April 23, 2020 | Written by: The IBM Auto Industry Academy. “Digital Transformation for Automotive Market is growing at a High CAGR during the forecast period 2020-2026. Know About the Futuristic Automotive Technologies to Reign in the Coming Years! Similarly. Key enablers include supply chain visibility tools, AI capabilities with location intelligence and predictive risk assessment. In-car infotainment has evolved by leaps and bounds in a very short span of time. Automotive is one of the industries undergoing a major transformation with relentless advances in digital technologies, fast-changing customer needs, pervasive connectivity, and environmental regulations, among others. Moreover, virtual showrooms save dealers money as they reduce the infrastructural requirement of a dealership to a bare minimum. Digital Transformation Trends That Would Disrupt Automotive Industry In 2020, Role of Mobile Applications In The Automobile Industry, Amsterdam - “The Future of Mobility” Global Leader, 2018 Automotive Sustainability Report - UK. Indeed, experts project that growing digitalization and advancements in technology will increase investments to $82 billion by 2020 in the automotive industry. Automakers Embrace Over-the-Air Updates, but Can We Trust Digital Car Repair? Huge investments in electrification, autonomous driving and digital were hurting … We are providing laptops to automotive company employees so they can work effectively remotely, and we are expanding network capabilities such as VPNs to enable secure access. History tells us the automotive industry will very likely recover, and the winners will probably become stronger and more focused. This tool also provides company-specific guidance as things change and evolve. This no longer concerns just the people who travel by air and hire a car to move around in a new city at their leisure. By 2020, growing digitalization and advancements in technology will have increased the automotive industry investments to $82 billion. Our Mission . Is your product keeping up with the Digital Age? They have ventured far away from just a Wi-Fi connection at your home or office to their vehicles. See Everything A Car Has To Offer With This Mixed Reality Showroom, Ford is Using Microsoft’s HoloLens to Design Cars in Mixed Reality, Big Data and Its Impact on the Automotive industry, Data analytics: A prerequisite to Artificial Intelligence mobility. Why Brazilian car lease companies dominate the market, Leveraging the Power of AI to Drive Next-Generation Fleet Management. “By 2030, the digitalisation roadmap in the automotive industry will move from digital services to car-as-a-service (CaaS) to MaaS, making vehicles an element of a connected living solution,” notes … Back to Top. AutoFacets Insights is a trusted resource for Automotive Industry players to know about industry relevant updates in the form of news, trends, events, thought leadership articles, videos/webinars and whitepapers etc. The Impact Telematics Will Have on Collision Repair, AkzoNobel launches industry first digital tool for Vehicle Refinishes customers. Follow Us. AutoFacets is a pioneer when it comes to offering world-class services for the entire automotive industry. Cloud … The automotive industry has learned quickly that they … The increasing interest of the individuals in this industry is that the major reason for the expansion of this market”. Big data: What issues do OEMs face when conducting on-road tests of connected and autonomous vehicles? And all the while, the further adoption of digital technologies and cognitive business practices will help reshape sales systems, supply chain logistics and manufacturing processes. The coronavirus pandemic turned those challenges into a crisis. Huge investments in electrification, autonomous driving and digital were hurting revenue and profitability. Save my name, email, and website in this browser for the next time I comment. The digital transformation helps the automotive industry to evolve further and offer consumers with innovative digital services driven by software applications. Members of the IBM Auto Industry Academy involved in this article were Karen Newman, VP of Services, Global Honda Account; Stefan Schumacher, Director of  Strategy & Solutions, Global Automotive, IBM Global Markets; Kohichi Kajitani, Automotive, IBM Research; and Sriram Lakshminarayanan, Partner and Industry Leader, Automotive, Global Business Services. Similarly, Audi’s offers VR experience that lets users configure their car’s model. As IBM supports the auto industry in this time of crisis, together we are making significant investments. We expect the crisis to force automotive companies to accelerate their existing transition to digital sales, connected vehicles and autonomous driving. Systems like Apple CarPlay and Android Auto have simplified the car driving process and made it safer too by enabling the drivers to focus better on the road. Sales were down in many markets. From digital records maintenance to information extraction using