The automobile sector has been rapidly evolving, with new companies stepping in to offer better and more affordable vehicles than their traditional counterparts. From self-driving cars that let you sleep on the way to work to electric cars that reduce emissions and help lower your monthly fuel bills, automobiles are transforming in both big and small ways to improve transportation options around the world. For those who are interested in investing in the future of automobiles, here are 10 reasons why you should do so today!
1) Transportation will move from personal cars to shared vehicles
If you own a car, you’re not only responsible for paying for that car’s upkeep and fuel, but also keeping it safe from all those other drivers out there who don’t care about damaging your vehicle. Since shared vehicles (think Uber) will become more popular, you’ll no longer need to worry about running into reckless drivers—or protecting your investment. You can simply hop on a smartphone app whenever you need a ride.
2) Electric cars will win the day
In a world of uncertainty, one thing is certain: The future is electric. Lithium-ion batteries have already revolutionized mobile electronics, and now they’re poised to do likewise for automobiles. Consider how much electricity powers our lives—even after accounting for solar power and other forms of renewable energy generation. It’s easy to envision how lithium-ion batteries will further proliferate across society as prices come down and charging infrastructure expands.
3) Autonomous car tech will be integrated into modern transportation systems
The roadways will become safer with automated cars that don’t make mistakes. Accidents are caused by human error, so eliminating them will mean far fewer people are killed on our roads. The roads themselves will be able to handle more vehicles since we won’t need as many lanes for humans.
4) The Chinese market will grow exponentially
China is one of world’s largest markets for automobiles. In 2010, there were more than 15 million new vehicles sold in China. By 2020, there will be more than 26 million vehicles sold each year. That is an additional $124 billion dollars worth of business that you can tap into by creating a product or service specifically designed for Chinese consumers. To remain competitive and reap these benefits, it’s vital that you fully understand how your business can thrive while operating within China’s markets and culture.
5) The world will adopt ride sharing apps
By 2030, more than 60% of all automobiles will run on electricity instead of gasoline, and they’ll be fully autonomous. The world has changed dramatically since we first starting using cars; ride sharing and e-commerce will significantly change how we interact with each other through transportation.
6) Cars are getting safer and more efficient
In just a few years, cars will be able to speak with one another and travel on autopilot. Just recently, Apple bought a company that develops software for self-driving cars. As driverless cars become a reality, it will have an immense impact on our lives. Imagine never worrying about finding parking again!
7) Digital-driven logistics companies will make car sales irrelevant
There’s a major shift underway, thanks to improved technology. The majority of car purchases will be made online within a decade; they’ll even be delivered to your door. Eventually, you won’t need physical stores at all. This will change everything—including sales and service, which is why investing in car manufacturers right now isn’t such a great idea. Instead, you should consider companies that are providing digital-driven logistics solutions for delivering cars directly from manufacturers and dealerships.
8) Insurance providers won’t cover human drivers anymore
In a world where self-driving cars are safer than human drivers, insurance providers will no longer need to cover human error. If a car drives into your house or runs you over and there’s no driver inside, it could save companies tons of money. Self-driving cars will actually reduce accidents by 90%, so they should be allowed on public roads without a licensed driver.
9) Soon, most roads will be dedicated to self-driving cars only
The future looks bright for autonomous vehicles, and it’s clear that self-driving cars will be taking over most streets within 10 years. In fact, some predict that by 2030 we won’t be allowed to drive manually on public roads at all. While many are skeptical about whether these predictions are too good to be true, one thing is certain: Self-driving cars will soon be a common sight on our roadways.
10) The green movement is here, so are electric cars!
While we may not live in a world where everyone is driving an electric car, what once seemed like a far-off dream has come one step closer to reality. Major automobile companies and smaller start-ups alike are developing electric vehicles (EVs) that can keep up with gas-powered cars when it comes to performance and distance per charge. When you factor in that these EVs have no emissions or hazardous engine fluids, they become much more appealing.
There are many reasons to invest in the future of automobiles and these will be key in driving the industry forward for years to come. Automobile companies that adapt and innovate quickly will flourish as advances in technology continue to advance at a rapid pace. The coming years will be exciting times for automakers and their investors, with considerable potential for high profits. Those who follow the cutting edge of technology, development and improvements in automobile infrastructure stand to make considerable profit.