Top 20 automotive trends for 2020 and beyond. Fri., Jan. 3, 2020 timer 3 min. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit â And Pushing For Change, Michigan Economic Development Corporation BrandVoice. The good news is that new digital IoT solutions can enable just that. This allows Buy Here Pay Here (BHPH) dealers to expand their businesses and extend credit to high-risk customers. Dealerships across the co… Let’s have a deeper look at each trend and its likely implications for 2020… Automotive Trends You Should Expect to See by 2020 The world today is going through a radical revolution. 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. For more information view our Data Protection Information. Such circular economy practices will anchor the transition towards Innovating to Zero. The solution includes route planning and optimization for real-time dispatch, advanced analytics to enable alerts regarding driving, vehicles, and fuel, predictive maintenance alerts to reduce downtime, as well as developing driver management apps. Additionally, the onboard speed recorder limits the speed to discourage dangerous driving behaviors. As downstream functions in the car also experience rapid digital transformation, OEMs will need to redesign their digital retailing strategy. Auto manufacturers continue their push toward the aggressive … This trend will be noticeable in countries like China, India and Saudi Arabia which have young populations as well as the U.S. where car ownership happens at a much younger age. In addition, the solution works with any EV charger and enables new features to be shipped throughout the network. 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. Discover impactful industry trends, promising startups & emerging companies, and our Global Startup Heat Map in this article! Moreover, it finds application in verifying the supply chain of spare parts or making sure that the raw materials and spare parts are sourced exclusively from legal and trusted sources. The US alone accounts for $296 billion. The startup’s vans have a payload capacity of approx. 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). This enables mobility-as-a-service (MaaS) and discourages unused vehicles. Connected car platforms push differentiation. 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. 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. 2020 Auto Sales Forecast 2019’s auto sales trends haven’t been great, with the industry down by 2.4 percent in July and on trend through September for sales numbers to finish below 17 million in sales for the first time since 2014. Further, this also offers software solutions for fleet and asset tracking as well as connected cars. We analyzed 173 startups developing natural language processing solutions for electronic health records. The automotive aftermarket provides these parts and services, and largely flourishes during economic uncertainty. (. Another consequence of lower commuting miles will be felt in lower aftermarket sales. I expect over 100 connected car features to be available to consumers across emerging and developed markets by 2025, from current figures of less than 40 in most high-end vehicles. I am willing to wager that deployment rather than development will determine the winner of the autonomous race and that China will be the first to dash over the finish line. Learn more in our Global Startup Heat Map! These include sharing vehicle data over a secure network for connectivity and shared mobility solutions such as ride-hailing, urban transportation, and deliveries. All these trends are likely to become increasingly apparent between 2020 and 2025 – which means that these are decisive years for manufacturers and their suppliers. The depleting fossil fuel reserves and the harm to the environment caused by their use call for promoting the use of electric vehicles (EVs). These guide self-driving cars, manage fleets, assist drivers to improve safety and improve services such as vehicle inspection or insurance. Sales of new and used cars as well as of vehicle related services will become platform / digital based. Hertzâs collapse is symptomatic of the marketâs decline. Blockchain finds multiple applications in the automotive industry. Startups and emerging companies develop advanced sensing technologies to gather more data about the vehicle as well as allow the vehicle to understand its surroundings. AI also finds applications in automotive manufacturing, where it accelerates the rate of production and helps reduce costs. To overcome key challenges such as complexity and cost pressure, diverging market, digital demands, and a shifting industry landscape, leading automotive companies need to recognize that the technologies developed by startups & emerging companies have the potential to alter the entire industry. 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. The startup also serves other industries, such as aerospace, construction, and biomedical. Ashored Innovations, 12 Tides, Bouddi, Pesky Fish, & Brim Explorer develop 5 top solutions you should watch out for. 2020 Consumer Trends for the Automotive Industry 1. Online To Boom: We are already in the midst of a paradigm shift from offline to online. 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. Swiss startup Unit8 uses big data and analytics to offer digital solutions for various industries. The Innovation Map below visualizes the major trends that impact the automotive sector and showcases two hand-picked startups for each. My team and I pioneered the âMacro to Microâ approach in analyzing Mega Trends in 2008, which has since been tried and tested with Fortune 1000 companies in developing white space opportunities. Further, startups and emerging companies develop solutions that enable vehicles to securely communicate and transact over a network. The push for electric cars and driverless cars is strengthened by advancements in machine learning and IoT. In the automotive industry, IoT enables secure communication between vehicles as well as vehicles and infrastructure components. 