The automotive industry is in a state of flux, as a sector primarily driven by consumer needs—the stage is set for the companies to adopt emerging technologies to thwart market competition. While thriving technologies like IoT and artificial intelligence is redefining the industry—today's vehicles are connected to advance computing systems powered by leading-edge technologies such as cloud computing, big data, and the Internet of Things (IoT). Although autonomous or driverless cars are still at their infancy, rapid development in automotive R&D has made great strides in bringing it closer to reality, as a part of everyday life. Also, progress in new wireless communication technologies such as 5G, Artificial Intelligence, and machine learning are acting as a catalyst for this innovation.
With the help of high-performance semiconductor chips and the IoT boom—these innovations are paving the path for new possibilities in providing an abundance of digital data--changing the way the infotainment and in-vehicle experience is delivered. The intent from the automotive manufacturers and dealerships is to combine the power of these developments in the industry and provide customers with superior satisfaction. From the test-drive to the delivery, automobile manufacturers are focused on improving customer engagement across every touch-point. For instance, websites and apps are now supported by virtual reality and are taking the purchasing experience to the next level, enabling consumers a simulated view of the vehicle's interiors, exteriors, and functions. Telematics and predictive analytics help customers get notified and are enabling them to make proactive decisions for servicing or any issues of concern. On the other hand, fleet operators are extensively utilizing IoT sensor technology to monitor and keep track of vehicles, improve performance, ensure vehicle safety, and better fuel economy.
However, the increase in the number of IoT and artificial intelligence-based components in cars is leading to security concerns. This could probably lead to data breaches, and solution providers must earnestly seek to implement adequate security measures, allowing the industry stakeholders to remain focused on the digital revolution and core objectives. Blockchain is a potential solution that is being explored to counter the problem and eradicate the fake parts from the market. Furthermore, blockchain can enhance transparency and result in very efficient pricing strategies.
To empower the industry players to bring their revolutionary solutions and products into the real world, APAC CIO Outlook is bringing a competitive list of solution providers in the automotive technology arena. Our distinguished panel comprising of prominent CEOs, CIOs, VCs, and analysts, along with APAC CIO Outlook's editorial board has assessed several automotive technology solution providers and shortlisted the ones that are distinctively prominent in the industry.
We present to you "Top 10 Automotive Solution Providers – 2019."