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What is Driving the Automotive Industry Forward?

Auto Tech Outlook | Wednesday, February 17, 2021

With the increased digitalization of the world, the automotive sector is gearing up to an enormous change.

FREMONT, CA: Since the introduction of automobiles to the mainstream markets, technological advancements have always been a part of the industry. The automobile sector is witness to many incredible technological innovations over the past century, right from the arrival of engines that leveraged fossil fuels to power transportation, the effect of technology in shaping automobiles enormously. Just like every other sector, the automobile industry is also quickly advancing in contemporary times. Modern automobiles can provide much more than driving a person from one point to another, just like smartphones are capable of performing more than just a call. Here are some technologies that help the automotive industry gear up to significant changes.

• AI-Powered Autonomous Vehicle

AI-based autonomous vehicles are the game changers in the automotive industry. Artificial intelligence is allowing smart travel methods through self-driving cars. These vehicles do not need drivers and rely on sensors and software for navigation and control. Autonomous vehicles are aimed to mitigate the requirement for human drivers and make everyday transport seamless. However, the pandemic was a big hit, which staggered the enhancement of self-driving vehicles. With the autonomous vehicle sector estimated to be worth US$556 million by 2026, investments will likely continue, especially as further applications are explored.

• Digital Marketing and Dealing

The futuristic view of selling automotive vehicles online came to effect during this pandemic. Even though when an in-person visit to dealership stores and test driving was a mandatory part of buying a car, vehicle buyers can compare different car models, unlike going on with the dealer’s suggestion. Modern dealerships are trying to normalize online car buying by delivering provisions starting from virtual tours to secure checkout, online financial options, and returns policies.

• 3D Printing

The automotive sector is always facing a demand for new vehicles and spare products. The demand for newer, better performing vehicles and the need to optimize production and supply chains and logistics is also increasing. One technology that is assisting in meeting these challenges is 3D printing. 3D printing is being explored across all areas of automotive production. Aside from its extensive use for rapid prototyping, the technology is being leveraged to produce tooling and end parts.

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