The automotive industry is one of the most dynamic business segment. This sector also witnesses large focus, innovation and development of path-breaking technologies.
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The automotive industry is one of the most dynamic business segment. This sector also witnesses large focus, innovation and development of path-breaking technologies. Automotive technology is the study that incorporates various technologies into the production of automobiles. Technologies such as cloud computing, IoT, hybrid vehicles, electric cars, 3D printing, autonomous vehicles etc. are shaping the current trends in the industry.
There are various factors which are propelling the huge growth of the automotive technology market. Firstly, the need for more fuel-efficient rides. With more than 2 million electric vehicles sold worldwide in 2016, this figure continuously increasing on a y-o-y basis as more automotive manufacturers implement the electric vehicle technology in their products. Secondly, Artificial intelligence (AI) and machine learning (ML) are playing important roles in enhancing the predictive capabilities in automobiles for personalizing the driving experience. Thirdly, while much has been said about autonomous driving, and while some players are continuously testing their self-driving functions on roads, we are still quite far from the wide adoption of these cars.
Hence, the bottom line is that automotive technologies, with the amount of value they bring into the chain, are surely one of the areas to look ahead in the future. Big data and AI will be playing an essential role in the realization of this aim.