Changing Industry

Changing Industry

by admin, October 27, 2021

Changing Industry

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Cars have been around for decades and the industry itself has seen major changes throughout the years. From classic cars to electric vehicles the car industry does not stop changing. So, where is it headed now? Autonomous cars? Flying cars? You have probably heard it all. Today we are going to review where this industry is actually going and what you can expect to see in the near future.

Technology used in cars is only going to increase. Cars that are more self-aware will become the new normal. All vehicles will soon be equipped with hundreds of internet-connected engine control units and sensors. There will be algorithm-based insurance based on data from connected cars. Companies will have the capability to offer things like subscription-based services for parking, electric vehicle charging, and rideshare. Some of these changes have already been implemented and companies are already looking to improve upon them in their future models.

You will also see more partnerships. Partnering is a buzzword for the future of the industry. Why? Take this example into consideration. Arda Bafra, Executive Director of Design, Automotive, Maxim Integrated said that when autonomous cars become more affordable and available we will all become both drivers and passengers at the same time. With that, two things will have the most importance; displays and entertainment inside the car, and safety features. Both of those will require high-speed data communication and this presents various challenges. In order to overcome those challenges, it will require collective efforts by partnering big brands with startups across the globe. We will all soon be introduced to new companies that were never part of the industry before but will have a huge impact on the future of the industry going forward.

Although this all seems futuristic and a bit far-fetched it is happening and happening quickly. Do not be surprised if these changes happen within the next few years as companies are trying to offer the latest and greatest before their competitors. The car industry will not be the same in a few years but it is exciting to know that big changes are coming.