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YC shift: MNM research showcased that the future of the automotive industry was in data management and application software as opposed to the common focus on hardware. This made the client shift its focus towards application software and data analytics. MNM analysis also showed that most of the automotive manufacturers are under increasing pressure to successfully implement the concept of automated vehicles. This requires automation at all levels through the integration of technologies such as the Internet of Things and Artificial Intelligence. As a result, their focus is shifting more towards software integration.
Interconnections: Remote asset management, which helps in providing real-time updates on the condition of vehicles, is being extensively used and there has been a huge upsurge in the demand for remote asset management solutions. Predictive maintenance is also being adopted to streamline the maintenance schedule and reduce unscheduled maintenance costs.
Unknowns: The emotion detection and recognition market, which is valued at>USD 20 billion and growing with a CAGR of ~20% could also be a game-changer with extensive use in the identification of driver and passenger behavior, fatigue, and stress level monitoring.