Technology has always played an integral role in the automotive industry. The importance of technology has recently grown, marking major transitions from mechanical to technology systems in the industry.
According to statistics, technological innovations will increase the costs of new cars by 50% in the next two decades. The development of electric cars is pegged on automation and connectivity technology. So, how has technology changed the automotive industry?
Autonomous Driving
Self-driving systems are revolutionizing the modern automotive industry, with autonomous driving technology eliminating the need for humans to drive a car.
A case in point is Audi. The acclaimed automaker made a self-driving car completely fitted with high-tech control sensors (to discern the vehicle’s surroundings) and a cruise control system (to detect an oncoming car traveling ahead of the vehicle).
The autonomous driving craze will soon catch on. About 55% of small businesses are expected to embrace fully autonomous cars in the next 20 years.
The automotive industry is still innovating autonomous driving technology.
Personalized Driving Experience
Technology is personalizing driving experiences.
Back in the day, car owners customized the 1987 Chevrolet truck’s seat covers and steering wheel cover to improve their driving experience.
Today, artificial intelligence (AI) is personalizing users’ driving experiences like never before. For example, navigation technology can now take full control of a vehicle.
Thanks to technology, vehicles can provide a safe driving experience to drivers with connected driving apps, chat bots, and virtual assistants.
AI understands a driver’s needs, mistakes, preferences, and how they adapt to problems on the road—to offer a more personalized driving experience.
Lower Emission Levels
As technology advances in the auto industry, emissions and pollution levels decrease.
Carmakers are now making electric vehicles, lowering a third of transportation costs—and outsourcing vehicle parts which lower car manufacturing rates. These actions positively impact the environment as the automotive industry turns to eco-friendly technology which saves the environment.
Governments globally are also implementing strict laws on emission levels, changing lifestyles and the way people use vehicles. And the good news is that electric cars are becoming more affordable, so average citizens can buy them. I Need Cash Now, an online lender known for its auto money loan, says that the price gap between EVs and gas-fueled vehicles will shrink in the next decade.
Better Connectivity
By enhancing connectivity, technology is transforming the auto industry. Vehicles are now utilizing internet connection to synchronize with other smart devices inside and outside.
Approximately 95% of new vehicles will be fully connected in the next decade. Connectivity allows vehicles to download automotive software updates and interact with other smart devices without a hitch.
People who own connected vehicles can connect them to their smartphones and remotely start car engines or find parking spots a lot quicker. By 2023, a quarter of cars on the road will be connected; 94% of cars will be connected to 5G in 2028.
Besides everything else, technology is also improving safety standards in cars. For example, collision control sensors and tire pressure sensors prevent accidents. Also, traction control and anti-lock braking systems prevent cars from hitting objects.