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. 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. ), while auction prices for used cars are on the up and up. 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. As part of our look at automotive digital marketing trends, we included our annual projection on auto parts eCommerce trends for 2020. Looking ahead to auto industry trends in 2020. The US-based startup Procon Analytics leverages big data to offer a solution for automotive finance. Our Innovation Analysts conducted an exhaustive analysis of 4.859 solutions and present the top 10 Automotive Industry Trends & Innovations in 2020 & beyond. I, for one, am looking forward to driving back on a cold winterâs night, while being able to set the temperature at home to a balmy 27C. Automakers will perforce create differentiated Gen Z focused strategies, while special models underpinned by connectivity technologies âI think the Chinese will steal the thunder here, againâwill be designed to appeal to Gen Z customer preferences. Automotive marketing trends 2020. Learn more in our Global Startup Heat Map! Some leading manufacturers already use this technology to produce separate parts for cars. The US-based Startup Lordstown Motors CorpsÂ makes an all-electric pickup truck. Cars As An Element Of Connected Living Solutions: Cars will become an integral part of connected living solutions. Further, their drivers use out-of-the-box or white-labeled apps to manage reservations or remotely access vehicles. read. Heterogeneous Society As Customer: Post Covid, social polarization along age, gender, income, and even political lines is set to intensify. ), here is our pick of the top 20 trends that we believe will shape the future of the auto manufacturing industry in a Covid-defined 2020 and beyond. According to the American Automotive Policy Council, the automotive industry is the largest manufacturing sector in the United States. It features 4 hub electric motors to provide a four-wheel drive and is capable of traveling more than 250 miles (400 km) on a single charge. At this point, luxury will reinvent itself, manifesting as âdigitalâ experiences. Drivers benefit from Voicera ID, a voice-based virtual assistant that helps them keep track of the information they need. Today, it stands at a record-high 11.3 years for passenger cars and light trucks combined, representing a 14% increase since 2007. Not this year though. The startup develops protocols for drone charging networks, drone flight planning, and open mobility. AVs are equipped with advanced recognition technologies, such as AI-enhanced computer vision to identify obstacles along the route. I am an Engineer and have a MBA from Leeds University Business School, for whom I am now a member of their Advisory Board. Moi uses continuous fiber manufacturing (CFM) technology, robotic intelligence, and digital fabrication to deposit fibers. Two Speed World Economy: Globally, auto sales will recover much faster in China and the U.S. than the EU and India. Swiss startup 9T Labs employs additive manufacturing to produce carbon composites for use in the automotive industry. Weâll deliver it straight to your inbox! These also enable new business models in shared ownership of vehicles, analytics-driven maintenance, safety improvements, and insurance. Fleets of AVs expand the scope of last-mile deliveries, reduce downtime, and aim to make public transportation relatively safer. The US-based startup Apex AI enables automotive companies to implement complex AI solutions. The industry is adopting new technologies in its operations at an unprecedented scale. ApexAutonomy offers modules to build 3D perception, localization, and control to enable autonomous vehicles. The truck, EnduranceTM, is designed to be a sturdy work vehicle and comes with fewer moving parts compared to traditional commercial vehicles, thus enabling easier maintenance. Moreover, customer automotive data finds applications in driving sales, optimizing supply chains, and enhancing product design for newer vehicles. Even China saw its first-ever decrease in new-vehicle sales. Our midyear outlook focuses on three manufacturing industry trends to follow in the second half of 2020 as companies attempt to recover and thrive . After much heated discussion (thatâs one thing thatâs remained unchanged, pandemic or not! Thanks to the use of radio waves, data exchange is very quick. 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. Moreover, the solution is customizable to any car model or specific OEM requirements. Increased Vehicle Leasing. Nowadays, vehicles come with a tamper-proof digital identity that differentiates them from other vehicles in the network. For example, by reducing accidents caused due to driver fatigue or negligence. The technology also automates payments for fuel and tolls. Continuing Growth of Electrification. Another form of HMI includes smart virtual assistants who help drivers and riders interact with the vehicles and other service providers. Get in touch for a head-start on startups, scaleups & disruptive technologies to discover what will impact your business in the future! The last five years have, in general, been a success story for the automotive industry. 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. Technology is at the core of all these changes, as you would have guessed. 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. 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. The US-based startup Launch Mobility develops a platform for a range of shared mobility solutions. The ' Automotive LCD Dashboard market' research report is latest addition by Market Study Report, LLC, that elucidates relevant market and competitive insights as well as regional and consumer information. Looking for specific automotive startups and technologies? Car companies have been very good in terms of building carbon neutral factories, striving for zero fatalities or developing zero emission cars. 5 Top Pulmonology Solutions Impacting the Healthcare Sector. The industry includes both OE and aftermarket parts, equipment, service, and collision repair to name just a few. Not this year though. People Love Cars Again. The US-based startup Udelv provides autonomous vehicles for last-mile deliveries. Some wonder why pickup trucks tend to lag behind cars in average age. I consult Fortune 1000 companies (clients like P&G, Ford, Philips, BMW, Fiat group, Nissan, Toyota and UNIDO). 