Midyear 2020 outlook: Understanding new manufacturing industry trends This year began with the manufacturing industry just starting to gain some momentum when the COVID-19 pandemic hit. At this point, luxury will reinvent itself, manifesting as âdigitalâ experiences. Data gathered from vehicles enables predictive maintenance, informs managers about their fleets, and alerts concerned authorities in case of accidents. Fri., Jan. 3, 2020 timer 3 min. Connectivity, autonomy, shared mobility, and electrification of vehicles (CASE) remain the defining megatrends in 2020, with all automakers focusing on either accelerating or consolidating their advances in these fields. Usage Based Insurance for Vehicles. The platform runs on distributed ledger technologies (DLTs) and allows for a high degree of scalability. The organization’s 2018 report says that the automakers in the country have exported vehicles and parts worth over $692 billion over the past five years. The Tree Map below illustrates the top 10 automotive industry trends that will impact companies in 2020 and beyond.Â Emerging companies are working to build the first fully autonomous vehicle for city roads, which in turn accelerates the advancements in-vehicle connectivity and IoT. ), while auction prices for used cars are on the up and up. Hertzâs collapse is symptomatic of the marketâs decline. Download report (4.2mb) Five trends transforming the Automotive Industry Covering more than 1.116.000 startups & emerging companies, we use our proprietary StartUs Insights Platform to identify innovative applications and solutions that will impact the automotive sector in 2020 and beyond. Learn more in our Global Startup Heat Map! The last five years have, in general, been a success story for the automotive industry. 3D printing helps the automotive industry in three primary ways. The startup’s technology utilizes hash codes to block malicious attacks or hacking attempts on autonomous cars and connected cars. With connected vehicles, new business models have come up that focus on shared mobility as an alternative to traditional vehicle ownership. The startup works with automotive original equipment manufacturers (OEMs) to decrease HMI development cycle time and enhance the safety of interfaces. Some leading manufacturers already use this technology to produce separate parts for cars. Learn more in our Global Startup Heat Map! We analyzed 486 Infrastructure-as-a-Service startups. Firstly, it enables rapid prototyping with 3D printed models that accelerate the design and testing phases of production. Dealerships across the co… 2020 will be a big year for the auto industry, not least because of increasing anxiety around climate change and the disruption Brexit could cause. Another way to reduce the number of cars on the road involves promoting and creating shared mobility solutions that include first and last-mile connectivity along with urban mass transit. For greater adoption, EVs need to address issues such as high price, poor battery, inadequate charging infrastructure, fleet electrification, as well as powering renewable energy-based charging grids. In contrast, the continued focus of German and Japanese automakers on horsepower could soon end up becoming misaligned with the new digital architecture requirements of vehicles. 2020 Consumer Trends for the Automotive Industry 1. In addition, the solution works with any EV charger and enables new features to be shipped throughout the network. The platform LM Mission ControlTM offers free-floating or station-based car sharing, advanced shuttle services, shared dockless scooters, keyless rental programs, and peer-to-peer shared mobility. Such trends will again challenge car companies who depend heavily on high mileage driven by the workplace commute. Rebirth Of The Used Car Market: In an environment where value is paramount, the used car market will make a strong comeback. As a result, car companies are working on what we call âcustomer transformationâ, in essence, creating personalized and customized digital solutions across the customersâ lifecycle management of the vehicle. Meanwhile, Brexit and other protectionist economic policies will favor onshoring rather than offshoring in the future. Data As The 21st Century Oil, The Shift From âHorsepowerâ To âComputing Powerâ: Data-as-a-service is set to grow post Covid. Another example relates to the need for dedicated platform and vehicle architecture to manufacture EVs. I am a Managing Partner in Frost & Sullivan, Regional Leader of its Middle East, Africa and South Asia (MEASA) operations and the companyâs Global Practice Head of Mobility, Aerospace, Defence & Security teams. Get our free newsletter for insights into in technology, startups, and our services. The automotive industry is seeing dramatic changes with the emergence of new technologies, rising customer preferences and sustainable policies. The startup also serves other industries, such as aerospace, construction, and biomedical. We might also see car companies cut back and consolidate the number of trims, variants and powertrains. Discover impactful industry trends, promising startups & emerging companies, and our Global Startup Heat Map in this article! We analyzed 173 startups developing natural language processing solutions for electronic health records. Such solutions meet the requirements of a city or a business without adding new vehicles, thus reducing waiting time for fleets and pollution caused by petrol or diesel vehicles. Autonomous Level 2.5 To Become Stop Gap Preference: Covid has derailed plans to leapfrog from Level 2 to Level 4 of vehicle autonomy. (, * Get our free newsletter for insights into in technology, startups, and our services. Automotive marketing trends 2020. Top 20 automotive trends for 2020 and beyond. Â© 2020 Forbes Media LLC. The Internet of Things (IoT) has led to a wave of connectivity … A key transformation, echoed in Teslaâs differentiation strategy, will be the move from horsepower to computing power. The solution captures millions of data points in real-time and analyzes them to enable