Added on July 24, 2019  The News Wheel  automotive industry trends , cloud technology , self-driving cars

The Trends That Matter in the Auto Industry Today

The automotive industry is constantly growing, and this due in part to certain trends that are making an impact in this multi-billion dollar sector.

As of now, the industry is becoming even larger as demand picks up in key markets across Asia, Europe, and North America. The automotive industry supplied the global market with some 80 million vehicles two years ago. And with the emergence of new innovations in the field, it’s worth noting that the commercial auto industry will grow even larger as consumer spending remains relentless.

For sure, market preferences have changed in recent years. This has pushed manufacturers towards innovating the way they build their products. Consequently, this has led to the adoption of new practices and technology in auto manufacturing.

That said, these are the trends to watch out for as the automotive industry continues to grow.

1. Cloud-powered technology

There’s no stopping the cloud. In fact, cloud computing has grown significantly over the years. Gartner even forecasts the cloud services market to grow by a whopping 17.5 percent by the end of 2019. This comes as other sectors, such as the automotive industry, are realizing the value of integrating with the cloud. For many manufacturers, this would mean leveraging cloud technology in factory production. Cloud-based tools can help unify both the design and production areas into a single suite, thereby optimizing workflow and reducing waste.

2. Use of laser technology

The use of lasers has ceased to be a trade secret as factories use this revolutionary technology in production. Sure enough, this has led to the popularity of such services as automotive direct part marking and industrial solutions for OEMs. Such technologies are becoming even more sophisticated over time as manufacturers aim to cut down on waste and save money.

3. Self-driving cars

Artificial intelligence will no doubt impact the way we live our lives, from shopping for groceries to choosing where to eat. It’s understandable then that this sector in tech is constantly evolving and finding areas in the consumer markets where AI’s impact could be felt.

Self-driving cars won’t be on the market anytime soon, but the idea that manufacturers are focusing on improving the technology itself leaves plenty of room for optimism. And that’s only because driverless cars are seen as solutions towards reducing road accidents and providing intuitive features that motorists could enjoy.

4. The Internet of Things

Cars are now equipped with the latest tech along the lines of internet connectivity and smart functionality. With the Internet of Things or IoT becoming an important principle that many car manufacturers will have to adopt, connected vehicles will become important assets on the road. No doubt, sensors and other accessories will be included in the next generation of car models, which could then open up opportunities for smarter features.

The auto industry will continue to evolve so long as new technology is introduced each year. And seeing that consumers want more in a car than just wheels and an engine, manufacturers will have to add something new to their future product lines.

This is a collaborative article.