Like any other industries, the automobile industry is also going through massive changes and affected by digital disruptions. The advent of digital marketing solutions is revolutionizing both - the ways how a customer would choose the product and also the experience of driving a car itself. The trends that have emerged out of digital innovations are numerous but 6 trends could have said to have a major influence on the digital transformation automotive industry during this year.
Buying a car is big a decision in one’s life and choosing a perfect model which suits the need and budget was a difficult, complicated and physically strenuous task until recently. However, the advent of digital transformation solution has made it a lot easier for the consumers to pursue the car of their choices.
Earlier, the consumers only had a piece of newspaper ad to go for when choosing a model of a new vehicle, but today, they are researching online before even setting foot in a showroom. Websites like TrueCar and Edmunds are feeding customers with all kinds of necessary information at the click of a button.
Physical showrooms are also getting digitally transformed place equipped with virtual reality capabilities. These VR capabilities are allowing the consumers to open doors of the car and get a 360-degree view inside out. Most of the companies are planning to sell the car directly to consumers through their respective websites.
The digital innovations are constantly adding new options and the progress in developing cognitive AI technologies have opened the wide world of possibilities of ushering a new era in automation including the world of autonomous driving. Some suggest that, like the modern automated elevator system, the car is going to be operated with just a press of a button sooner than we could imagine.
The Automated Vehicle could soon be a reality thanks to the fact that, a similar kind of technologies are being developed as a collaborative process in various fields like GPS, Sensors, cameras, and algorithms. AV is expected to lower the cases of automotive accidents and related deaths.
In the automotive industries, digitalization has brought down cost and engaging the consumers more effectively. The companies are opting for a more decentralized approach for both production and supply chain. This has helped in achieving more transparency in the supply chain, better design, manufacturing, and delivery. Factories have become smarter by connecting itself through Internet of Things and Social media. It is getting an instant feedback and based on that, AI and machine learning algorithms are performing tasks like scheduling and managing workflow and improving the efficiency in assembly line production.
Digital transformation is also helping the companies to identify the defective products and parts.
The guesswork can now be taken out of the maintenance of cars and vehicles because today's modern connected and AI enabled the vehicle to let the user know when and what kind of maintenance or replacements needs to do.
The advanced self-diagnostic systems are able to alert drivers instantly if there is a problem. This helps the car owner to proactive service of the vehicle which in turns reduces the chances of mechanical failures. The servicing of a vehicle also become digitized, it requires not only any mechanics but a software technician to maintain and update the system.
The vehicle rides both private, as well as public, is more and more becoming an element of connected living. The startups like Uber and Lyft have disrupted the automotive landscape by shifting the focus from privately owned cars towards the service-oriented forms of transport.
This has presented consumers with financial benefit by eliminating the need to spend a huge money upfront for buying a vehicle and related costs of maintaining it. MaaS (Mobility-As-A-Service) is helping the customers with big savings.
The automotive industry is undoubtedly the most data-driven industry in today's world. The intelligent and connected vehicle is collecting and disseminating real-time data about drivers, destinations, routes, traffic patterns etc. all the time. While consumers are benefitting the most due to this process but with it, the need for enhanced data security is also has become the biggest challenge.