Innovation and disruption are not new concepts to the automotive industry. Technology driven trends are predicted to have a major impact on the future of designing, manufacturing, selling, servicing, and using vehicles.
In this digital age where consumers expect high connectivity, vehicles are becoming more like computers, and change happens rapidly, identifying ways to adopt digital transformation is a strategic priority for automotive leaders.
The modern vehicle is a complex system, with upwards of 100 million lines of software code and 150 programmable computing elements. All of which will steadily grow as evolution continues with electrification, autonomous driving, shared mobility and connected vehicle capabilities.
IDC predicts that by 2020, 25% of OEMs will be monetizing their contributions to connected vehicle data and Navigant Research expects annual revenue for connected vehicle systems to grow to $36 billion by 2025.
With petabytes of data being produced by vehicle sensors and the possibilities connected vehicles bring, it's imperative for automakers to embrace digital technologies to fully leverage this data and understand where opportunities exist to improve legacy processes, deliver on customer expectations, stay ahead of the competition and capitalize on revenue.
It's no surprise that leading automotive players are forming innovation partnerships across high tech and chemical companies, as well as academia. Maximizing these relationships along with traditional component suppliers, supply chain partners, and those involved in bringing vehicles to market is a complex challenge.
As the partner ecosystem expands and new business models form, unification is needed to simplify the complexity and remain agile as change occurs. Empowering innovation and operations partners with digital collaboration will become critical to:
To achieve this unification, technology leaders are looking to applicationplatforms that provide an orchestration layer between automobile and systems, along with a dynamic business process engine, to enable workflow, collaboration and information sharing.
With the complexities that connected vehicles and partner ecosystems present, automakers are investing in technology that helps them respond to the changing digital landscape by:
Appian invited Jeffrey Hojlo, Program Director, Product Innovation at IDC, and Jo Seidel, Automotive Industry Expert at Appian, to speak on an episode of the AppianTalks podcast series about how the automotive industry is embracing digital transformation.
Listen to the conversation as they touch on digitalizationñand how the power of a low-code application platform enables automotive leaders to overcome business challenges faster.
Specifically, tune in to learn about:
Click the play button below to listen now.
[podcast id="14183359" text="How Automotive Leaders are Embracing Digital Transformation" on Spreaker."]
For even more insight from Jeffrey Hojlo on how automotive leaders are approaching digital transformation, download the new report.
Appian is the unified platform for change. We accelerate customers’ businesses by discovering, designing, and automating their most important processes. The Appian Low-Code Platform combines the key capabilities needed to get work done faster, Process Mining + Workflow + Automation, in a unified low-code platform. Appian is open, enterprise-grade, and trusted by industry leaders.