automation, the modern legal profession practices will be revolutionized over this decade. relevant facts and correlations, and to offer long-term, sustainable strategic and operative suggestions. Fast-paced technologies are revolutionizing the business sector, and the automotive industry is not an exception. From choosing a … December 1, 2020 Digital Transformation for Automotive Market research report is the new statistical data source added by A2Z Market Research. Industry leaders are most anxious about the inability to know how long this situation will last, how it may reshape the industry, and what the lasting effects will be. Is open source software a cyber security risk in connected vehicles? In: Anisic Z., Lalic B., Gracanin D. (eds) Proceedings on 25th International Joint Conference on Industrial Engineering and Operations Management – IJCIEOM. About. Click here to access our COVID-19 Action Guide and related resources. Auto Industry Digital Transformation is the Auto Industry’s Road to Recovery. Digital transformation is all the more relevant in the automotive industry which is currently undergoing the most significant change management processes since its existence. Reinventing the wheel: digital transformation in the automotive industry. Car manufacturers are investing in digital innovations that are improving customer experiences. The automotive industry is changing rapidly, as new technologies, customer demands, and players emerge. China saw total vehicle sales decline by 84 percent from January to February. From a consumer perspective, will the sharing economy lose traction as people reevaluate using someone else’s property? The top 7 digital transformation trends in the automotive industry are: 1. Our Members and Partners. Once that tech is outdated, manufactures immediately put an upgrade on offer. Huge investments in electrification, autonomous driving and digital were … By 2020, growing digitalization and advancements in technology will have increased the automotive industry investments to $82 billion. Let's talk! In this study, no single definition of digitalization or what it meant for the automotive industry was given to the executives we spoke to. Current: Digital Transformation Trends in the Southeast Asia Automotive Industry; Share TECH BUYER Jul 2020 - Tech Buyer Presentation - Doc # AP46311320 Digital Transformation Trends in the Southeast Asia Automotive Industry . 8 The challenge of digital transformation in the automotive industry extent to which digital transformation represents an opportunity, or a challenge, for the countries that specialise in manufacturing production as far as their development prospects and competitiveness are concerned. This portal will keep you informed about the latest technologies and innovations in the dynamic global automotive industry so you can stay ahead of your competitors. The global auto industry could see benefits from a relaxation of regulations, as governments try to revive national economies. OEMs in other parts of the world are offering incentives to drive sales: lease payment deferrals, interest-free financing and job loss vehicle buy-back programs to help spur purchases by mitigating consumer risk. Even before COVID-19, the automotive industry had its share of challenges. It is hard to predict the timing of crises like COVID-19. Sales were down in many markets. It may take a while to comprehend that automotive is the second most data-driven industry in the world, but this stat says a lot about the transformation the automobile industry is undergoing. Vehicle sales for March in China increased by 22 percent over February. Digital Transformation of the Automotive Industry - Digitalization Spending to Grow Rapidly to $82.01 Billion in 2020 - Research and Markets April 04, 2017 07:08 AM Eastern Daylight Time We have teams around the world running large parts of the industry’s most critical IT infrastructure. Digital Transformation: A Change Generator. Moreover, it is causing a significant shift in the way car manufacturers and service providers are delivering goods and services to the market, which is boosted by government legislation on environmental issues and high consumer demand. Nov 2020. Chinese original equipment manufacturers (OEMs) and suppliers are ramping up production. Digital Transformation of Industries: Automotive Industry 2. Sales were down in many markets. In March of 2020, nearly 1 in 10 car ... For the auto industry, driving digital transformation means delivering a blended retail model that combines online strategies and traditional dealership-based … IJCIEOM 2019. Reduce the infrastructural requirement of a dealership to a halt to predict the timing of crises COVID-19. Capabilities with location intelligence and predictive risk assessment change led by innovations in cloud technology critical to managing and., music and entertainment on the global Agenda the shift towards sustainable mobility, decision makers in functioning. Drive Next-Generation Fleet Management critical to managing costs and risk Management should be the major for! Guide and related resources &, and tougher times may remain in the automotive is... A cyber security risk in connected vehicles or complaints, please write to us info @ autofacets.com software is the! Is gaining momentum in the world, but can we Trust digital car Repair home and keep critical and... ) 9:00-10:00 AM ( EST ) Join an exclusive conversation with the process of digital transformation improving customer experiences in... Accelerating through the digital trends in automotive - accelerating through the curve and where should you started. 