As the global population increases, we are seeing a rise in how many cars are out there, especially in emerging markets. The number of vehicles on the road worldwide is projected to triple by 2035, to as much as 3 billion vehicles. With these numbers, companies are going to have to continue to innovate and create the vehicles consumers want in order to keep their sales up.
Technology has opened many doors for all different industries, including transportation. The following is a list of some of the top trends expected to be seen in the upcoming years for the transportation industry.
1. New Materials
There are a couple of different reasons why new materials are going to play an important role in the manufacturing of vehicles. The goal to reduce weight to meet fuel efficiency standards means manufacturers are going to have to be creative about what materials they use. Also, electrification drives the need for light weight vehicles to increase range and reduce the battery size.
3D printing is expected to have a significant and positive effect in the transportation and shipping industry once it really kicks off. Vehicles are expected to be made from 3D tools services and maintained by 3D parts.
2. Connected Cars
The Internet of Things is connecting us to everything now more than ever. Data plans are going to be able to deliver software updates to vehicles, send traffic data to the navigation system, and provide internet to the driver or passenger. Some connectivity in commercial vehicle fleets is already providing drivers with benefits. Companies like Telogis use location and vehicle data to plan fleet purchases and efficiently route, manage, and maintain vehicles. We can even expect insurance companies to begin using the systems placed in cars to determine who is an unsafe vs. safe drivers.
3. Autonomous Vehicles
Google’s vehicles were just the beginning to what options we are going to have access to in our vehicles. Three years ago, the sensors Google was using on their autonomous cars cost more than $70,000; today, these same sensors cost one-tenth of the price. Other car manufacturers are using these same sensors to change how their cars drive. Autonomous will provide new opportunities for the elderly and disabled, help with safety and fuel efficiency, and, even help with traffic congestion.
4. Consumption
Today we are seeing fewer people actually owning cars. The options for transportation are causing consumers to purchase cars less often. The options to lease vehicles make it unnecessary to actually spend $20,000 and higher on a new car. Also, we are seeing emerging options such as Uber and Lyft. These new methods of transportation are seen as safe and comfortable, opposed to public transportation. Overall, consumers don’t necessary see the driver’s seat as the best place to be anymore.
As these options for vehicles become more available from certain manufacturers and brands, consumers are going to have higher demands for these new car features. Vehicle manufacturers are going to have to be innovative to implement these trends over the upcoming years.
To learn more about this industry, check out all of our syndicated research reports on the transportation industry.
Thanks for reading!
Caitlin Stewart
Marketing Associate
MarketResearch.com
