How recent trend in automobile industry is impacting global market?

Automobile industry is one of the most innovated industries. It has gone through tremendous
technological evolution and innovation trends that have made it the industry we see today. The once
traditional vehicles are now driven with complex technology like artificial intelligence, internet of
things, cloud computing and big data.
Global market has seen positive trends in automobile industry. Automobile industry uses innovative
technology to make the experience of users smooth and better than conventional technology.
Automobile industry has to come with better business strategies to attract more customers every
year. The demand for automobile is going down due to increasing cost of the vehicles by middle- and
lower-class group of the society, also public transportation is boosting.
Automobile industry is a monopolistic competition industry. There are not a lot of manufacturers in
the market, a few companies dominate the market share. There is no restriction to the entry and
exit of new companies but the process of procuring raw material, manufacturing and assembling is
quite expensive. Technology will not reduce the cost of the vehicles but they will make driving a
whole new experience for the users.

Automatic driving

On of the most influential trends in automobile industry is of automatic driving. All leading
companies are using innovative and better technology to enable self-driving in modern cars. Artificial
intelligence will make this possible by connecting the vehicle with the devise of the user. Self-driving
is one step forward to superior human-machine interface. The internet of things will enable the
vehicle to sense its environment and will drive safely without human interference.

How vehicles sense their environment?

Vehicles sense their environment through GPS, radar, inertial measurement units and sonar. GPS
enables the vehicle to sense the navigation path and to interpret any obstacles in the path of driving

Health tracking and monitoring vehicles

Biometric of the users are in early developmental stage. Engineers are developing technology that
will enable the vehicle to track and monitor the health of the driver like measuring blood pressure
and to check the exhaustion of the driver. Health risks that are associated with the driver in order to
prevent any mishandle. Many vehicles have facial recognition in modern cars to identify the driver of
the car in case of theft or robbery. These global trends are obtaining big market share, inviting more
finances.

Electric vehicles

Automobile industry understands the need to dig for electric cars. Electric vehicles are the near
future. The production of the vehicles is not easy for new start-ups. Big automobile companies are
aware that we need to look for alternatives of petrol and diesel. Countries like Norway are providing
subsidies to its citizens if they purchase an electric car.

Electronic buying and selling

People can check the cars they want to buy from their home. They can enjoy the whole driving
experience from their homes. Users can buy the vehicles digitally and understand the necessary
information about the features of the car and names of the dealers while siting at home.

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