What Is Automotive Industry?
The automotive industry includes a wide range of companies and organizations which have their involvement in the design, development, and manufacturing, marketing, and selling of the motor vehicles.
The automotive industry is one of the world's largest revenue generator for the economic sectors however automotive industry doesn't include industries which do the maintenance of automobile after the delivery has been carried out to the end-users and clients just like automobile repair shops and motor fuel filling station.
The word automotive has its derivations from the Greek word autos which means “self” and Latin “motor” which means motion which refers to the self-powered vehicle. This was proposed by Elmer Sperry was first used with reference to the automobiles and dates back to 1898.
Safety With Respect To Automobile Industry
Safety is a condition that implicates to be protected from any risk or damage or a cause of accidents. If I talk especially to talk about the automotive industry safety refers to the fact that users, operators, or manufacturers do not come in contact with any risk or danger which is coming from the motor vehicle or its parts.
And if I talk about the automobiles themselves the safety means that there is no chances or risk of damage. In the automotive industry, safety is very important and is highly regulated.
Automobiles and other types of motor vehicles have to conform to various norms and regulations they could be local or International in order to be accepted on the market. One of the standards that are termed as ISO 26262 acts as one of the best safety frameworks in order for acquiring functional safety.
If I talk about the scenario of safety issues, danger products, or faulty procedures during the manufacturing of the vehicle. Request can be made by the maker for the return of a batch or the entire production run this whole method is termed as product recall and they happen in the industry and could be production-related from the raw material.
In order to avoid product recalls product and operation test is made at different stages of the manufacturing which initiates the security and safety and compliance associated with the automotive industry. Requirements call to the automotive industry is mainly concerned about product recalls which create some heavy financial aftermath.
Impact Of Technology On Automobile Industry
there are many impacts that have been made by technology on the automobile industry .automobiles have become more advanced since they were first created and automobile manufacturers are adapting to advanced Technologies which incorporates a lot of automobile factors like car design, car sales, and marketing and servicing. New technology is being used in the automobile that is now being designed and are adding more convenience and are allowing more improvement in the customer’s experience. Some of the impact of technology on the automobile industry is given as under.
Manufacturing Automobile Has Become Much More Easier
With the use of technology in the automotive industry, manufacturing automobiles has become much easier than you think. Now you are witnessing automobiles being made up by the robots and there are automated processes for the manufacturing of vehicles. This has drastically reduced the cost of production for the automobiles and at the same time, it has helped in the increase of the production volume which means now there is more output with the same given number of input. Through this factor, automakers are able to comply with the demand and achieve the satisfaction of the customer at the same time. The use of Technology is also spread to parts manufacturing which is resulting in easy access to the replacement parts of the automobile from the customers.
Self-Driven Vehicles Are Part Of Reality
What was now considered as a dream has now turned into a Furious reality. with the advancement of Technology, the self-driven vehicles are part of reality although they are still at the development and testing stage we are all set to witness these cars being used all over the world.
The whole of this phenomenon is going to result in more convenience and is going to make the transportation sector much more beneficial for the economy and also profitable. However, there are still some concerns associated with the self-driving Cars but as the technology will advance this concerns will be addressed thoroughly and it is it no surprise that technology changes the way we do things so it will have the same impact automobile industry and it will be one of the top beneficiaries.
Betterment Of The Customer Experience
Technology has helped for the betterment of the customer experience. Let’s consider if you purchase a vehicle from one state. Now you have to drive to another state and if you want to check it you won't have to take it to the dealer from your previous state. With the use of Technology, you can connect the carmaker and they will able to help you out remotely. This phenomenon is adding to customer loyalty as the manufacturers or car dealers are able to solve your card related issues from anywhere in the world.
Commencing Of New Marketing Channels And New Sales Techniques
Technology has also had in the opening of new marketing channels and new sales techniques if I talk about a decade ago we used to have car dealers and retailers outlets which used to serve from the brick and mortar shops. Now with the technology advancement being made in the automobile industry we now have the access to online dealership and retail outlets with the sale the spare parts for the vehicles, these are all the benefits of the new technology as we have internet connections around the globe. If you are looking for a specific headlight you can easily find it online by sitting in the comfort of your home. All of this is adding to the better customer experience and more convenience and you don't have to take a drive around your neighborhood to search for your required auto parts.
Industry It Has Helped In A Better Driving Experience
With all the technological advancements made in the automobile industry. It has helped in a better driving experience there are more intelligent aspects added to the vehicles which are resulting in more safety and security for the road users. there is also an obstacle detection feature which is helping the drivers to avoid accidents that will damage their cards or cause injuries that happen to the drivers which could lead to the death in some cases, there is an improvement in the security aspect in the cars for each passing day and now we are witnessing the manufacturing of self-driving Cars who have all the functionalities to protect themselves and their passengers. Technology in the automotive industry is getting advanced faster than you can think of.
Technological Factors Affecting Automobile Industry
Technology is changing the automotive industry more fatly than we can think of so many concerns of manufacturers like driver shortage, capacity crisis, price of fuel are encouraging them to adopt futuristic Technologies some of the technological factors affecting the automobile industry are given as under.
Self-driving vehicles also termed as self-driving Cars are expected to hit the roads in 2020. They are going to transform your life and there are some largest automotive industry makers who are competing with each other for the commercialization of this technology. There are endless benefits to self-driven vehicles like increase safety, fewer fuel emissions, and allotment of more time which allows people being transported to be more productive in their time.
Artificial intelligence is highly affecting self-driven vehicles and also impacting the overall automobile industry. Artificial intelligence is basically a class of computer science that is working for the creation of machines that can have interaction with humans and other unknown factors. Self-driving cars do not have the ability to react to speed limits and other conditions on the road. They will have to take consideration of things like pedestrians and weather conditions. there are more tests being done in areas that do not have Harsh weather or pedestrians. it is also being said that by 2040 the autonomous vehicle industry will rise to 3.6 trillion opportunities. the auto industry is now being considered as the gold mine for the opportunist and there is a big use of artificial intelligence and autonomous vehicles and artificial intelligence is a pad on a large amount of data.
Introduction Of Electric Vehicles
Another thing which is highly affecting the automobile industry is the introduction of electric vehicles the first electrical vehicle hit the road in 1990 in the state of Iowa. Although it's pretty obvious that the vehicle didn't have many features as fossil fuel vehicles as was not praised by the public. If I talk about two decades later, electrical vehicles are more common than ever before. There are hybrid models that have the capability of running on traditional fuel sources and electricity both. While some of them are totally reliant on the electricity these electric cars are being a source of the reduction of the carbon emissions and now there are more people who are environmentally conscious the fan base of electric cars is going to increase with each coming day.