As far as the global car business is concerned it can be expected that in 2023 IoT (Internet of Things) and AI (Artificial Intelligence) would bring about some major transformation. It is not that this has not happened so far but the trend will only intensify from now on.
In fact, as far as device and vehicle connectivity is concerned the amount of transformation that would happen because of these technologies would be unprecedented for sure. The same is also applicable for other related areas such as autonomous driving, shared mobility, and electric power trains. In fact, it is highly possible that now your car would become your office of sorts.
China would take a tumble
As far as the car business is concerned this is a major development for sure. In the past 10 years, the automobile industry of China has only grown but now it has taken a tumble of sorts. In fact, in 2018 the market for passenger cars declined.
It also does not help that the economy is slowing down over there and more people these days are sharing their vehicles. Public transportation has also become a lot more popular than what it was earlier. The market for SUVs (Sports Utility Vehicles) has become saturated as well.
Growth of ride-hailing IPOs
With respect to the world car business, it can be said that companies that are in the business of ride-hailing would come out with huge IPOs (Initial Public Offerings). In fact, experts have gone so far as to say that you can expect some mega blockbuster developments in this particular regard. Some of the most prominent names in this regard are Uber, DiDi, and Lyft. It is expected that their shares would be more expensive than car companies that have been in the business for more than 75 years now.
Multimodal future of mobility
In the context of the world car business, it can be said that the future of mobility is going to be multimodal. Phenomena like data analytics and Big Data are going to play a major role in this particular context as would public-private partnerships. They are going to be the driving forces behind multimodal mobility solutions that are expected to be resource efficient, on demand, and flexible as well. New policy initiatives are expected to be taken in this regard as well with the emphasis being on promoting sustainable and streamlined urban transportation.
The news from https://www.randomstuffido.com In 2023 the global automobile industry will become a connected environment where features would be provided on demand. In fact, it is a lot closer than we can imagine right now. Cars these days are becoming connected with the likes of power trains, advanced driver assistance systems, connected services, and smart interiors. This connection is external as well as internal. New business models are coming to the fore as well. You have the freemium services where these connected features are being offered on a demo basis. It may be that they are charged on a one/off basis.