Globalisation and economic uncertainties expose the Automotive industry to new and changing risks, including supply chain, manpower and economic risks.
Automotive owners today demand technology solutions that enable greater transparency into their operations, anticipation in maintenance, budget predictability and reliability.
Increasing regulation also forces Original Equipment Manufacturers (OEMs) to offer cleaner and safer vehicles while driving car owners to change buying behavior, especially in developed markets. Demand stagnation results in OEMs expanding their geographic footprint and reviewing operational efficiency. Other challenges include reinventing product portfolio to create local products and brands, offer customized value added services to improve retention and diversify revenue source. Tier 1 & 2 suppliers are also obliged to offer innovation and operation flexibility for OEMs while simultaneously expanding aftermarket offerings.