Automotive:There has been a growing trend toward consolidation in the automotive sector, with the output of motor vehicles resting mainly in the hands of a few large companies and smaller independent manufacturers gradually disappearing. At the same time, where the US was once the clear frontrunner in the automotive sector, othercountries such as South Korea, Japan, and those in Western Europe have been rapidly emerging as strong contenders.China’s rapid growth in vehicle sales for over a decade has taken a new turn with the introduction and adoption of new energy vehicles (NEVs).
The auto industry has been witnessing a sharp shift toward alternative and unconventional fuels, a trend epitomized by Tesla’s business model. Tesla Motors’ game-changing move of focusing on a cleaner, fossil-fuel-free future only indicates the new direction that the automotive sector is headed toward.
Persistence Market Research’s proactive approach identifies early innovation opportunities for clients in the global automotive sector. Our insights on next-generation automotive technologies such as connected cars, automotive emissions control, vehicle-to-vehicle (V2V), autonomous cars, electric and hybrid vehicles, and augmented reality dashboards ensure clients stay at the forefront of innovation.
Our competenciesgo beyond regular market research to deliver tailored solutions in an industry marked with increasing environment regulations, evolving consumer preferences, and a shifting landscape of emerging markets.
Connected vehicles come with an array of advantages that include not just improved vehicle safety but also enhanced vehicle efficiency and shorter commute times. The development and use of a number of different technologies that enable vehicle-to-infrastructure (V2I), vehicle-to-vehicle (V2V), and vehicle-to-device systems(V2X)communication has resulted in the reduced need for new infrastructure, crash elimination, improved energy efficiency, enhanced productivity, travel time dependability, new models for vehicle ownership.
Connected cars, however, are not devoid of challenges. Issues pertaining to privacy, security, the abundance of data, and data analytics are just some of the obstaclesthat companies foraying into this avenue need to surmount. Also hindering the progress of this emerging trend is the lack of connected cars and drivers for testing.Companies are looking to address this limitation and demonstrate their expertise in autonomous driving technology. The world’s largest automaker, Toyota’s, move to send 5,000 connected cars to Ann Arbor, Michigan in a real-world experiment is just an example of how players within the automotive sector are striving to make autonomous driving a reality.
Persistence Market Research offers a host of go-to-market strategies that lend clients a competitive advantage and weigh their capabilities against opportunities in the connected vehicles market.
Automated vehicle technology has the potential to alter the face of motoring. This game-changing technology, made popular by Tesla Motors’ autopilot system, has caught the fancy of prominent automakers such as Audi, BMW, and Mercedes-Benz. The world’s leading centers for vehicle research and technology boast of some of the best engineers, innovators, and facilities that are dedicated to making self-driving vehiclesthe norm rather than the exception. Favorable regulatory environments, support from the right investors, and the drive to deliver the benefits of emission control, road safety, and self-parking, among others, are vital for building automotive technologies of the future. With Uber showing interest in purchasing automated and autonomous cars, the concept of driverless taxis also seems perfectly viable.
Identifying the social, environmental, and economic benefits of vehicle automation technology and offering solutions to overcome the shortcomings that lie ahead is the team of analysts at Persistence Market Research. Our perspective on this rapidly snowballing trend and our approach to making the most of the enormous opportunities in store is just as unique and innovative as this technology.
Automotive Emission Control
The significance of automotive emission control was appreciated even before the Volkswagen scandal tore into the automotive sector. The escalating levels of air pollution have alarmed concerned parties and different countries and companies have been tackling this issue in varied ways. In countries such as the U.S., where the personal automobile is probably the single greatest polluter, the focus is on ensuring personal vehicles are equipped with automobile emission control systems. In other countries like India, emissions from light-to heavy-duty personal as well as public transportcall for more stringent vehicle emission standards.
The increase in travel, the surge in the production and sales of vehicles, tighter fuel economy and tailpipe standards, the introduction of computerized diagnostic systems to identify malfunctioning emission controls, and growing human health and environmental concerns are just some of the driving forces that have led to stricter automotive emission control. Persistence Market Research has its finger on the pulse of the automotive sector, tracking the evolving trends and issues that govern its growth.
Original Equipment Manufacturers
The intense competition in the automotive parts industry makes it imperative for original equipment manufacturers (OEMs) to distinguish themselves on the basis of economies of technology, scale, cost of production, and quality. Technology that not just improves capital and labor productivity but also reduces the cost of production allows OEMs to gain a greater market share in the industry. OEM companies have also been increasingly focused on innovative product lines and supply chains so as to deliver a superior product at competitive pricing. Recent technologies such as 3D printing are being used to create efficient on-demand automotive parts and render a certain degree of flexibility to their supply chains.
Persistence Market Research stays ahead of the latest macro and microeconomic trends and news that impact the automotive parts industry and OEMs in particular. The expert assessment provided by our team of analysts can help clients achieve transformational growth in this expanding market.
