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Automotive Digital Services Market Outlook 2030 -
Traditionally, “digital retail” in the automotive industry means that customers can learn, research, and compare vehicle features from traditional sources such as OEM websites and consumer reports. Recently, many digital disruptors like Tesla have entered the market to provide unique Omni channel experiences, such as flexible return policies, virtual auctions, remote parking assistance, door-to-door delivery, online transactions, and virtual exchange valuations. These digital leaders recognize the shift in customer expectations and focus on creating a seamless user experience throughout the purchase process by involving the application. Customers can use the app to activate additional functions for their vehicles. Automotive software, automotive operating systems, and operations that can be performed with it are the core of the digital service business model in the automotive industry.
COVID-19 Impact analysis
The COVID-19 outbreak has disrupted the automotive industry on a large scale. It has led to the suspension of manufacturing facilities and a fall in the volume of sales but it has positively affected the automotive digital services market as it has forced dealers to use digital tools to complete remote sales and changed the ratio of sales operatives per vehicle for the first time in 20 years. Also, it has awakened the supply chain managers and manufacturing companies to adopt automation and robotics in order to reduce dependence on human labor and increase productivity, hence preventing the chances of future plant shutdowns. Thus, this pandemic provides the automotive industry opportunity to adopt trends like IoT, AI, and digitalization and change the way of operating.
Top Impacting Factors
Market Trends
Artificial Intelligence projected to amplify adoption
Artificial Intelligence (AI) is changing the way we do business and lifestyle. From healthcare to finance, data security, travel and transportation, and social media, it is making advancements every day. When it comes to the automotive industry, artificial intelligence will bring about tremendous changes. One of the primary concerns of the automotive industry is to ensure the safety of the driver while driving. AI provides advanced safety features that can identify dangerous situations and alert the driver when a potential accident is detected. If the driver can no longer drive, it can also carry out emergency control of the vehicle. In addition, the artificial intelligence cloud platform ensures data is available when needed. By monitoring millions of data points per second, artificial intelligence can predict component failures and repair them before they wear out. It can not only save the driver's life but also save his bank deposits. Artificial Intelligence is making major breakthroughs and developments in the automotive industry. Coupled with the power of machine learning and big data, it will completely change the way we get to our destination. It can not only simplify traffic flow and monitor congestion but also improve driver safety. It will also provide new chances for marketing and entertainment.
Key benefits of the report:
Questions answered in the digital services market research report:
Automotive Digital Services Market Report Highlights
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By Application |
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Key Market Players | FEV Group, Bosch, TomTom, Volkswagen, Uber Technologies, Continental, MAN, Daimler, Bayerische Motoren Werke (BMW) Group, PCG |
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