The following is an excerpt from Stefan Issing | January 21, 2018 | BBC.com |
New data-driven services, strong light-weight materials and a rapidly built out infrastructure for EVs (Electric Vehicles) are trends impacting the automotive industry throughout 2018.
Stefan Issing, the Global Industry Director for Automotive at IFS, presents his industry predictions for the year ahead.
1) Service revenue in Automotive will increase by 30 percent during 2018
When German car manufacturers Opel first launched in 1863 they made sewing machines, switching to cars in 1899. Peugeot milled corn and then steel for eighty years before turning their hand to cars in 1891. So although it’s sometimes seen as conservative, the auto industry has change woven deep into its DNA. Today’s automotive leaders need to show the same resilience, agility and adaptability so as not to fall behind when their competitors invest in new digitally-driven services.
Take the Schaeffler Group, one of the world’s largest suppliers of bearings, clutches, torque converters and transmission systems to the automotive industry. In 2016 it sold automotive parts worth US $10.88 billion and announced a new digital strategy for its automotive operations. In October 2017 Schaeffler acquired autinity systems GmbH, a German IT company specializing in digital condition monitoring and machine data recording.
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