A new
technological decade has unfolded, and businesses are gearing up to keep pace
with the emerging trends and evolving user requisites of this era. Industry
giants are claiming to have their strategies in place, in order to mitigate any
risks which the year 2013 may pose. But are all industries indeed ready?
As of March
2013, the US automotive industry has recorded a sale of 3,689,089, but will the
pace be maintained throughout? Are mobility firms prepared IT for the next decade?
In order to determine this, automakers will need to keep an eye in the emerging
trends of the industry and adopt them into their business models. Here are 5
key trends which every mobility firm must be mindful about as it strategizes
for the upcoming financial year.
Governments
will regulate the need for safer and cleaner transportation. As far as secure
individual mobility is concerned, governments are currently focusing on three
core areas- environmental compatibility, preservation of resources and safety.
This will prompt original equipment manufacturers (OEMs) to render a
diversified range of safer and cleaner vehicles, especially zero-emission
transportation. While, consumers will weigh their vehicle-buying decisions
based on penalties and incentives at their disposal.
New players
will set foot in the automotive sector. The evolving consumer needs,
introduction of Automotive IT solutions and advancing technology have paved way
for new entrants to set foot in the mobility market. Even non-automotive firms
are rendering services like mobility integration, car-sharing and 'black box
insurance' based on usage, which decides the premium limit based on electric
vehicle integration, real-time evaluation of driving performance and advanced
car entertainment systems. The evolution of these new business models will
allow the new players to become an integrated part of the traditional
automotive value chain.
Automotive
marketing will get an edge with social media initiatives. The marketing trends
in the automotive industry have witnessed a major shift. From showcasing a
gleaming car in a 30-second slot, the means of marketing have become more
social. Lately, consumers have been doing a thorough research before deciding
upon which vehicle to invest in. Social media platforms have facilitated the
access to a plethora of information, including perceptions and opinions of
other consumers. Buyers are resting their decisions on reviews which they
acquire from influential blogs and websites, other consumers and news features-
sources on which the mobility firms can't exercise any control. At the same
time, OEMs are harnessing social platforms to develop closer bonds with
consumers. They are adapting to the paradigm shift and utilizing it to market
their products to a wider audience base.
OEMs will
look forward to rationalizing their portfolios. Post surviving the recession
blues, most OEMs will shift their focus from volume to sustainability and
profits. Emerging OEMs will look forward to climbing up the scale as soon as
possible, by either acquiring in their home market or eyeing the developed
nations, in order to build a global presence.
Globalization
of the sector will result into emergence of new risks. Globalization is paving
way for new risks and OEMs are continuously devising radical operational
strategies in order to mitigate these risks. Whether it's the volatile prices
of raw materials and misalignment of demand and supply, or it's the shortage of
qualified workers and changing regulatory prices, automotive firms are facing a
reality check pertaining to their globalization efforts. In the wake of these
challenges, industry must gear up to implement mitigation strategies in order
to simplify the adaption of the value chain. And implementation of automotive
software solutions is being viewed as one of the prime solutions to these
challenges.
Planning is the key to success in the times to come. IT The automotive industry needs to study the evolving trends circumspectly and prepare their business strategies accordingly.
Steve Graham
is a celebrated author who has been writing for the Automotive IT solutions
Company outsourcing niche for over 3 years. At present, he is associated as an
online marketing pro with a world-class automotive software solutions company.
Comments
Post a Comment