What trends will the automotive industry face in 2021?

The automotive industry is quite known for making industrial- and tech progress at quite rapid speed – especially in terms of vehicle development. The industry has also been adopting to technologies like artificial intelligence (AI), data and analytics for the last couple of years. An area that is in its mid of further development to say the least.

The automotive industry is gearing up to an enormous change in 2021.

AI-based vehicles.

The frontrunners in the automotive industry are without a doubt AI-based autonomous vehicles. Smart travel methods through self-driving cars has been enabled with artificial intelligence for quite some time. Drivers are not required for these vehicles, what’s needed on the other hand is sensors and advanced software for navigation and control. Today, around 1.400 self-driving cars are estimated to be on the US roads and the autonomous vehicle industry is estimated to be worth 556 million dollars by 2026, a number that most likely will begin to increase during 2021 as new investments and applications will be explored. 

Digital marketing and dealing.

Selling vehicles online came to a somewhat reality during the 2020 pandemic. A futuristic way of selling cars that has changed the automotive industry forever. Visiting dealerships and trial driving has been a mandatory part of purchasing a car, however, global lockdowns has switched focus to online solutions. As of today, a majority of modern dealerships are trying to normalize online car buying by providing digital video solutions and virtual tours of their inventory. During 2021 automotive consumers are expected to adapt to this new buying journey to a much greater extent.

Electrification.

The automotive industry has gone through mandatory, dramatic changes in terms of increased fossil fuel rates and its harm on global environments. Electric cars have addressed the issue by providing a higher level of energy and reduced fuel use. Over 1.6 million electric vehicles  were estimated on US roads in august 2020, which is much higher than the 1.4 million vehicles that were expected by 2024.

Source: https://www.analyticsinsight.net/top-5-tech-trends-that-will-transform-the-automotive-industry-in-2021/

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