Most of the global vehicle manufacturers have the same vision of accident-free driving with zero emissions. Only after 125 years does this vision seems technically possible. With innovation, new business models, and consumer behavior, massive changes are now transforming the entire industry.
The industry has to sustain its core business while investing in new revenue streams or providing new services to stay relevant. This balance poses the biggest challenge to all players, as speed and integration become imperatives. Leading vehicle manufacturers and suppliers are reevaluating their existing businesses and customer relationships to:
- Reimagine business models to find new revenue and profit sources by offering innovative products and services
- Reimagine business processes and use digital technology to optimize business outcomes by converging information and operational technologies
- Reimagine the role and structure of their workforce to support future business by incorporating smart glasses, 3D printers, and geospatial technologies
Download Value Creation in the Digital Automotive Network for perspective on industry transformation and how SAP contributes to the evolution of the automotive industry.