Top Automotive Trends: One of the main forces behind India’s economic expansion and one that plays a significant role in global value chains is the automotive sector.
Strong government support has fueled the sector’s expansion and allowed it to forge a distinct niche among India’s manufacturing industries.
The nation’s vehicle production stands out among other automobile-producing nations because it is specifically designed to meet the needs of the population’s lower- and middle-class segments.
According to 2022 statistics, India’s automobile sector ranks fourth globally in terms of both output and valuation. In terms of sales, India is third in the world’s automotive markets as of 2023.
The value of India’s car sector as of April 2022 was over US$100 billion, making up 7.1% of the nation’s GDP and 8% of all exports.
The Indian automobile industry produced 2,325,959 passenger vehicles, three-wheelers, two-wheelers, and quadricycles as of March 2024.
This blog explores some of the most significant trends in the automotive industry. Let’s dive into it!
Market growth of the Automotive industry
According to SNS Insider, the global automotive industry market is estimated to be worth USD 436.89 billion in 2022 and is projected to increase at a compound annual growth rate (CAGR) of 19.25% to reach USD 1789 billion by 2030.
With a growing middle class and a need for cars in developing countries, particularly Asia, the automotive industry aimed to expand.
Governments throughout the world are offering incentives to promote the usage of electric vehicles, such as electric scooters.
This industry, often known as automakers, encompasses a wide spectrum of motor vehicle development, manufacturing, designs, marketing, and selling.
The Latin word motivus, which means “of motion,” and the Greek word autos, which means “self,” are the sources of the English word automobile.
It refers to an autonomous vehicle. Elmer Sperry was the one who first used the word.
Top trends of Automotive Trends in 2024
Electrification of Vehicles
The ongoing transition of the automobile industry toward electric cars (EVs) is one of the most important trends.
In 2024, this trend will have picked up steam as more people choose electric vehicles (EVs) because of their advantages over fossil fuels, reduced operating costs, and improvements in battery technology.
Some automakers are adding more electric vehicle (EV) models to their lines, ranging from luxury SUVs to tiny vehicles.
While some businesses, like Ford, are reducing their attention to electric vehicles after discovering that consumer demand and sales have slowed down.
Significant advancements in battery technology have resulted in models that offer longer battery life and quicker charging periods.
Solid-state batteries are becoming more common since they can charge more quickly and have a better energy density.
Thanks to this development, an increasing number of people are finding EVs to be attractive options for longer trips.
Businesses like Ample are pushing an intriguing idea: battery-swapping stations.
When a vehicle runs out of gas, they can pull into a changing station and have their car battery changed in a few minutes.
Click here to learn more about ADAS in Electric Vehicles: Advancements & Growth
Autonomous Driving Technology
The field of autonomous driving technology is developing quickly, and 2024 will be a pivotal year in this regard.
While completely driverless vehicles are still in the testing stage, many vehicles are starting to be equipped with many semi-autonomous features.
These consist of advanced driver-assistance systems (ADAS) such as automated emergency braking, lane-keeping assistance, and adaptive cruise control.
The development of Level 4 and Level 5 autonomous cars, which under some circumstances may function without human assistance, is another area of increasing attention.
Organizations including Waymo, Tesla, and conventional car makers are making significant investments in this technology to enhance safety and transform our daily travel.
The advancement of autonomous driving technologies necessitates fast and dependable communication. To ensure the efficiency and safety of autonomous vehicles, Logic Fruit’s FlexRay RTL IP Core provides fault-tolerant, collision-free access and flexible configuration for advanced driver-assistance systems (ADAS). It can support data rates of up to 10 Mbps.
Click here to learn more about the Advanced Driver Assistance System [ADAS]
Connectivity and Infotainment Systems
The incorporation of entertainment systems and enhanced connections is another trend that will influence the car market in 2019.
With capabilities like remote diagnostics, over-the-air (OTA) firmware and software updates, and real-time traffic information, cars are evolving into networked gadgets on wheels.
In addition to improving driving pleasure, this connectivity enables automakers to upgrade the functionality and performance of their products consistently.
With features like voice recognition, big touchscreen displays, and seamless smartphone connectivity, infotainment systems have advanced in sophistication.
To create interfaces that are easier to use and more intuitive, several manufacturers are working with digital firms.
Blockchain
Blockchain technology finds widespread use in the automotive sector.
A select few include ride-hailing, delivery, and transferring vehicle data to a secure network for connectivity and shared mobility solutions.
