The main purpose of this event was to promote collaboration between companies and accelerate the development of new mobility. During this fair, it was highlighted the role of connectivity as key factor both for the present and the future of automobile industry. As automotive industry need to adapt to new emerging business models, established players are constantly looking for innovative business start-ups to partner and develop solutions to contemporary problems. Cooperation and open innovation models related to the connected vehicle ecosystem powered by IoT attracts stakeholders from different sectors to reframe their current definition of innovation and discover groundbreaking ideas by creating new ventures.

 

During our speech, we conveyed the following key points to the audience:

  • Light Electric Vehicles are the most important vehicle segment of 21st century. Bike production has been doubled compared to car production over the last 50 years
  • Connectivity facilitates to the creation of new relationship between manufacturer and customer. Hence, instead of one time sales there is a lifelong connection between end user and the OEM.
  • COMODULE offers full connectivity ecosystem composed from Hardware, Web Platform and Mobile Application, enabling both sides to be in constant communication.
  • At the same time, connectivity helps to the development of new business models, such as leasing, sharing & insurances.
  • COMODULE’s fleet management system empowers operators to launch their sharing fleet of vehicles and provide safety & security to their users
  • Data management & analytics will affect the product development of future vehicles.
  • COMODULE’s diagnostic & maintenance platform, supports OEMs & Suppliers to create better products & services for their customers

Main learning points taken from the fair:

  • A recent study from McKinsey highlighted the impact of digital technology on automotive sector and argued that 25% of buyers prioritize connectivity over features such as engine power and fuel efficiency
  • Automotive Industry is looking beyond the 4 wheel vehicles, focusing also in 2 & 3-wheel transportation, acknowledging the fact the Light Electric Vehicles are the solution to traffic congestion & environmental protection.
  • New collaborative consumption ventures are becoming popular
  • Sharing economy is gradually becoming an integral part of our life, and as time goes by it will become even more significant
  • Internet of Things facilitated the ability of people to find things that they once had to buy or rent or lease for days or years at a time. New generations prefer to invest their money to other activities, such as travelling or education, instead of buying a new property. This signifies the rise of a new era of post-ownership economy
  • Only those stakeholders who will adapt quickly to this volatile and rapidly changing environment, will be able to continue creating value for their customers.
  • The role of connectivity is emphasized by several leading companies: Deloitte supports that connectivity will be the driving force of the automobile industry, whereas KPMG stated in a survey during 2016 that connectivity & digitalization will be the key trend in the auto industry until 2025.