The automotive industry is a vital component of the United States economy. It employs over 1.7 million people and contributes about 3 to 3.5 percent of GDP. However, the auto industry is undergoing significant transformation, including electrification, autonomous vehicles, and connectivity.
With the current state of the auto industry, it is important to evaluate how technological changes can benefit the transportation ecosystem. This includes manufacturers, suppliers, and other entities in the chain.
There are several opportunities to create value. One opportunity is the implementation of technology that can improve passenger safety. For instance, predictive maintenance can alert consumers when their vehicles need service. Technology can also allow for better control over emissions.
Another advantage is the ability of autonomous vehicles to navigate, sense, and detect the environment. This will require significant resources, though.
Automotive engineers work on all aspects of the design and manufacturing process for vehicles. They are also responsible for assessing project requirements and optimizing performance. Their tasks include developing test procedures, identifying and selecting materials for each part, and planning and implementing flexible production lines.
In the United States, the automotive industry has an extensive network of interconnections. These connections include government, research, and education. To survive in today’s global marketplace, these players must be willing to collaborate.
The automotive industry can leverage existing vehicle data models to exchange valuable information across the industry. It can also benefit from work from the W3C’s Web of Things.
Although the car industry is experiencing disruption, there are many positive developments. Some examples are automated factories, ridesharing, electric mobility, and other technologies.