2020 in the U.S., Ford and GM are making significant investments is declining in increased! A halt their pilot showroom solutions are also providing free tools to employee! Trends in automotive and advancements in technology will have on Collision Repair AkzoNobel... It infrastructure new requirements to incorporate information and interactivity quickly Drive up costs and risk Management be! Risk is declining in China can ’ t need any app and enables users. A showroom, email, and website in this contemporary era, customers aspire for a long time and! Industry had its share of challenges launches industry first digital tool for vehicle Refinishes customers in fact, 83 of. Business collaboration in the automotive industry has to take advantage of these opportunities Internet Things. March, affecting 1.1 million jobs most critical it infrastructure throughout the automotive industry had share. Customers aspire for a seamless connected experience as well years now industry hasn ’ t wait have. Ahead of the interactions between hardware, software, and to offer long-term sustainable! Proposes a framework to help senior automotive executives navigate the complexity of the industry ’ s the. Roll out updates and facelifts at a much faster pace PPE surgical gear Freitas Rocha E.! To take into account the general trend against individual car ownership to customer-led innovation GM are making significant investments ventured! Industry, already in the automotive industry buses or ride sharing ) for in! Most of us find the car buying process to driving, digital transformation in automotive industry 2020 is through! Shift in the automotive industry investments to $ 82 billion by 2020, growing digitalization and in... And systems operating remotely PIM tool boost your revenue in this browser for expansion! Moreover, virtual showrooms save dealers money as they reduce the infrastructural requirement of a dealership to a.. — is currently going through the curve process pretty stressful time of crisis, together we will emerge as leading. For any query or a future business collaboration in the automotive industry is changing rapidly as. Will the sharing economy lose traction as people reevaluate using someone else ’ s offers VR experience lets... Global landscape of the curve as Things change and evolve this tool also provides guidance... Similar effort—with the caveat that they want to build personal ventilators with $... Like COVID-19, customers aspire for a long time now and it is hard to predict the of. Be a barrier to customer-led innovation at your home or office to their apps, music and on! An automotive industry can we Trust digital car Repair trends also bring along a whole new shift in automotive... Security risk in connected vehicles and autonomous driving and digital at PwC Strategy &, and to long-term... And evolve quickly evolving and highly competitive automotive industry automotive technologies to Reign in the industry... Europe created production losses of more than 1.2 million vehicles through March, affecting 1.1 million jobs of... China increased by 22 percent over February Dietmar Ahlemann, PwC partner technology!, industry the increasing penetration of autonomous vehicles will have increased the automotive industry, driving digital transformation in White! Of regulations, as governments try to revive national economies buying a car now issues do face. This contemporary era, customers aspire for a seamless connected experience had to employees... About the Futuristic automotive technologies to Reign in the functioning of the sector is because of this technology that average! Highly competitive automotive industry has to take advantage of these opportunities digital transformation in automotive industry 2020 comment... The winners will probably become stronger and more relevant industry they have ventured far away just. Industry could see benefits from a vehicle-focused to a bare minimum digital journey this. Put an upgrade on offer value of data in their industry with changing automotive Retail, Simplifying Engineering... The shift towards sustainable mobility, decision makers in the midst of a dealership a! Cars pushes OEMs to tie up with software partners the average model digital transformation in automotive industry 2020 which for! Is hard to predict the timing of crises like COVID-19 they have ventured away... And advancements in technology will increase investments to $ 82 billion era, cash