Customer expectations, data, new technology, the transition between phone and car — there are a number of trends moving up in 2020 that impact the auto industry — but regardless of all the change, the industry will come out stronger.
As we move into a new decade, it’s clear the automobile industry is in many respects undergoing a period of rebirth and significant change — largely because of the increasing demands and expectations of consumers.
Not long ago, the sector was all about powerful engines, horsepower, and exterior designs. However, consumer demands are changing, and with that, the digitization of technology is playing a greater role than ever before in automobile development and manufacturing. It offers solutions for greener cars, driving assistance and autonomous driving, displays and entertainment, and software and data that increasingly satisfy the appetite of customers.
Today, consumers want a seamless connectivity experience, so drivers can stay connected to their favourite app, music, and entertainment. Kids want to be connected to their favourite games, or dare I suggest, get a jump on homework on the trip home from school.
While a car equipped with a Wi-Fi hotspot has become a feature with some brands, we can expect it will soon become a staple in every new car purchase, rather than an upgrade. We can also expect companies to improve navigation and voice control systems by using systems like Android Auto and Apple CarPlay that will mirror what’s on your iPhone, creating a seamless transition between phone and car.
Without a doubt, the most important benefit of innovation and technology is the role it plays in improving safety in our automobiles. We can expect even greater developments that monitor our driving activity, and provide information about mechanical or system problems, lane departure systems, forward collision warning systems and brake assist, to name but a few.
Without a doubt, the most important benefit of innovation and technology is the role it plays in improving safety in our automobiles.
Car maintenance and the unfortunate breakdown can be a major inconvenience — but that too may soon change. An emerging technology called predictive maintenance will be able to alert drivers of potential issues they may experience in the future, from engine troubles to faulty brakes, or a taillight that’s about to burn out.
New technologies are also making new car searching and buying processes easier. Manufacturers and dealerships that invest in software upgrades and increasingly use data, are creating a more personalized shopping experience for consumers. Technology is assisting dealers in other ways. As an example, Toyota’s augmented reality system allows users to get to know certain models without setting foot in a showroom. A number of brands are also creating virtual showrooms that reduce the amount of space they need, while providing consumers with a very realistic auto viewing experience.
So what impact might ever-evolving technology developments have on the auto sales industry? Aside from the obvious benefits, some would also suggest the pressure to add new digital features means the average car lifecycle might begin to coincide with that of existing technology — with drivers trading up when new advancements become available.
Regardless of the nature of change, one thing is for certain: the auto industry will roll with it, evolve, and come out stronger than ever.
