Big changes coming in 2018! Changes in consumer demand are trickling down to provide new opportunities for automotive suppliers. Some of the trends include:
1. Autonomous / Self-Driving Cars
As the public starts to embrace the idea of a3ssisted-driving and self-driving cars, new opportunities are being created for suppliers who can offer this type of technology. This new type of vehicle will require collaboration between multiple partners to integrate the GPS, cameras, sensors, big data and other technology.
2. Predictive maintenance
Internet of Things (IoT) devices are being used by automotive suppliers on the shop floor – and being embedded into consumer vehicles – to indicate when preventative maintenance is needed. Rather than recommending oil changes or tire rotations by mileage, IoT sensors can provide more accurate indications about when maintenance is needed.
3. Variety of fuel cell options
Over the next few years, we’ll see an increased demand for alternative fuel sources like electricity, hydrogen and bio diesel fuels. Automotive suppliers will have to consider how to innovate and service these new niches, and be able to handle the compliance requirements.
Rather than looking through the newspapers for available cars, today’s car buyers turn to the web to custom build the car they want. Sophisticated technology enables buyers to pick out the exact paint and packages they want. Personalization continues into the driving experience. Newer “intelligent” cars are collecting information about driving habits, and patterns to provide a better driving experience for customers, and more marketing insight for car sellers.
5. Data Security
These new internet-connected technologies are requiring more vigilance from a data security standpoint. Information relayed over the Internet poses a risk, and manufacturers must be mindful of preventing cyberattacks.
Automotive suppliers looking to capitalize on these emerging trends need to consider:
- How their supply chain will be impacted
- How their ERP systems and business processes will need to change
- Where they will find the skilled workers
- Whether the margins and risk levels are reasonable
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Author: Mark Schindler, Software Sales