main KPI. 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. AI-based autonomous vehicles are the frontrunners in the automotive industry Customers will want – no, expect – the ability to transact entirely online and require sales and service automation. Whilst the total volume is important, the pandemic creates too many unknowns. Tech Trends in Automotive Industry: 2021. About Us; News and Articles. We’ve combined the insights from more than 3,500 CEO interviews with expert analysis to produce a series of reports across industries and critical topic areas. How Have eWallets Changed Online Casinos? This will result in amalgamation or liquidation of some organisations and in a reduction of future technology investment by supply chain members. Customer-Centricity MaaS technology – multiple extensions or a complete overhaul? In order to remain relevant and deliver conversions — leads, subscribers, and sales — it’s essential to be in the know about the latest trends. However, the industry is starting to rebound and gives an array of hope to everyone. The thirst for newer, better performing vehicles, as well as the need to optimize production and streamline supply chains and logistics, is also spiking. However, despite such government actions, a dramatic increase in the demand for BEVs during 2021 is unlikely. 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. 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. Approaching 2021 – Technology Becomes the Business. In this edition, Mitchell explores five key automotive trends and predictions that will impact claims and collision repair in 2021. When he isn’t working, he loves playing and watching sport, volunteering with his church and spending time with his family. 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. Government Intervention 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. Ultimately, just like how McKinsey reported in 2016, the auto industry is gradually moving towards the future age, wherein automakers will find themselves generating more revenue and users will find themselves enjoying innovative driving solutions. Thus, the margins made in 2020 will be further threatened in 2021. Also other data will not be shared with third person. Henceforth, Analytics Insight brings you a list of tech trends that will dominate the automotive industry in 2021. 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? Commencing in 2021, this will fundamentally change the relationship with the dealer network. Big players like Tesla, Google, Uber are strongly pushing the limits of autonomous cars, making it more reliable. COVID-19 is transforming the automotive industry and pushing organizations to reimagine how they do business. Costs for OEMs and Consumers He is passionate about helping businesses succeed through collaboration, embracing change and empowering their people. However, the investment involved to escalate the technologies required are significant. Mitsubishi in Europe). Instead of venturing into other domains, they should leverage the expertise of third parties in those areas instead. Firstly, they are almost 30% more expensive to produce than their internal combustion engine (ICE) counterparts. – Five trends transforming the Automotive Industry The increasing penetration of autonomous vehicles will have . China could become the leading market for . Regulations in Canada, China, India, and many US states are escalating in 2021, employing a mixture of policies that tax more highly polluting vehicles and incentivise BEVs. However, the Covid-19 pandemic was a big hit which temporarily staggered the improvement of self-driving vehicles. : The industry needs to prioritise its focus, as it does not have the resources to capitalise on all these areas simultaneously. 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. With the accelerated digitisation of the world, the automotive industry is gearing up to an enormous change in 2021. The futuristic view of selling automotive vehicles online came to effect during the coronavirus pandemic. The entire aftermarket including medium- and heavy-duty is about $381 billion in 2020. Autonomous vehicles are aimed to reduce the need for human drivers and make everyday transport easy. At a glance: important auto aftermarket trends for 2020-2021. There are two significant reasons for the slow uptake in battery electric vehicles. Blockchain has been likened to the second generation of the internet. Customer-centricity will become the driver in the auto industry in 2021. Europe has set targets for 2020 of an average of 95g/km of CO2 for 90% of the vehicles, which will increase to 100% in 2021. Similar Posts From Self-Driving Cars Category. Worldwide, the Automotive Aftermarket Parts Industry is forecast to achieve $723 billion in sales by 2021. State of the Fleet Industry: Forecast of Fleet Trends into Q1 2021. 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. But 2020 was a slow year with not many people buying cars during the Covid-19 pandemic period. We would appreciate talking to you about your feedback. Powered by Sitecore. And it will not be a priority for 2021. 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