The global automotive industry is undergoing unprecedented transformation.The Automotive industry has been taken by storm with the disruption caused by digital technologies. The growth and profit centers for automotive OEMs are gradually shifting to emerging markets.
In order to achieve this, organizations have to ensure that they develop their portfolio of offerings with respect to connected vehicles, Identify multi channels to connect to end-users and provide solutions that are inclusive of the new-age digital customer who is connected seamlessly to the Internet of Things.
Automotive manufacturers and suppliers need to address the key challenges including rising product complexity, strict environment and safety regulations.Today’s automotive industry is global, with few boundaries, except in terms of cost and product enhancements.
The automotive manufacturing industry continues to exceed expectations worldwide.However, several key challenges are present, including new technically advanced vehicles, demographic shifts and preferences, and hybrid models and options.
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First-generation outsourcing needs to evolve to the next generation of managed services that will encompass that are- Agile and agility, Self-help, self-heal, and automation. With these factors, the Automotive industry looks set to experience huge growth with the introduction of new digital technologies.