Consumers seek startup products that enable smart car technology
Implications - As brands begin launching market-ready smart vehicles, many consumers are opting for after-market tech accessories that enable the same smart technology available in top of the line models. Such innovative vehicle add-ons are a cost-efficient way for consumers to both improve on the capabilities of the vehicle they already own and as a means of testing out the functionality of the features. In addition to highlighting the influence of the Internet of Things, this shift indicates that what is considered "fundamental" in terms of technology is continually evolving.
Workshop Question - Is there a technology function missing from your product that might simplify the consumer's life?
Trend Themes
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Aftermarket Smart Tech Accessories — Consumers are opting for after-market tech accessories that enable the same smart technology available in top of the line models, which represents an opportunity to innovate smart tech add-ons for cars that can be market-ready or upgraded.
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The Internet of Things in Automotive — The IoTA is influencing how consumers relate to their vehicles, and this represents an opportunity to create new products and services in the intersection of technology and automotives.
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AI & Machine Learning for Energy-efficient Cars — The use of AI and machine learning is a disruptive innovation that can optimize energy-management systems that are key components of plug-in hybrid electric vehicles.
Industry Implications
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Smart Tech Accessories — Startups can create smart tech add-ons for cars that can be market-ready or upgraded, which represents an opportunity for the technology and automotive industries.
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Energy Management Systems — The automotive and technology industries can disrupt the market by developing energy-management systems that use machine learning and optimized software.
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Vehicle Speech Recognition — Capio's speech recognition system has a range of applications in call centers, robotics, home automation, as well as the automotive industry, which represents an opportunity for tech startups to integrate this type of technology into their products and services.
