Driving innovation: Impact of software and technology in the automotive industry

The impact software and technology have had is not limited just to the automotive industry but have touched all nearby industries as well. From BFSI to telecom, the impact has been immense. The Automotive industry in India plays a critical role in the global economic value chain and the emerging technologies and software have brought about lasting changes in the sector.

The impacts are spread across the value streams; how we develop vehicles, how we produce them and what happens after we produce them? For the longest time software was coupled tightly to hardware, however, with developing technologies, it is not difficult to visualize vehicles in the same way as mobile phones; here’s looking at a future of software defined vehicles. The way software is the key mechanism in the functioning of mobile phones, soon enough vehicles will be following the same suit. It is not long before that software will enable and influence functionalities in vehicles that will require no visit to dealerships. Car manufacturers are South of Production driven and this will continue to becoming a Vehicle lifestyle management and will require software operation centres to be installed. This will also lead to a change in revenue models as vehicles may no longer be a single instance sale, it will be an on-going game of purchase and management.

Evolving vehicle network architectures and collaborative opportunities between software providers and OEM’s are goals for businesses that must be made tangible realities with the consumer’s best interest at heart.

An engaging conversation with Satish Sundaresan, Vice President & Managing Director, Elektrobit India and Viswanath P – Partner, Grant Thornton Bharat

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of ET Edge Insights, its management, or its members

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