Even though automotive aftermarket parts may not always work at the same level as original equipment in terms of quality or compatibility with the vehicle, their role in the automotive parts industry is just as crucial as that of OEMs. Fierce competition among aftermarket manufacturers has been driving down prices and increasing product choice, which can either be a veritable value addition or prove to be a confusing experience for customers. The rapid changes in product demand is another factor that has led to automotive aftermarket manufacturers offering a wider range of parts and prices. The challenge, though, is sifting through the companies that offer lower-priced products of inferior quality.
Persistence Market Research’s global team of consultants provides value-based and actionable insights on how these changes and challenges will impact future markets. Our unique combination of customized research and market expertise aids clients in their quest for profitability.
The rapidly globalizing world has been giving way to new avenues when it comes to the automotive sector and the transportation industry in particular, as it shifts focus toward electronic, electric, and hybrid cars. These more reliable, efficient, and safe modes of transportation have resulted in newer opportunities for manufacturers of automotive components. In the emerging economies, the demand for automotive components stems from improved consumer sentiment, the ongoing development in infrastructure, large domestic markets, and increased purchasing power. In developed regions, strong competition, availability of R&D facilities, substantial investments, and innovation hold the key to a profitable automotive components market.
For clients to make a mark in the global arena, it becomes crucial to understand the local development of the automotive components industry and formulate strategies that support its progress. Persistence Market Research offers sharp insights on the organized and unorganized segments of the automotive components market and helps clients devise the right trajectory.
Triggered by the accelerated rise of new technologies, changing consumer preferences, sustainability policies, and the developments in emerging markets, the automotive sector has been undergoing transformational changes.Like almost every other industry, automotive too is characterized by new business models, increasing automation, and digitization. The manufacturers of vehicles – both conventional and unconventional – are more focused on delivering superior performance, fuel efficiency and fuel economy, lighter weight vehicles, emission control, better passenger safety, and in-car technology and connectivity services.
A visible change in consumer demographics has been noted and the rise of crossovers and sports utility vehicles (SUVs) indicates that automakers are targeting young, urban explorers like never before. A significant increase in disposable income and rapid economic growth has upped the demand for luxury vehicles. Growing environmental concerns have translated to the development and adoption of hybrid as well as alternative fuel vehicles.
Identifying the new-age technologies and fully comprehending the impact they are likely to have on the global automotive sector is a task that Persistence Market Research performs with precision and thorough research.
Connected automotive infotainment is a trend that is quickly taking over the automotive sector, especially the personal car segment. This must-have feature for every automobile manufacturer performs a number of typical tasks such as utilizing navigation for driving, playing and managing audio content, receiving and sending text messages, accessing weather forecasts, sports scores, and real-time traffic conditions, making phone calls, and delivering rear-seat entertainment such as games, movies, and social networking. The ongoing technology battle between fully-embedded solutions and smartphone-based solutions has resulted in up-to-date, affordable, relevant, and rich infotainment systems with several security advantages and the availability of shared data plans.
The offerings by Persistence Market Research provide clients a fresh 360-degree perspective on the automotive infotainment market and provides practical and tactical solutions to monetize on the several opportunities that lie ahead. We at PMR identify the leaders that shape the future of automotive infotainment through technology innovation and strive to ensure our clients are one of them.
Fuel efficiency has become the principal focus of auto manufacturers around the world owing to the urgent need to cut carbon footprints, fluctuating gas prices, and the need to cut reliance on oil-rich countries. With oil reserves rapidly depleting as some of the largest oil companies drain their petroleum reserves much faster than they are replacing them, the need to cut the consumption of fuel is rather high.This is only likely to push the cost of gasoline much higher. The demand for petrol-powered vehicles has been unwavering, but the interest in the development and adoption of alternative fuels is just as promising. Alternative fuels such as hydrogen and biodiesel are a more abundant source of fuel and are also much cleaner and cheaper. Rising environmental concerns have driven consumers as well as automakers to go green, a trend that is likely to only gain momentum in the coming years.
Persistence Market Research tracks the buzz around ongoing and anticipated trends such as these to help clients envision their business of the future and attain those goals in the best possible manner.
In-Vehicle Payment Systems
The FordPass initiative by Ford for parking payments; Visa’s mobile payment concept in collaboration with Honda for fuel and parking; and Parkopedia’s partnership with several OEMs – these are just a few examples that showcase the opportunities in store forOEMs, auto manufacturers, and financial services companies in the field of in-vehicle payment systems. The introduction of in-vehicle cashless payment systems enables several applications, which include paying for parking and car washes and at tolls, drive-thru restaurants, and fuel stations. More advanced in-vehicle payment systems may also allow digital personal assistants or a natural voice interface to make payments for flights, event tickets, and car hire while driving.
Persistence Market Research identifies user requirements, understands their expectations, and offers solutions to the problems that face the in-vehicle payment systems market. Privacy and security concerns that are likely to arise with the use of such cashless payment systems are also addressed by our team of researchers and consultants to ensure successful adoption.