Digital Transformation in Automotive Aftermarket: Trends to Look Out for 21 June 2019 www.gatewaydigital. se Digital Transformation is a hot topic across businesses and industries today. The automotive and automotive aftermarket industries have been highly impacted by the new and disruptive technologies and trends emerging at a head-spinning rate. Driverless vehicles, Artificial Intelligence, smart transportation, etc. are some of the trends that are rapidly changing the automotive and automotive aftermarket industry. Companies that have swiftly embraced this trend are at the forefront. Although, there are many aftermarket players who can barely keep up with the technological evolution and changing customer expectations. This is because of their lack of realization for their digital capabilities. If you are one of them, the following automotive digital transformation trends can help you keep up with the transforming automotive economy. Digital Car Buying Today, customers search for cars and reviews on websites that give all pertinent car buying information at the click of a button. This has led to several transformations, such as actual car dealership stores and showrooms being transformed into VR-powered digital marketplaces, and aftermarket suppliers using social media and analytics tools to identify customer touchpoints. Following these trends, companies are likely to begin selling cars and parts online through their respective websites. Connected Factories Connected devices using IoT and other technologies are creating new opportunities for OEMs and factories. Digital trends in automotive industry have digitized, decentralized and accelerated the production, design, supply chain and delivery processes. AI and advanced algorithm-driven factories 2 Digital Transformation in Automotive Aftermarket: Trends to Look Out for WWW.GATEWAYDIGITAL.SE automate tasks such as creating, scheduling and managing workflows and have robots working that improve the efficiency and productivity of the factory. Data Protection and Security Data security is a major concern in the digital landscape. Cloud and IoT enabled systems use customer data as a driver for all the processes. Hence, manufacturers and automotive players need to constantly upgrade and be in search of advancements that keep the customer data secure and protected. Predictive Analytics and Maintenance Data analytics and telematics play a key role in helping aftermarket suppliers in forecasting demand, customer engagement, loyalty and therefore sales. Advanced analytics and predictive maintenance use data to notify the user about when the vehicle needs maintenance or replacement. This has digitized the entire service and maintenance processes of a vehicle. Autonomous Driving The collaboration between several advanced technologies will make way for autonomous vehicles and assisted driving in the near future. There will be cars driving themselves that would control all situations and conditions right from algorithms to cameras to GPS and connectivity. Autonomous vehicles and assisted driving technology will efficiently reduce accidents and save insurance costs. Gateway Digital- Your Digital Transformation Partner Adopting these trends can help you in meeting your customers’ expectations and staying afloat in the competitive market. Gateway Digital is a new age technology partner providing digital automotive solutions and helping companies in the automotive field to deliver futuristic solutions to their customers. Get in touch with us to discuss your digital transformation strategy and adopt new digital technologies to accelerate end-to-end operations and streamline processes. 3 Digital Transformation in Automotive Aftermarket: Trends to Look Out for WWW.GATEWAYDIGITAL.SE Enterprise Solutions for Digital Transformation Gateway Digital Sweden Järnvägsgatan 36 131 54 Nacka Sverige Phone : +46 733 690 899 E-mail : hello@gatewaydigital.se www.gatewaydigital.eu Confidentiality Clause: This document and any files with it are for the sole use of the intended recipient(s) and may contain confidential and privileged information. If you are not the intended recipient, please destroy all copies of the document. Any unauthorized review, use, disclosure, dissemination, forwarding, printing or copying of this document or any action taken in reliance on this document is strictly prohibited and may be unlawful. Copyright © Gateway Group 4 Digital Transformation in Automotive Aftermarket: Trends to Look Out for WWW.GATEWAYDIGITAL.SE