Forbes India: Cognizant’s Chief Digital Officer of Manufacturing, Logistics, Energy & Utilities Discusses Customer Trends in the Automotive Industry

“With increasingly autonomous capabilities and a declining interest in ownership, customer preferences are shifting to new horizons,” writes Prasad Satyavolu. “The players in automotive industry should focus on creating experiences for customers during transit, redesign vehicles to fit evolving purposes, and most importantly, transition to a hybrid business model that is both based on services and primary purchases.” Excerpts:

“The future of transportation is evolving to a completely different level. In the coming years, the changes in consumer preferences, environmental conditions and experience driven segmentation will reshape the automotive industry. An automobile is already a connected device on wheels and is on a path to increased intelligence for driving functions.

There are the two major shifts that will define the automotive landscape in 2025.

The first shift is the inevitable and phased embrace of autonomous vehicles, which will lead to a wide range of in-transit innovation aligned with the latest technology.

The second defining shift in the industry is the spread of the sharing economy, which will soon usher in ‘purpose-built vehicles’ and subscription models, moving away from passive ownership of cars.”

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