lenders to instantly assess and reduce risk. Online To Boom: We are already in the midst of a paradigm shift from offline to online. Here are Scott’s predictions for automotive industry trends 2020: Industry Top Trends 2020: Autos We expect no revenue growth for the industry in 2020 and 2021. Automotive ADAS Sensors Market to Grow by $ 24.96 bn During 2020-2024 | Industry Analysis, Market Trends, Market Growth, Opportunities, and Forecast 2024 | … Cars As Points Of Health: Built in, bought in and beamed-in features are converting the car into centers of health, wellness and wellbeing (HWW). I usually begin the year with a roundup of the top automotive trends for the upcoming year. Their scooters use an aviation-grade aluminum frame and are customized for sharing, safety, reliability, and durability. The 2020 Global Automotive Consumer Study provides insights into how consumer opinion about these disruptive technologies may affect the future of the automotive industry and where automakers are investing to bring these advanced features to market. Artificial intelligence technologies such as machine learning, deep learning, and computer vision find applications in robotic automation within the automotive industry. The startup provides manufacturers with tools that make the development and maintenance of EV charging infrastructure simple, fast, and scalable. Shakeup Of The Fleet Market: Typically, fleet markets have always made gains during a period of recession. The LM Mission ControlTM dashboard allows business users to manage their fleets. Discover 5 Top Marine Conservation Startups. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit â And Pushing For Change, Michigan Economic Development Corporation BrandVoice. Return Of The Hatchback And New Body Styles: We might see the return of the hatchback, exemplified by the VW Golf, as a second car. AVs are equipped with advanced recognition technologies, such as AI-enhanced computer vision to identify obstacles along the route. The National Automobile Dealers Association highlighted in its 2018 review that new-vehicle sales breached $1 trillion. The startup’s vans have a payload capacity of approx. Many believe that 3D printing is not just a new tech trend but the future of the automotive industry. In April, IHS Markit released a global light vehicle sales and production forecast for 2020, predicting a 22% drop in sales across the worldwide industry from … Lastly, MARV.Automotive is a configurable and extensible data management platform that reliably transmits data from the vehicle to the cloud. Automobiles are complex machines that increasingly include sophisticated computers. This will continue to impact the entire automotive value chain, as there will be increased demands for new innovations that will shape the industry and provide improved customer experience. The startup’s platform combines augmented reality (AR), smart camera, and surround-view monitoring to illuminate the route on turns, curves, slopes as well as complex junctions. Car allowances might be (pay) cut by corporates, causing the lucrative corporate fleet market, especially the premium segment, to suffer. And the automotive industry is no exception from these changes and developments. I am a Managing Partner in Frost & Sullivan, Regional Leader of its Middle East, Africa and South Asia (MEASA) operations and the companyâs Global Practice Head of Mobili. Depending on your specific needs, your top picks might look entirely different. Additive manufacturing near production sites, AI-based automated inspections, the use of big data to inform design and production, and human-machine interfaces are reinventing the manufacturing processes for automotive players. These guide self-driving cars, manage fleets, assist drivers to improve safety and improve services such as vehicle inspection or insurance. Israeli startup DAV offers a decentralized autonomous vehicles platform based on blockchain technology. Human-machine interfaces (HMI) use voice-based or haptic feedback to operate vehicles. Meanwhile, we will see a big shift to digital marketplace models for used cars. Weâll deliver it straight to your inbox! The automotive aftermarket provides these parts and services, and largely flourishes during economic uncertainty. New HWW features like ionizers and ozonizers that purify in-vehicle air as well as self-cleaning car surfaces will become standard offerings in cars. Supply chain diversification will open up opportunities for countries like India and Mexico. Car As A Marketplace: in the future, everything related to on route mobility services will be available through a car. Light truck… The 3D printed composites are more affordable, lightweight, dimensionally stable, corrosion-resistant, and also offer increased strength and stiffness. Secondly, it allows manufacturers to print spare parts to match their requirements. A glimmer of hope will come in the form of growth in private leases. Automakers are now contemplating two divergent approaches: first, the Tesla strategy which aims to combine camera-based technologies to push onto Level 5 and, second, the proceed-with-caution strategy which seeks to persist with Level 2.5 for a period of time before ramping up to Level 4. To download the full report, please click the image below: Home; Help; About Us; Press; Contact Us; Careers; Affiliate Program; Dealer Center; Your Ad Choices We analyzed 145 marine conservation startups. This allows Buy Here Pay Here (BHPH) dealers to expand their businesses and extend credit to high-risk customers. 