What’s new in the automotive industry?

Digitization, increasing automation, and new business models have revolutionized other industries, and automotive will be no exception. These forces are giving rise to four disruptive technology-driven trends in the automotive sector: diverse mobility, autonomous driving, electrification, and connectivity.Click to see full answer. Just so, what is the future of the automotive industry?So, the future business model for automakers may include: manufacturing, sales and the operation of shared vehicles. About 50% of mileage driven in China, 40% of mileage driven in Europe and 36% of mileage driven in the U.S. could be covered by autonomous vehicles by 2030.Subsequently, question is, how much is the automotive industry worth 2019? The Automotive Aftermarket Network estimates the value of the aftermarket segment, which includes over 530,000 individual businesses serving light, medium, and heavy-duty vehicles, to go over $400 billion in 2019. Hereof, is the automotive industry growing? Automotive Market OverviewThe Automotive Market is anticipated to grow at a CAGR of 4.79% during the forecast period, 2019-2024. The prime factors driving the growth for the sales and demand for the passenger cars were lower interest rates and improving consumer confidence.What will the automotive industry look like in 2025?A new study predicts that over the next 15 years, the global automotive industry will undergo the greatest transformation in its history. Electric vehicles will account for about 10 percent of new vehicle sales by 2025. Hybrids will reach a 40 percent share.