A series of global trends have led to unprecedented innovation in the automotive industry. The automobile is the preeminent consumer product of the industrial revolution and is facing what may be its greatest moment of consumer change. This change is part of a digitally enabled convergence of accelerating technological, social and industry forces that is about to trigger an explosion of innovation in global transportation.
Connectivity and digitization are the most important trends which could influence the global automobile industry. Consumers want more connectivity, are focused on active safety and ease of use, and are increasingly using digital sources in making their purchase decisions. Meeting these demands is a particular challenge for an industry that throughout its existence has been focused on creating hardware products rather than delivering software solutions.
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I was driving to pick up a Friday evening meal at my favorite restaurant. Playing on the phone was a great podcast from McKinsey that spoke about emerging trends in the auto industry. As I heard intently, Asutosh Padhi and Andreas Tschiesner spoke intently about ‘ACES – Autonomous, Connectivity, Electrification and Ridesharing.' The podcast elaborated very meticulously on these four emerging trends, and the ACES framework is a nice tool...Read More