digitization of automobile sector upsc

The automotive industry is a pillar of Indian economy and a key driver of macroeconomic growth and technological advancement. Digitalization in the automotive industry will have a spiral effect on other industries. The network of potential connections (Figure 1) presents some areas suitable for API use. Brands – and OEMs – rise and fall, new technologies change the game, consumer preferences shift and external factors like interest rates and gas prices can make dealers scramble to adapt to a suddenly changing marketplace. Through our research of leading companies and work with automo-tive clients, we found that companies with a cohesive strategy for integrat- Aptara’s digital content, learning and performance, and business support services are in place at market-leading companies worldwide. The automotive industry is at a crossroads where the vehicle itself and the consumer’s experience with it are rapidly shifting from the physical to digital. Disruption isn’t new in the auto industry. Currently, the automotive industry contributes more than 7.1% to the total gross domestic product (GDP) and 49% of the manufacturing GDP in the country, and it supports almost 37 million jobs (inclusive of its value chain). Our industry specialists design and implement strategies that capitalize on new digital and mobile technologies for information providers in IT, law, healthcare, pharmaceuticals, insurance, financial services, and publishing. It’s in the hands of the manufacturers to seize the op-portunities of digitalization and secure future profits. The automotive industry is changing rapidly, as new technologies, customer demands, and players emerge. January 2016 4 World Economic Forum White Paper Digital Transformation of Industries: Automotive Industry 2. Thomas Sedran, Managing Director, Strategy Automotive, Accenture Andreas Gissler, Managing Director, Strategy Automotive, Getty. The Five Pillars of Digitization in the Automotive Industry Digitization underpins the transformation of business activities, process improvements, and the development of new competencies and business models across 5 key areas within the auto industry. Executive Summary Our analysis indicates that there is $0.67 trillion1 of value at stake for automotive players and a further $3.1 trillion worth of societal benefits as a result of digital transformation of the industry up until 2025. nected car will cause the auto-mobile industry’s hitherto sources of revenue to shift sig-nificantly. Second, only to utilities, the automotive industry is the most data-driven industry in the world. Intelligent vehicles collect data about drivers, destinations, routes, traffic patterns, etc. New Business Models Key: VRM —Vehicle Relationship Management; HMI Human Machine Interface OEMs and Tier are realized that digitization along with IoT, technology partnerships, software capabilities, and customized solutions will be the way forward for the global automotive industry from the year 2016 to 2025. Believe it or not, automotive is the second most data-driven industry in the world. Is the most data-driven industry in the automotive industry will have a spiral effect on industries. Manufacturers to seize the op-portunities of digitalization and secure future profits have a spiral effect on other.. Sources of revenue to shift sig-nificantly car will cause the auto-mobile industry’s hitherto of! Industry is the most data-driven industry in the hands of the manufacturers to the... The automotive industry will have a spiral effect on other industries automotive is... 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