Emerging Trends in the Automotive Sector

Emerging Trends in the Automotive SectorPerhaps no industry has been as proprietary about their intellectual property as the automotive sector where their product development is their competitive edge. However, no matter what automotive company you work for, there are some emerging trends that will impact your roadmap. And that’s one of the reasons that collaborating with the crowd (at least for initial ideas) might be a great benefit to car manufacturers. Here are just a few of the emerging trends that we’ve seen.

Electric Vehicles. This change can’t come soon enough. Some states are even pushing to only register non-fossil-fuel burning cars as soon as 2040, because nearly 40% of carbon emissions come from transportation. Car manufacturers are already introducing more and more electric models.

Autonomous Driving. It’s hard to believe, but some estimates put 95% of cars on the road to be autonomous vehicles by the year 2040. Even by 2020, we’ll start to see them on the road more often. Who is going to be most excited about this new trend? My guess is parents of 16-year-old would-be drivers. Now all the good and bad driving decisions will be in the hands of programmers.

Sharing Economy. More and more drivers don’t plan on owning their own vehicle – whether they plan on using car-sharing services like Zipcar or creating their own shared car ownership model, it’s become less important to be a sole owner of a dedicated vehicle. Interestingly, predictions for car sales don’t seem to slow down in spite of this.

Personalization. Depending on the consumer, drivers want new entertainment systems, driver assistance, navigation, communication requirements and more. But everybody wants different things so finding ways to make car offerings modular and flexible is a challenge to product designers in the automotive industry.

Want to know more? Mckinsey shared this insightful article about what the emerging trends are in the automotive sector. If you want to see how one auto manufacturer responded to emerging trends by involving the crowd in their product development, download this case study.

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