The Key Emerging Technologies to Watch Out for in the Global Automotive Industry
The global automotive industry is undergoing remarkable technological transformation to provide users with more innovative and exciting experiences. With notable technological advancement, the industry is also likely to boost the revenues of vehicle manufacturers. In 2020, the market size of the global automotive industry was USD 20.3 billion. And the size of the market is projected to increase to USD 25.7 billion by 2025, growing at a CAGR of 4.8 per cent. Technological advancement, providing improved user experience, is one of the drivers of the projected market growth. So, let us examine the key aspects of the technological change: Digitalization Digitalization is the new facet of the automotive industry. Several automobile companies have already adopted digitalization to provide customers with improved vehicle buying experiences. Using Virtual Reality (VR) and Augmented Reality (AR) models, salespeople can virtually show various aspects of vehicl...