Trends Influencing The Automotive Industry In 2022

The automotive industry faced significant challenges in 2020 and 2021, primarily due to disruptions caused by the COVID-19 pandemic, ranging from a substantial supply crunch to slumping car sales, fluctuating oil prices to a sudden spike in delivery demand, semiconductor shortages to low inventories.

Fremont, CA: As the automotive industry undergoes major fundamental restructuring, developing new strategies and business models has become critical for companies to ensure their future prosperity and make consumers' lives more enjoyable, efficient, and safe. Here are the key trends that will influence operational and purchasing decisions in the automotive industry in 2022.

Additive Manufacturing Using 3D Printing Technologies

Companies involved in additive manufacturing have spent 2021 developing and perfecting new machines and materials to serve consumers better to capitalize on the momentum in 3D printing adoption. Advanced technology presented itself as a viable solution to pandemic-related issues like labor shortages and supply chain vulnerabilities. Automotive manufacturers are rapidly adopting technology to build more reliable, flexible, and interoperable products, as they place a greater emphasis on volume manufacturing and sustainability

More Companies are Entering the Microchip Market.

With increasingly sophisticated cars consuming more and more computing power, the automotive industry's demand for semiconductors has plummeted. The pandemic-caused shortage of semiconductors resulted in factory shutdowns and delayed car deliveries due to depleted inventories, costing the global automotive industry billions of dollars. Adoption of Connected Vehicles is Growing

With the increasing demand for autonomous vehicles and favorable government initiatives for infrastructure development, cellular vehicle-to-everything (C-V2X) technologies and the specification ecosystem is gaining traction. The technology allows vehicles to exchange critical information to avoid accidents and improve situational awareness.

Wireless EV Charging Will Boost EV Adoption

Electric vehicle technology advancements are leading to improvements in EV charging infrastructure. Although EV charging stations are convenient and efficient, the various plug standards and insufficient infrastructure can confuse many vehicle owners.

Increased Interest in Alternative Fuel Vehicles

Because of rising environmental awareness and fluctuating gas prices, there is a growing demand for alternative energy solutions that are highly sustainable. Furthermore, rising vehicle manufacturer investments and government subsidies accelerate the global adoption of alternative fuel vehicles. As a result, hydrogen, ethanol, electricity, biodiesel, natural gas, and propane are automobiles' most common alternative fuel sources.

More Self-driving Vehicles to Enter the Market

Many automakers are working on the self-driving initiative to achieve full automation (Level 4). Recent technological advancements in machine learning and artificial intelligence have enabled automakers to improve the self-driving capabilities of their vehicles. Major players are developing more sophisticated control systems.