The automotive landscape has undergone a revolution in technology demands in the last two decades. Today, automakers are able to integrate cutting edge silicon chips, space and energy efficient electronics, and powerful software into their vehicles. As a result, differentiation in the modern automotive industry is no longer derived from mechanical and physical design, but by the vehicle features and functionality that embedded chips, electronics, and software deliver. Indeed, analogizing today\u2019s vehicles to \u2018smartphones on wheels\u2019 has never been closer to reality.<\/p>\n\n\n\n
This fundamental shift in the automotive market, in concert with other megatrends such as vehicle electrification, is creating a new competitive landscape for automotive OEMs. Automakers must launch innovative and feature-rich products faster to capture market share earlier, or fall behind. To keep up with these aggressive demands, they must also develop new technologies faster, more cost effectively and with less budget and fewer resources. In other words, the mandate for automakers today is to \u201cdo more with less \u2013 faster\u201d. Without the ability to embrace this new level of complexity, carmakers will jeopardize their position in the automotive landscape of tomorrow.<\/p>\n\n\n\n
In sum, by beginning a digital transformation, automotive companies can accelerate their product development processes to deliver more exciting and innovative products on aggressive schedules, all while consuming fewer resources and less budget. To learn more about the details of such an approach, you can listen to our new episode of the Future Car podcast below. You can also visit https:\/\/www.sw.siemens.com\/en-US\/accelerate-product-development\/<\/a> <\/p>\n\n\n