The invention of the wheel by a nomad has set the world in irreversible motion. It was and will always remain to be one of the greatest inventions by human society. What will possible change post 21st century is that humans would have deployed technology to take control over the wheels with automation? The automotive industry, across the world, is one of the most diverse and exciting industries. Every year, millions of people, engineers, and other experts in the industry push boundaries of innovation in the automobile sector. As we tread ahead, we would witness more exciting moments in the journey of the auto sector owing to technological innovations. Automated cars, voice-enabled operations, improved security and IoT, enabled connectivity will evolve out of concepts to serve the humans.
In India, the Automotive sector is growing at a rate of 9.5% per year and is the fourth-largest in the world. Various factors have contributed to the growth of the Indian automotive sector. The expansion of the middle-class strata in society and their increasing disposable income have attracted many consumers to the industry. The industry is also invited FDIs worth USD 23.89 billion until 2019. Government-sponsored initiatives like Make in India has also ushered new levels of growth, wherein the aim is to build India as a global manufacturing centre. To push growth and innovation in the automotive industry, GOI has also reduced GST on electric vehicles to 5% from 12% that was set earlier. Further, the Indian component makers are gearing up to embrace and push investment into technology to emerge as a global hub of innovation. Along with the rest of the world, India too is focused on evolving with the auto sector to comply with future ambitions and demands.
Embracing technology: E-mobility and connectivity
The Indian automotive sector is standing at the cusp of transformation and upgradation. In the future, vehicles will depend upon a number of apps and other devices to function efficiently. Here, data will also play an essential role in many ways. For example, selecting a suitable route to reach a defined destination basis real-time data. Let us look at some of the innovations in the automotive sector under process:
With help from technology intervention, the emergence of electric vehicles are winning over the world as they’re not only people friendly but also environment-friendly. Collectively, consumers across the globe are transforming and are more willing to use products that have minimal or no harmful impact on the environment. In this regard, the automobile industry is geared up to expand the production of electric vehicles to reduce the usage of fossil-based and non-renewable fuels.
AI and ML
The possibilities of deploying AI and ML in the automobile sector is one of the trending discussions. Mostly, because it will allow the players to automate various functions of their vehicles, further, AI and ML will play a vital role in deepening the connection between the use and his/her car. Users can quickly check their engine’s status, monitor temperature, and also turn their vehicles into a connected alarm mechanism. Any future challenge in the vehicle can be observed and fixed in time.
The third-party players, such as Google, are already working on systems to enhance users’ experience of smart cars. Android Auto has already been developed that allow users to stay connected while driving and also perform various functions via voice command. While it is at a nascent stage, but the possibilities here are infinite, and we can expect the launch of several robust systems to enrich driving experiences.
Enhanced safety and security
While the concept of AI in the automobile industry supplies us with the exciting future of self-driving cars, it also promises enhanced safety and security of the users. In reality, we may first experience the autonomous vehicles in the commercial segment before coming face to face with self-driven cars on the road. As a first move towards the adoption of autonomous vehicles, the government of India has made it mandatory to install ADAS in all the new cars and other vehicles to be sold by 2022. ADAS stands for the Advanced Driver Assistance System and is an essential part of autonomous vehicles to promote safety. The system helps detect objects such as other vehicles and pedestrians and avoid a collision without manual intervention.
Real-time data and predictive analytics
With IoT-enabled technologies, vehicles will be able to access real-time data in massive quantities and also present a comprehensive analysis of the same for its users. From communicating simple information of traffic jams to sending an SOS to the concerned service provider in case of an emergency, vehicles will supply all the relevant data and information to save time and drive better.
Managing testing and measurement
With increased dispersion of technology, consumer demands, and high industry competition, the gestation period of introducing innovative concepts in the automotive industry is reducing drastically. This puts the test and measurement teams under immense pressure to align their processes as per the renewed goals and also impacts the budget allocated for testing. However, the companies can now save their up-front cost of acquiring equipment with help from third-party solution providers. Due to various benefits and flexibility offered in terms of short-term renting, long-term renting, and other types of schemes on testing equipment, various auto firms are already reaping the benefits of such services. In terms of testing, the auto firms are readily adopting a new mantra of “renting is new buying.”
Courtesy Electro Rent India