- Thursday | 12th January, 2023
- Tuesday | 10th January, 2023
- Tuesday | 10th January, 2023
- Saturday | 26th November, 2022
- Tuesday | 25th January, 2022
BY Seema Shukla
Covid 19 has badly affected the automobile sector however Post pandemic, Automotive is all set to get back into a growth trajectory in 2022. Now automakers making digital transformation and consumer safety, convenience, environment-friendly to their vehicles’ USP.
They are putting 4G and the internet of things (IoT) features (eco-system of connected mobility) to provide bidirectional connectivity with a range of other systems outside their local area network. They can communicate or send digital data to nearby digital devices, access Wi-Fi Hotspots, get turn-by-turn directions, warn of car health, and directly intervene to prevent breakdowns and avert accidents.
Although India’s connected car market is in the nascent stages, it is expected to grow by over 20% in the next few years. Central and several state Electric vehicles policies, the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) subsidy, and new interest from car buyers will support the growth in electric vehicles in the year 2022. In April and September, 2021 year total of 6,261 electric passenger vehicles (PVs) were sold, which shows a 234 percent year-on-year (YoY) growth. Increasing battery efficiency as well as EV charging infrastructure can speed up its adoption. Lithium-ion battery prices have fallen by 89% over the last decade, reaching a price of $137/kWh in 2020. The increasing range of EVs should also help alleviate concerns. Another advanced feature on which Indian automobiles are concentrating is ADAS (Advanced Driver Assistance Systems). Currently, the Indian ADAS market is in its infancy stage and just a small percentage of premium vehicles is fitted with ADAS features like adaptive cruise control, lane-keeping assistance, and emergency braking, which fall within the lower levels of driving autonomy classification. However, looking at the large potential and the need to reduce accident fatalities the automobile companies are trying to develop a cost-effective sensor, radar, cameras for ADAS application. Even the Ministry of Road Transport & Highways is on a way to make a few ADAS features mandatory in all vehicles.
With new technology companies entering the automotive landscape, focusing on advanced connected features, electrification, and autonomous driving. The traditional automakers are also receiving digital devices without hassle. Presently, high-end cars required around 100 million lines of code. Automakers are now collaborating with software development to start building their operating systems.
The experts estimated around USD 48.78 Billion reach in the automotive semiconductor market by 2022. The rising trend of electrified vehicles and the growing demand for advanced safety, convenience, and comfort systems are the other factors driving the growth of semiconductor content in automobiles. The three fastest-growing applications such as telematics, infotainment, powertrain, and safety have increased the demand for semiconductors in automobile markets. Indian OEMs and Tier 1 will also get affected impacting growth projections and implementing some of the above trends and cerate the Indian Automobile post-pandemic.
Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.