Make space for some amazing technological advancements happening in the automobile sector.
The industry right now is booming with progress in technology. All the growth taking place is shifting the outlook of the sector to a whole new level making it the most progressive sectors of all.
The future, for sure, holds much more for the sector. And that is something to look forward to for manufacturers, retailers and consumers.
Let’s acknowledge the latest developments in the sector and how they have impacted its growth.
Paradigm Shift in the Pattern of Shopping for Cars
Consumers, when shopping for a vehicle, seek for advice from family and friends. Therefore, the trust building factor in the business has raised.
Interestingly, the customers are more inclined to buy vehicles online these days. This helps them avoid the hassle of paperwork.
Besides this, the enhancement in Virtual Reality (VR) technologies are adding to the opportunities of involving customers for a whole new experience.
In the near future, it is expected that VR technologies will permit customers to compare different models, build a vehicle and choose the features. They will be able to test drive it and finance it too as per their convenience.
The VR technology is hoped to be backed up by 5G as it supports 10 to 20 times greater speed than today’s network.
Customer Facilitation with Innovation
The Original Equipment Manufacturers (OEMs) in the automobile industry can look forward to designing and making vehicles with customized interiors, loaded with futuristic display screens, speakers and network connectivity to help the customer stay connected globally.
The manufacturers are involved experimenting with next level innovations like configurable seats, windows convertible into video monitors.
Giving customers personalised experience by storing their preferred music choices, news, videos and other entertainment oriented facilities in the cloud and vehicle is the vision of future.
All these changes and their adaptability will give rise to the number of customers enriching their experiences and interest in the product.
Value Creation by Automation
Imagine your vehicle automatically going for its servicing and maintenance.
Well, this could be the future of the industry with progress and experiments going in and around it.
Moreover, the vehicles will too stop at your favourite grocery store and other stores automatically with material technology embedded in it.
The sensors onboard will connect, manage, recognise and collect data for machine-to-machine communications.This will enable machine to communicate with each other eliminating people from the equation. The software onboard will include the operating system, voice assistance, 3D maps and critical applications of driving.
Flying to Work
Flying cars is not a far-fetched dream anymore. There are manufacturers in the industry who have plans to induce commercial vehicles in air within the coming years.
However, the number of challenges with this enormous expansion in the travel industry are being recognised on daily basis. It may take long to address all the challenges and find foolproof solutions to them.
The functioning of cars and drones in the sky will widen the opportunities in business for telecommunication firms to retailers, media and ride sharing organisations.