Automotive Megatrends and Market Analysis by Technology and Key Companies
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Automotive Megatrends and Market Report Overview
The Automotive Megatrends and Market Analysis report review developments in major automotive global markets with a particular emphasis on growth opportunities, and also considers the new forces or the ‘megatrends’, that are reshaping personal mobility and the industry that provides that. The report also considers the next wave of emerging markets.
Key Megatrends | ADAS Morphing into Autonomous, Connected Cars and Connected People, Industrial Consolidation, New Business Models Proliferating, Next-Wave Emerging Markets, Digital Retail Revolution, and Drive For Greener Cars |
Key Companies | Apple, Baidu, Byton, Cruise Automation, Didi Chuxing, Evelozcity, Faraday Future, Fisker, JD, Karma, and Lucid |
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Key Megatrends in the Automotive Industry
ADAS morphing into autonomous, connected cars and connected people, industrial consolidation, new business models proliferating, next-wave emerging markets, digital retail revolution, and the drive for greener cars are the key megatrends in the automotive industry.
ADAS morphs into autonomous: Advanced Driver Assistance Systems (ADAS) already employ technologies that herald a shift from traditional driver assistance toward totally autonomous control, such as radar scanners and cameras. As driving habits change and technology develops, human drivers will ultimately be replaced by safer and more reliable autonomous vehicles (AVs).
Connected cars and connected people: Personal connectivity has undergone a revolution following the proliferation of the smartphone and mobile internet. The effects are so significant that they are shaking up the transportation space and the way we spend time in cars. The pursuit of better road safety and seamless integration with our digital lifestyles means the connected car is fast becoming one of the hottest topics in technology.
Industrial consolidation: The pressures for consolidation in the automotive business are nothing new and reflect the desire for higher scale and the need to amortize large capital investments. It’s a mixed picture in terms of how successful consolidation has been. Competitive pressures in volume segments have led many to believe that only a handful of very large companies remain able to exploit vast scale economies. However, the continued survival of some smaller independent companies suggests volume segment OEMs can successfully stay in operation if they have a good handle on their markets, brand image, and profitability drivers.
New business models proliferate: The ‘urban transport space’ is becoming a battleground for disruptive business models seeking to carve out market share from traditional players. The speed of change is concerning many in the industry. New business models can emerge very quickly, aiming to revolutionize the driving experience, the customer experience or the car’s interior, and leave traditional players on the back foot. Other factors that will shape the future mobility industry are coming into play, such as the emergence of the ‘digital natives’ and the growth of the ‘sharing economy’.
Next-Wave Emerging Markets: A key trend is continuing urbanization and the growth of megacities. Economic forecasts point to an emerging ‘multi-polar world’ with a growing middle-class in developing countries driving global consumption up. Over the next ten years, a new wave of emerging markets with economic growth will create a new middle-class with considerable purchasing power. Attention will start to shift away from meeting rapid demand in places such as Beijing and Shanghai to a new constellation of rising megacities such as Jakarta, New Delhi, Johannesburg, Tehran and Lagos.
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Key Companies in the Automotive Industry
Some of the key companies in the automotive industry are Apple, Baidu, Byton, Cruise Automation, Didi Chuxing, Evelozcity, Faraday Future, Fisker, JD, Karma, and Lucid.
Apple: It is a huge multinational company manufacturing consumer electronics, consumer software, and services. They have established worldwide operations including manufacturing and retail. Apple has never officially planned to build a car but is working on Project Titan for the automotive industry.
Baidu: It is an internet technology company and the largest search engine in China. Baidu also has expertise in the development of AI systems. It has launched the Apollo Project which is an open software platform for partners to develop their own autonomous driving systems. They attracted big-name partners including BMW and Daimler and has started production of the Apolong autonomous passenger bus.
Cruise Automation: It is one of the leading developers of autonomous vehicles. It has been testing a fleet of autonomous Chevrolet Bolts uand is readying an autonomous ride-sharing program. Cruise is considered to be more safety-conscious than some rivals, but its caution could slow some of its development work. Cruise’s strengths are in autonomous driving which also requires expertise in connected vehicles.
Leading Automotive Companies
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Scope
This report contains an overview of the automotive sector along with detailed related component forecasts, supported by information drawn from GlobalData’s extensive range of sources.
Reasons to Buy
This report has been extracted from GlobalData’s regularly updated online Automotive Intelligence Center. Containing content, tools, and services not found in this report, GlobalData’s AIC offers a cost-effective multi-user car market research solution.
Table of Contents
Frequently asked questions
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What are the key megatrends in the automotive industry?
ADAS morphing into autonomous, connected cars and connected people, industrial consolidation, new business models proliferating, next-wave emerging markets, digital retail revolution, and the drive for greener cars are the key megatrends in the automotive industry.
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What are the key companies in the automotive industry?
The key companies in the automotive industry are Apple, Baidu, Byton, Cruise Automation, Didi Chuxing, Evelozcity, Faraday Future, Fisker, JD, Karma, and Lucid.
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