The automobile, which can be considered one of the preeminent consumer products of the Industrial Revolution, is facing its greatest moment of change ever! This change is being driven by Automated Driving Technologies (ADT), consumer preferences, industry pressures, government influence, and regulations. This digitalization of the automobile is one of the most important developments in the world today.
If ever there was a product ripe for disruption, it is the automobile. This scenario is a nightmare for many traditional car manufacturers and is the reason why many tech companies can’t wait to get a piece of the multi-trillion (yes, with a “T”) dollar global automotive industry.
As the vehicle becomes another computing and connected device on the network, the future business model for the automobile will be a software and services model. In other words, we’re moving toward the “computer on wheels”.