siliconindia | | December 20198ndian automotive sector ranks 4th highest in the world and is growing at a rate of 9.5 percent per year, as per the IBEF survey. Government-spon-sored initiatives like `Make In India' have ush-ered the growth further wherein, the automotive industry has received a cumulative FDI of US$21.38 billion since 2000, as per data by Department for Promotion of In-dustry and Internal Trade (DPIIT). Further, the Indian component makers are gearing up to embrace R&D and push investment into technology to emerge as a global hub of innovation. With increased dispersion of technology, consumer demand and high industry competition, the gestation period of introducing innovative concepts in the automotive industry is reducing. In every sphere, innovation and IoT-enabled technologies are driving a sig-nificant shift. They are becoming one of the critical drivers for future economic growth. Meanwhile, auto-innovations are paving the way for further disruption in the existing apparatus. New aspects such as - vehicle diagnostics, fleet man-agement, vehicle charging, application integration, automotive cybersecurity, sensors hardware, and tele-matics are being hailed as next game-changers in the automotive industry. From vehicles communicating to their owners via mobile devices to analyzing the fuel efficiency via the car dashboard, the automotive industry will see some significant overhauls. Some forthcoming changes which can be seen are -1. AI and ML: Moving towards the future, Artificial Intelligence (AI) and Machine Learning (ML) will influence every part of our life, including our vehicles. AI will turn the vehicle's internal electronic systems, engine status, and temperature system into a connected alarm mechanism. And, will provide filtered information to vehicle owners, who will be able to gauge vehicular efficiency and fix issues beforehand.2. Infotainment Application and Interface: Internet giants like Google have geared up to provide infotainment services for vehicles via smart apps, built to integrate with the vehicle's software system. Applications like Google Maps, Play Store, and Google assistant are among the front runners for integration into commercial vehicles.3. Safety and Security: The use of sensors has already undergone a drastic change and will continue to a higher value. For instance, external or proximity sensors have By Ajay Gulati, Head - Sales & Marketing, Electro Rent IndiaElectro Rent has over 50 years of experience in advising customers on their best acquisition approach, by providing rent, purchase, and leasing options to best fit their needs. With the merger of Microlease and Electro Rent's business operations, they have become the largest and most comprehensive test equipment service provider for market-leading customers around the world.DISRUPTION APPROACHING: FIVE TRENDS TO WATCH FOR IN INDIAN AUTOMOTIVE INDUSTRYIN MY OPINIONIAjay Gulati, Head - Sales & Marketing
< Page 7 | Page 9 >