Additionally, blockchain can be used to verify the spare parts supply chain, guaranteeing that the parts or raw materials are originally supplied from reliable, secure, and lawful sources.
Internet of Things (IoT)
In the huge automobile industry, IoT enables secure interactions between vehicle to vehicle and its infrastructure components.
This technology plays a significant role in enhancing road safety, cutting down on pollution, relieving traffic, and saving energy through improved fleet management.
Advanced sensing technologies are being developed by startups and rising firms to collect vehicle data. It also helps the car to perceive and interpret its environment.
The technology that automates fuel and toll payments is the best feature of enterprise mobility app development.
Via in-car apps, the data gathered by IoT may be leveraged to provide drivers with excellent value-added services.
The information provided by real-time driving data can be used in navigation apps to warn drivers of potential dangers such as poor road conditions, oncoming traffic, and other issues.
However, the manufacturers must handle and manage the software assets found in cars fairly and logically.
This includes carrying out the necessary testing, accurately deploying the software, and keeping track of the deployment to maintain a record.
The connectivity between vehicles and infrastructure is being revolutionized by IoT technologies. To improve overall system connectivity, Logic Fruit’s LIN Master Slave IP offers an effective single-wire solution for low-speed communications between vehicle components.
Advanced Safety Features
In the automotive sector, manufacturers continue to prioritize safety by implementing increasingly sophisticated safety features and systems.
These consist of improved airbag systems, technologies for preventing collisions, and systems for detecting pedestrians.
These technologies are becoming more advanced because of the integration of AI and machine learning, which also offers real-time risk assessment and raises vehicle safety standards overall.
Cloud Computing Models/ Hybrid Computing Models
There is a great deal of collective innovation going on in terms of data pipelines, data capacity, computing capacity, analytics-based algorithms, and artificial intelligence (AI) due to the increased need for computers and data in the automotive industry.
The automobile industry has new computing requirements that can only be met by cloud and hybrid computing models, which provide on-demand access to increased capacity for workloads requiring a lot of computing and storage.
Car companies are collaborating with cloud providers to offer innovation in the right form, and these providers are financing major R&D resources in these areas particularly.
Smart Factory
An essential component of producing automobiles in a uniform, quick, and error-free manner at various locations across the world is a smart factory.
With the assistance of RPA engineers, who are skilled in the application of technologies like as modeling, automation, and digitization, a stable and adaptable production process may be provided in the foundation.
Digital factories can provide significant financial benefits in addition to automation and robots in the manufacturing sector.
IAR/VR Solutions
It is designed especially for recently hired staff members of a company who want to use the AR/VR model for learning purposes and to digitally present to clients.
There are three main ways that 3D printing helps the car sector. First, with the aid of 3D printed models, it enables quick prototyping.
This quickens the production’s design and testing processes. Second, it makes it possible for the makers to print replacement parts that precisely meet their specifications.
Finally, the additive manufacturing process for composite materials leads to stronger, lighter, and longer-lasting automobile components.
Augmented Reality (AR) Dashboards
The integration of augmented reality into car dashboards is improving driving by superimposing up-to-date data on the windscreen.
This technology eliminates the need for drivers to divert their attention from the road by displaying vital information, such as navigational cues, and hazard alerts, right in front of them.
Augmented reality dashboards increase situational awareness, which makes driving more natural and safe.
To provide drivers with a more engaging and educational driving experience, businesses are creating sophisticated augmented reality systems that interface with other car components.
Vehicle augmented reality dashboards demand effective data management. To improve maritime displays and driver alerts while preserving overall network efficiency, Logic Fruit’s CAN Controller IP Core makes sure that AR systems receive fast and correct information.
Conclusion
The automotive trend revolution heralds a paradigm shift in how we view, engage with, and use cars.
The automobile industry is going through a significant transition, from the emergence of electric and driverless vehicles to the incorporation of enhanced networking and smart technologies.
This revolution reimagines the driving experience, safety regulations, and entire transportation infrastructure in addition to addressing environmental problems through the promotion of sustainable mobility.
In 2024, the automobile sector will have a dynamic and changing landscape due to advancements in technology, growing environmental concerns, and shifting consumer tastes.
In addition to changing the sector, these trends are also changing how we think about mobility and transportation in the future.
Examples of these trends include electrification, autonomous driving, increased connectivity, and sustainable practices.
As these trends advance, they should result in more effective, safe, and pleasurable driving experiences for drivers everywhere.
