The automotive industry is adopting technologies such as Artificial Intelligence (AI) and big data and analytics as well as newer technologies such as the Internet of Things (IoT) and blockchain, these also finding numerous applications in the automotive division.
With the change to digitalization by the world, the automotive industry is gearing up for an enormous change in 2021. 2020 was a slow year with less number of people buying cars during the Covid-19 pandemic. Currently, the industry is starting to rebound and gives an array of hope to everyone.
AI-based autonomous vehicle
They are frontrunners in the automotive industry. AI is already installed in smart travel methods through self-driving cars. Self-driving cars do not need drivers as they run with help of sensors and software for navigation and control. These vehicle aims to reduce human drivers needs and make everyday transport easy. Big companies like Tesla, Google, Uber are making autonomous cars more reliable.
3D printing
The automotive industry is always in finding better performing vehicles and the need to optimize production and streamline supply chains and logistics is also spiking. Industry always faces the demand for new products and vehicles. 3-D printing is being explored in all areas of automotive production. This technology is used to produce tooling and end parts, rather than rapid prototyping.
Electrification
Due to the increase in environmental harm caused the automotive industry outlook to electric vehicles (EVs). Electric cars can reduce fuel usage as normally a car contributes to 15 percent of carbon emissions. EV needs to come up with solutions on high price, poor battery, inadequate charging infrastructure, fleet electrification, and renewable energy-based charging grids.
Digital marketing and dealing
The selling of automotive vehicles online came to effect during the Covid-19 pandemic as well as at least a small proportion of people feel comfortable about the change. About 81 percent of people are not okay with buying new or old cars online, but this is expected to change in 2021.
Blockchain
Blockchain is used in the verification process to improve efficiency across the supply chain and back-office works as well as it can be utilized in management and incentives to improve vehicle information and usage data across the industry.
