Visiongain forecasts that between 2020 to 2030, the automotive industry will change drastically owing to the introduction of new technologies such as vehicle telematics, artificial intelligence, connected cars and autonomous vehicles.

Automakers are responding to customer demand and are developing more EV models, including both plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs), that are increasingly cost-competitive with internal combustion engines. In addition, customers are purchasing EVs in record numbers, and electric companies are working with stakeholders to move the EV infrastructure market forward.

Rising demand for fuel-efficient vehicles and increasing production of lightweight automobile components are the factors anticipated to prompt manufacturers to opt for backward integration in the value chain.

The truck industry is entering a new era: while sales and profits are still produced mainly in from the diesel truck, emerging innovations are increasingly impacting the strategies of OEMs products & investments.

The automotive software market is about to enter a period of phenomenal growth and innovation. The next ten years will see the upsurge demand of automotive software.