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. The startup develops Konnect – GS01, an automatic electronic logging device (ELD) to continuously track vehicular health. Follow me on Twitter: @Sarwant. The solution also serves as the base for additional services such as micropayments and micro-mobility. getty. Learn more in our Global Startup Heat Map! If anything, the Covid crisis has completely overturned every prediction and projection made at the beginning of 2020. Despite a shift toward shared mobility, vehicle unit sales will continue to grow, but likely at a lower … 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 Below are three key trends we can expect in the auto industry this year, with tips on how automakers can use these trends to fuel success in 2020 and beyond. 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. Luxury To Manifest In âDigitalâ Vehicle Functions: We expect luxury vehicle sales to decline by 30-35% over the short-term before gradually picking up over the medium- to long-term. Discover what can be learned from 8,000 global survey responses and thousands of social posts. The startup works with automotive original equipment manufacturers (OEMs) to decrease HMI development cycle time and enhance the safety of interfaces. We are able to forecast the trends owing to our expertise in research, survey, and industry experience. Sales have been highly lucrative and typically customers remain as passionate about their vehicles as they ever have been. The Global Startup Heat Map below highlights the global distribution of startups & emerging companies that also include the 20 promising examples out of 4.859 relevant automotive solutions. Usage Based Insurance for Vehicles. This reduces false positives in pedestrian detection and enhances the safety of autonomous vehicles. In the age of big data, advanced data analytics informs various decisions throughout the lifecycle of a vehicle. Depending on your specific needs, your top picks might look entirely different. The platform runs on distributed ledger technologies (DLTs) and allows for a high degree of scalability. Such trends will again challenge car companies who depend heavily on high mileage driven by the workplace commute. In fact, Scott spent 17 years at the Auto Care Association (formerly AAIA) where he was instrumental in developing the ACES and PIES data standards used in the industry today. New Collaborative Business Models To Accelerate: Informed by a partnership / collaborative approach, new business models are set to mushroom across the value chain. Subscription model booms. The vehicle-to-vehicle (V2V) communication is either on-blockchain, with smart contracts, or off-blockchain using DAVâs protocols. As a result, the solution is easily scalable for producing composites for panels, frames, and interior components. 3D printed vehicles. 1. Users discover the nearest Beam scooter on the app and park it in visible public spots after the ride. The future of automotive will be more flexible, convenient and customer-centric. 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. Singapore-based startup Beam focuses on e-scooters to promote shared mobility in the Asia-Pacific region. 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. Covid might have thrown the automotive industry (not to mention, our annual forecasts) off track. German startup ChargeX offers a modular EV charging solution that converts parking spaces into charging stations. The technology improves road safety, solves traffic congestion, and reduces pollution and energy expenditure with better fleet management. Download report (4.2mb) Five trends transforming the Automotive Industry By Cliff Lafreniere President, Trillium Automobile Dealers Association. As car companies revisit their value chains, they will evaluate reused and shared parts for new product development. Â© 2020 Forbes Media LLC. It combines advanced AI algorithms and hyper-speed teleoperations for human-assisted guidance in unique situations. These expand the scope of how and what aspects of a car that users control. Supply chain diversification will open up opportunities for countries like India and Mexico. Discover what will impact your business in the future! In the past few months, my team and I started from scratch, tracking and dissecting the effects of the pandemic on the mobility industry. The National Automobile Dealers Association highlighted in its 2018 review that new-vehicle sales breached $1 trillion. As in all industries, digital transformation trend in automotive are shaking things up moving into 2020 and beyond. 360 kg (800+ lbs) and reach speeds up to approx 100 km/h (60 mi/h). Our top automotive industry trends in 2020 are completed by V2X systems, which belong to the newest generation of Intelligent Transport Systems. Here are Scott’s predictions for automotive industry trends 2020: Apex.OS runs on automotive electronic control units (ECUs) and offers robust, reliable, and secure APIs to develop autonomous mobility solutions. Operating from Germany and the US, EcoG is a startup offering an IoT-based operating system and platform for EV charging. But what we are seeing now is the incorporation of use and reuse practices â the âDesign to Dismantleâ principle â at the design stage itself. Accordingly, commuting miles will decrease and the role of the car, which used to be primarily for work commutes, will shift to being used for the weekends, evening trips and shorter drives.
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