Autotech Startups and Trends Driving the Industry Foward
The last few years have heralded the advancement of Automotive technology at an incredible rate thanks to the emergence of new technologies coupled with the great competitiveness within the sector. Global leaders are also enacting new automobile policies to tackle climate change, introducing a need for new solutions.
Thus, it’s more crucial than ever for auto engineers and managers to embrace the widespread adoption of safer and more sustainable alternatives. Autotech is redefining the way car manufacturers and owners view and interact with automatives, ushing in a new era of technologically advanced cars.
Autotech trends on the horizon
The sector is incorporating new technology into its processes at an extraordinary pace.
Long-established technologies like artificial intelligence (AI) and big data & analytics complement emerging technologies like the internet of things (IoT) and blockchain in a wide range of applications for the automobile industry. Here are the most prevalent trends we are likely to see in the future for the industry.
1. Self-driving cars/ Autonomous Vehicles (AVs)
Autonomous vehicles or self-driving cars reduce the need for human drivers and appear to be on the verge of revolutionizing daily transportation. AV fleets aim to improve public transit safety by broadening the scope of last-mile deliveries and reducing downtime by minimizing accidents caused by driver weariness or carelessness. Advanced recognition technologies, like AI-enhanced computer vision, are used by AVs to detect obstructions along the road and avoid them.
2. Automobile Cybersecurity
As the name implies, this trend refers to safeguarding digital systems within a vehicle, preventing hackers from getting illegal access, and ultimately seizing control of the car. Criminals will be unable to steal data, modify, or do physical damage if they implement advanced auto cybersecurity.
In response to heightened danger levels, new automobiles will include security systems with pioneering cybersecurity technologies in the coming years.
3. Analytics & Big Data
Various considerations during the conventional vehicle’s lifespan are informed by the era of big data and sophisticated analytics. Vehicle data makes predictive maintenance possible and warns relevant parties in the event of an accident.
Furthermore, they use automotive consumer data to boost sales, improve supply chains, and improve product design for newer automobiles. Startups and developing enterprises create big data solutions to assist car manufacturers and auxiliary sectors in streamlining their operations and increasing profitability.
Several automakers are now adopting blockchain technology to share data.
The process enables mobility services and connections, such as urban transportation, ride-sharing, and delivery. You can also use blockchain to verify a company’s supply chain. According to industry analysts, blockchain will have the potential to enable autonomous vehicles. Self-driving cars might have better access to crucial traffic data using the blockchain ledger.
From tolls to maintenance and insurance, blockchain technology has the potential to ease a variety of driving-related financial processes.
5. Internet of Things (IoT)
IoT allows for safe communication between automobiles and vehicles and infrastructure components in the automotive sector. With better fleet management, the technology facilitates road safety, alleviates traffic congestion, and cuts pollution and energy consumption.
Startups and growing firms are developing advanced sensing technologies to collect more data about vehicles and allow them to comprehend their environment. Gas and toll payments are also automated, thanks to the technology.
Israeli Startups in Global Autotech Driving Seat
Thanks to hundreds of start-ups creating the newest microchips and sensors, Israel attracts manufacturers looking to reach the potentially massive automated cars market. It serves as the “starting point” for the technology required by the rapidly expanding field of autonomous cars.
One startup is a pioneer and market leader in ultra-charging (XFC) batteries, eliminating a significant obstacle to adopting Electric Vehicles (E.V): range and charging anxiety.
The startup has improved the traditional Li-ion battery by inventing and synthesizing patented organic and inorganic chemicals, making it easy to charge an EV in only five minutes, the same time it would take to fill a typical combustion engine car with gas.
This startup’s battery technology is tailored for the optimum driving experience using XFC in Li-ion batteries, and emerging innovations for high energy density, as part of its ‘100inX’ strategic roadmap (XED).
Another startup is an intelligent traffic management company founded in 2016 that uses artificial intelligence (AI), data analytics, and data fusion to create data-driven, smart traffic management systems. Navigation applications, cameras (machine vision), IoT sensors, social media, and linked cars are only some of the data sources used by the company’s technology.
This data fusion provides road network operators with real-time, precise road information, allowing them to analyze and make decisions quicker, better, and more effectively. The software’s predictive analytic features can help with future planning, strategy, and prioritization.
Another startup is a leading autotech firm that offers superior AI-based in-cabin sensor systems for interior monitoring to manufacturers, fleets, and driver monitoring. The company’s primary product uses artificial intelligence and computer vision to improve car safety and driving satisfaction.
The business products focus on the automobile in-cabin environment, and the company’s patented market-leading machine vision technology results from more than ten years of research and development. This startup is constantly pushing the limits of what intelligent sensing systems can observe and do to improve and secure mobility.
The Road Ahead for Autotech
The sector has not only grown but also evolved. The industry is becoming more mature, and more competition is expected. According to recent publications in the industry, such as INRIX Global Traffic Scorecard and McKinsey 2011 Automotive Disruption Index, the connected car is one of the most critical innovations of the decade.
Significant challenges remain, and Israel has positioned itself at the center of that space. The automotive sector will see exciting breakthroughs and trends in the next few years, such as connection and self-driving automobiles, sophisticated cybersecurity features, and telematics-based insurance rates.
The Israeli startups established in the past few years have set a standard of innovation for this industry. Israeli startups have gone from selling hardware to selling software and services, from B2C to B2B, hardware to software, and design solutions to more critical solutions. All factors considered, the future is looking bright for Autotech.
Israel’s greater focus on mobility has created a burgeoning technology sector. The emergence of startups is indicative of Israel’s strengths as a technological leader in the automotive field while also showcasing its potential to come up with new solutions to traditional problems on which it can build innovative companies.
There is certainly no shortage of opportunities in this field, and Israeli tech firms here could continue to grow in size and importance for years to come.