Technology-driven trends will revolutionize how mobility industry players respond to changing consumer behavior, develop partnerships, and drive transformational change. Several key trends will reinforce and accelerate the Automotive value chain. Driven by shared mobility, connectivity services, and feature upgrades, new business models could expand automotive revenue by more than 30 percent, more than $2 trillion. The automotive revenue pool will significantly increase and diversify toward on-demand mobility services and data-driven services.
As drivers and consumers, we expect connectivity in all aspects of life, and being on the move is no different. The demand for a ‘computer on wheels ‘has manufacturers seeing a revenue stream in the monetization of connectivity; consumers are demanding and paying for basic connectivity features such as in-vehicle hot spots and alerts for vehicle maintenance check-ups. The next shift from reactive to predictive intelligence using artificial intelligence creates both driver and passenger opportunities, as personalized controls and infotainment links widen the range for advertisers. Any live interaction through various modes (such as voice and gestures) allows proactive recommendations on services and functions. Leading to a connected vehicle providing a “virtual driver” experience using cognitive AI, which links communication and coordination – imagine your vehicle collects your shopping during your lunch break!
The advancement of connectivity across multiple industries continues to rise, and the use of sensor technology expands across all forms of transportation. The manufacturing demand for the ‘semi-conductor’ known as a CHIP continues to drive technology advancements to the next level.
The mobility generation will rely more on being connected, as differentiation between manufacturers and sellers relies on technology solutions for tomorrow.
Next in our A.C.E.S Series: Electric: Mobilizing Battery Technology.