Digital transformation of the automotive industry set to pave way new revenue streams “Autonomous cars only will account for a 84 billion dollar market by 2030”, estimates Franck Leveque, Frost & Sullivan Partner Mobility. Indeed, experts project that growing digitalization and advancements in technology will increase investments to $82 billion by 2020 in the automotive industry. Since Industry 4.0 has been an agenda topic, “Digital Transformation” has made its name and started to rewrite the business literature. Everything — from the buying process to the driving experience — is currently going through the digital transformation. Digital transformation is all the more relevant in the automotive industry which is currently undergoing the most significant change management processes since its existence. Shared mobility usually refers to a ride sharing solution wherein a transportation … It analyses their impact on working conditions and employment as well as on the role of production sites in the value chain. From choosing a … Digital Transformation: A Change Generator. The automotive industry is poised for more change in the next 10 years than it has in the previous 100 years. Today, nearly 4.5 billion people globally are digitally connected. A new study by Egon Zehnder and KPMG found that while the auto industry recognizes the technical challenges of digital transformation, the industry as a whole fails to appreciate the human/cultural challenges. Dealerships will still play a key role in car shopping, but an increasing number of people will want more of the process — from research to purchase to delivery — available online. IoT, Internet, connected and wireless solutions are also transforming the automotive industry. Of course, the automotive sector is keeping up with the trend and digitalizing. This concurs with data quoted by Microsoft when they referred to a survey conducted by Wakefield Research/Spireon Study. Technologies are changing every modern business sector and the automotive industry is not an exception. The survey reported that 38% of automotive companies cite security and compliance as the top challenge in digital transformation. Digitalization in the automotive industry will have a spiral effect on other industries. Digital transformation in the automotive industry results in the modern car being a complex system of powerful computing units, sensors, actuators, and mechanical and mechatronic systems. Patent application trends and prediction for the future And that’s means that not only car manufacturers have to keep up with the current tech trends. An industry report by CA Technologies commented on a recent global survey. This has pushed the industry past the “tipping point” of digital change to digital transformation. Gaining deeper customer insights. Improved car-buying experience. Digital transformation in the automotive industry. The automotive industry is changing rapidly, as new technologies, customer demands, and players emerge. Car manufacturers around the world realize they simply can’t sell cars today without it. The changing digital automotive landscape is poised to fundamentally alter the industry that designs, manufactures, and sells them. Why Automotive Manufacturers Need to Kick Digital Transformation into Gear The automotive industry is in a state of disruptive transition. The digital transformation in the automotive industry has brought down the barriers between manufacturers and customers, which means manufacturers can have a better understanding of the market. This is one digital transformation trends in automotive I can’t wait to have in my car. The study, Digital Transformation of the Automotive Industry, analyzes the strategies, growth analysis, competitive landscape, business models, and future focus areas of original equipment manufacturers (OEMs) and Tier I suppliers. The book also addresses the extent to which digital transformation represents an opportunity, or a challenge, for the countries that specialise in manufacturing production … We all know how stressful it is to buy a new car. Dealers and manufacturers can use the digital insights at their disposal to meet evolving consumer expectations, and help deliver the services they want. A new trend in automobile distribution is the increasing use of virtual reality. The result: digital transformation is viewed as a siloed experience, important in some departments and less so in others. The current situation is the testing time for the automotive industry, and there is an urgent need for a closer partnership between the automotive company & technology solution providers. The growing importance of software is increasing the complexity of the interactions between hardware, software, and physical systems. As a leading disruptor of our time, digital transformation is generating change throughout the automotive industry. Car buyers have now strengthened their digital muscles and want simple, seamless ways to buy online. This paper will explore how digital transformation is putting data centers at the forefront of the car industry in the 21st century, just as the assembly line was in the early 20th. The industry needs to adopt the digital transformation at each level. New considerations for how consumers will approach car ownership in the future is driving business model changes. For the auto industry, driving digital transformation means delivering a blended retail model that combines online strategies and traditional dealership-based interactions. Customer, product […] Trillions of dollars are being spent on digital transformation efforts across all industries. While automotive manufacturers create some of the most iconic … In this free webinar, PatSnap’s Johnny Aguirre uses patent analysis to present a panoramic view of the most critical aspects of digital transformation in the automotive industry. The lines between physical and digital get blurrier every day, and the automotive industry is no exception. And breakthrough technologies such as Artificial Intelligence (AI), the Internet of Things (IoT) and Cloud computing have the potential to redefine what’s possible for … Automotive manufacturers are being challenged by fast-changing customer needs, advancing digital technologies, pervasive connectivity, and environmental regulations. 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