Automotive Industry | Brief Report

RUNNING HEAD: Automotive Industry 0
AUTOMOTIVE INDUSTRY

Automotive Industry 1
1 Contents
1. Introduction........................................................................................................ 2
2. Impact of emerging trends on Automotive Industry........................................................3
2.1. Electrified.................................................................................................... 3
2.2. Autonomous................................................................................................. 3
2.3. Communication............................................................................................. 3
2.4. Rise of cobots................................................................................................ 4
2.5. Blockchain................................................................................................... 4
2.6. 3D printing................................................................................................... 4
2.7. Upgradation.................................................................................................. 4
2.8. New mega city cars......................................................................................... 4
3. Entrepreneurial business opportunities arising as a result of impact of trends........................5
3.1. Automotive software management system.............................................................5
3.2. Automotive Usage Based Insurance (UBI)-...........................................................5
3.3. Self-driving and connected vehicles.....................................................................6
3.4. Vehicle health tracking Monitoring.....................................................................6
3.5. Electric vehicle.............................................................................................. 6
4. Digital buying...................................................................................................... 7
4.1. Connectivity and data...................................................................................... 7
4.2. Supply chain optimization................................................................................. 7
4.3. Electric vehicle (EV) charger............................................................................. 7
4.4. Restaurants and Cafes...................................................................................... 8
4.5. Hospitality.................................................................................................... 8
5. Conclusion.......................................................................................................... 9
6. References........................................................................................................ 10

Automotive Industry 2
1. Introduction
Automotive companies include manufacturing companies involved in the manufacture of the
motor vehicles or the parts of the vehicles such as body or the engine of the vehicle, but it
does not include companies into manufacturing of tyres and batteries. Industry includes
products such as trucks, vans, mini trucks, pickups and bus. Few leaders in vehicle
manufacturers are Nissan motors, Hyundai, Toyota, Volkswagen. Customer behaviour and
choice changes with time, customer expects better and improved products with passing time.
And the customer behaviour and demand enable the change in emerging trend. Therefore,
demand for automation and digitalisation is increasing (Gao, 2016). Trends of manufactures
are changing towards electric eco-friendly vehicles, self-driving technology in vehicles and
autonomous vehicles. Autonomous vehicles are introduced which are based on Artificial
Intelligence. These vehicles are not totally dependent on human, as they move through an
electronic access. Today’s emerging trends such as empowering of digitalisation and increase
in automatically operated vehicles have introduced electric vehicles. Therefore, automotive
upgradation also provided with business opportunities such as digitally buying of vehicle and
online assistance of the guidance regarding the vehicle driving. It also provided with
insurance business opportunity, in which the insurer provides with the safety of the vehicle
and also the supply chain optimization as a business opportunity.

Automotive Industry 3
2. Impact of emerging trends on Automotive Industry
Automotive companies such as Ford, Nissan, Hyundai and other automotive companies
which are involved in the manufacture of the cars and parts of cars such as engine of the car.
Trends are changing with time toward digitalisation and automatization. Therefore, people
also expect innovation in the technology, which make them demand for improved trends.
Which impact on the market and the companies, companies tries to bring other innovative
and improved options for its customers. Therefore, this trend impacts manufactures of the
automobile industry, which motivate them to bring technology upgradation, automatization,
autonomous vehicles, self-driven and eco-friendly cars. In today’s trend of digitalisation and
automatization, AI (Artificial Intelligence) is applied for upgrading vehicles. Today, there is a
trend of urbanisation emerging where people are shifting to cities from small town. And this
creates pressure on the development of IT sector and demand for innovation. And the people
are switching their approach towards “smart city” which create demand for better technology,
energy, better buildings and cars (CEIBS, 2014). Electric vehicles are expected to attain a
balance between demand of vehicles and lack of resources. The extent to which the vehicle is
automatic depends on the dependency of the vehicle on the human factor. Impact of emerging
trends on automobile industry are-
2.1. Electrified
Vehicles are turning into electrified form which uses renewable source of energy. The natural
resources are lacking behind, due to their deficiency innovative and electric ways are used to
charge vehicles. Using electric way to charge vehicles will help to save the natural resources
and EV will prove to be an eco-friendly option of travelling.
2.2. Autonomous
Development and innovation in vehicles will enable vehicles to be less dependent on human.
Therefore, automatic ways will reduce the need of human at each level of maintenance of a
vehicle (Berings, 2017). Therefore, people can save time and invest their time in more
useful areas. Autonomous vehicles will also result into a proper management of traffic rules
and ease through self-driven cars.
2.3. Communication
Communication between the traffic management outside the car and the outside world with
the vehicle occupants will help to create a link and keep home and workplace connected. This
will also ensure ease of communication and overall save the efficiency of an individual