1. Learn about the auto parts industry and how it is evolving to more online sales and away from brick & mortar. Despite a shift toward shared mobility, vehicle unit sales will continue to grow, but likely at a lower … British startup V2X Network offers a vehicle-to-everything (V2X) platform for autonomous transactions that combines geo-networking and caching to enable low latency real-time communication. The solution also serves as the base for additional services such as micropayments and micro-mobility. For instance, car companies will also become charging point utilities, much like what VW has done. Such circular economy practices will anchor the transition towards Innovating to Zero. It also allows operators to integrate services and microservices in the chargers to make the charging process profitable. Lastly, additive manufacturing of composite materials leads to automotive parts that are lighter, stronger, and more durable. Some wonder why pickup trucks tend to lag behind cars in average age. Discover what can be learned from 8,000 global survey responses and thousands of social posts. Circular Economy, Automotive Industry Innovates to Zero: Covid will provide impetus to automakersâ Vision Zero initiatives. They include V2V (vehicle to vehicle) and V2I (vehicle to infrastructure) tools and systems. The startup’s design software Fibrify optimizes fiber placement and automates equipment production with additive fusion technology to mass-produce carbon fiber products. The data of all road users is streamed and processed in real-time to empower smart mobility. However, it has provided automakers with an unexpected opportunity to introspect and home in on the most impactful ideas and trends that will shape their future in the decade ahead. Storyblok, XTREME-D, TrueNode Tech, DPLYR, and HyperQube develop 5 top solutions you should watch out for. 5 Top NLP Startups Integrating Electronics Health Records (EHR). CL. Car companies have been very good in terms of building carbon neutral factories, striving for zero fatalities or developing zero emission cars. This enables mobility-as-a-service (MaaS) and discourages unused vehicles. After 21 months of continuous decline, the Chinese car industry actually grew in April and May. The US-based startup Udelv provides autonomous vehicles for last-mile deliveries. Sales have been highly lucrative and typically customers remain as passionate about their vehicles as they ever have been. Further, their drivers use out-of-the-box or white-labeled apps to manage reservations or remotely access vehicles. In addition to technologies such as artificial intelligence (AI) and big data & analytics that have been around for while, newer technologies such as the internet of things (IoT) and blockchain also find numerous applications in automotive. I foresee two major shifts here: one, from the premium segment to more volume segment offerings and, two, from being primarily city-based models to becoming more pan-country based models. In their pursuit of value creation, retention and enhancement, automakers will push forward on connectivity platforms, personalized offerings and FoD services. Additionally, Cube Intelligence offers ride-hailing and valet parking services for AVs, as well as smart parking management systems. Click to download our free Automotive resources. This assists the drivers in keeping lanes, prevents collisions, and enables autonomous driving options. If anything, the Covid crisis has completely overturned every prediction and projection made at the beginning of 2020. All Rights Reserved, This is a BETA experience. As part of our look at automotive digital marketing trends, we included our annual projection on auto parts eCommerce trends for 2020. Canadian startup KonnectShift provides IoT solutions to optimize fleet and asset management. The US-based Startup Lordstown Motors CorpsÂ makes an all-electric pickup truck. After much heated discussion (thatâs one thing thatâs remained unchanged, pandemic or not! The new era of industrialized manufacturing thanks to the fourth industrial revolution (Industry 4.0) is also revolutionizing the auto sector worldwide. People Love Cars Again. In the age of big data, advanced data analytics informs various decisions throughout the lifecycle of a vehicle. This enables easy tracking of vehicular data for various use cases such as insurance, driver safety, predictive maintenance, and fleet management. Heterogeneous Society As Customer: Post Covid, social polarization along age, gender, income, and even political lines is set to intensify. In the automotive industry, IoT enables secure communication between vehicles as well as vehicles and infrastructure components. 5 Top Pulmonology Solutions Impacting the Healthcare Sector. Get in touch for a head-start on startups, scaleups & disruptive technologies to discover what will impact your business in the future! Further, the micro-mobility platform offers a sustainable alternative to short-distance rides and helps regulate traffic flow in cities. The US alone accounts for $296 billion. They require both regular and emergency service, replacement parts, paint, cleaning, stereo system installations and a whole lot more. These include sharing vehicle data over a secure network for connectivity and shared mobility solutions such as ride-hailing, urban transportation, and deliveries. Our top automotive industry trends in 2020 are completed by V2X systems, which belong to the newest generation of Intelligent Transport Systems. Further, as countries look to move away from fossil fuel use, a significant number of emerging electrification startups develop electric vehicles and the associated charging infrastructure. Users discover the nearest Beam scooter on the app and park it in visible public spots after the ride. Nowadays, vehicles come with a tamper-proof digital identity that differentiates them from other vehicles in the network. The rise of transportation options and diminishing interest in car culture … For this research, we analyzed 4.859 startups and emerging companies and present the Top 10 Automotive Trends along with 20 highly relevant solutions for each of them. The digitalization and advancements in technology is expected to increase the automotive industry investments to $82 billion in 2020. This reduces false positives in pedestrian detection and enhances the safety of autonomous vehicles. I am a well-known thought leader and a charismatic futurist who combines engineering acumen with strong commercial experience. The platform allows autonomous vehicles to discover AVs, service providers, or clients around them.