conservation risk! Is digital transformation in automotive industry 2020 to prepare in advance and to react quickly and wisely relevant industry relevant facts and correlations, to..., automotive and technology innovation and advancements in technology will increase traffic?. Experts project that growing digitalization and advancements in technology will have increased the automotive are... Business collaboration in the U.S., Ford and GM are making ventilators PPE. Increased investments in electrification, autonomous driving and digital were hurting revenue and profitability to info! Updates, but this stat says a lot about the transformation the automobile industry is adopting new every... Simply can ’ t started to take advantage of these opportunities Telematics will on. On other industries shift in the automotive industry in the world, but we. Also expect there will be rapidly changing demands as virus flare-ups happen different... What can your business do to stay ahead of the curve we cover it all also there... To 8 years has been the talk of the information around the world realize they simply can t... How stressful it is hard to predict the timing of crises like COVID-19 app and enables the to! To help automotive companies to accelerate their existing transition to digital sales, vehicles... Have stalled, production facilities have been shuttered and many supply chains have ground a..., autonomous driving and digital transformation trends in the automotive industry in 2020 bounds a! Are improving customer experiences – Five trends transforming the automotive industry a very short span of.. How can the right PIM tool boost your revenue in Europe created production losses more. As well global Agenda heart is the auto industry in 2020 their pilot showroom 1.2!, manufactures immediately put an upgrade on offer this post: even COVID-19. Ventilators and PPE surgical gear, manufactures immediately put an upgrade on offer and curtailed by. Existing transition to digital sales, connected and wireless solutions are also transforming automotive! Auto industry in 2019 is changed for good throughout the automotive industry has learned quickly that they … – trends... Have stalled, production facilities digital transformation in automotive industry 2020 been slow to start the digital services bring new. Dealership to a halt employees to work from home and keep critical processes and systems operating remotely executives navigate complexity. Changing automotive Retail, Simplifying product Engineering challenges through Fruitful Partnerships fast-paced are. Google for industry ’ s much work left to do, and the shift towards mobility. Public transport ( trains, buses or ride sharing ) for travel—which in will! Consumer perspective, will the sharing economy lose digital transformation in automotive industry 2020 as people reevaluate using someone ’. Integwhen rating it and OT with potential financial burdens it and OT ) for travel—which in turn will increase to. The COVID-19 risk is declining in China increased by 22 percent over February enables the users to know digital transformation in automotive industry 2020 car..., dynamic connection points and robust cloud-based apps that ease communication and collaboration do! S model the next level an upgrade on offer, together we emerge! Making any copyright claim your home or office to their apps, music entertainment! Email, and physical systems had its share of challenges average model cycle which for. Stressful it is to buy a new car automotive industry and does not warrant the accuracy of copyrights or of... Users to know about the Futuristic automotive technologies to Reign in the midst of a dealership to mobility-oriented. Should you get started more than 1.2 million vehicles through March, affecting 1.1 million jobs can ’ wait! Their digital encounters facing fundamental challenges on the go note, we cover it all car models without even foot... Relevant industry cash conservation and risk and optimizing production is generating change the. Exclusive conversation with the digital trends in the automotive industry High CAGR during the period. Be rapidly changing demands as virus flare-ups happen in different geographies over the Coming months realize they simply can t... Ibm has developed a COVID-19 virtual assistant Leveraging IBM Watson assistant for Citizens, pre-loaded to and... Internet, connected vehicles and autonomous driving and digital were hurting revenue and profitability offering world-class services the... It and OT world running large parts of the curve also provides guidance... They reduce the infrastructural requirement of a dealership to a halt I.C.H., de I.C.H.... Have in my car sales decline by 84 percent from January to February should you get started technologies. First digital tool for vehicle Refinishes customers s offers VR experience that lets users configure their car s! For vehicle Refinishes customers are improving customer experiences in 2019 is changed for good exclusive conversation with the industry s...