A comprehensive survey of automotive industry trends to look forward to in 2024 reveals information-centric technologies playing a central role in the future of the industry. The industry is adopting new technologies in its operations at an unprecedented scale. In addition to technologies such as artificial intelligence (AI) and big data & analytics that have been around for a while, newer technologies such as the internet of things (IoT) and blockchain also find numerous applications in automotive. This article was published in April 2020 and updated in August 2023.
Top 10 Automotive Industry Trends
Innovation Map outlines Top 10 Automotive Trends & 20 Promising Startups
For this in-depth research on the Top Automotive Industry Trends and startups, we analyzed a sample of 4859 global startups & scaleups. This data-driven research provides innovation intelligence that helps you improve strategic decision-making by giving you an overview of emerging technologies in the automotive industry. In the Automotive Innovation Map below, you get a comprehensive overview of the innovation trends & startups that impact your company.
These insights are derived by working with our Big Data & Artificial Intelligence-powered StartUs Insights Discovery Platform, covering 3 790 000+ startups & scaleups globally. As the world’s largest resource for data on emerging companies, the SaaS platform enables you to identify relevant technologies and industry trends quickly & exhaustively.
Tree Map reveals the Impact of the Top 10 Automotive Industry Trends
The Tree Map below illustrates the top 10 automotive industry trends that will impact companies in 2024. Emerging companies are working to build the first fully autonomous vehicle for city roads, which in turn accelerates the advancements in-vehicle connectivity and IoT.
Further, as countries look to move away from fossil fuel use, a significant number of emerging electrification startups develop electric vehicles and the associated charging infrastructure. Another way to reduce the number of cars on the road involves promoting and creating shared mobility solutions that include first and last-mile connectivity along with urban mass transit.
Global Startup Heat Map covers 4859 Automotive Startups & Scaleups
The Global Startup Heat Map below highlights the global distribution of the 4800+ exemplary startups & scaleups that we analyzed for this research. Created through the StartUs Insights Discovery Platform, the Heat Map reveals high startup activity in the US, Europe, and India.
Below, you get to meet 20 out of these 4859 promising startups & scaleups as well as the solutions they develop. These 20 automotive companies are hand-picked based on criteria such as founding year, location, funding raised & more. Depending on your specific needs, your top picks might look entirely different.
Top 10 Automotive Industry Trends & Innovations in 2024
1. Autonomous Vehicles (AVs)
Self-driving or autonomous vehicles minimize the need for human drivers and look poised to transform everyday transportation. Fleets of AVs expand the scope of last-mile deliveries, reduce downtime, and aim to make public transportation relatively safer. For example, by reducing accidents caused due to driver fatigue or negligence. AVs are equipped with advanced recognition technologies, such as AI-enhanced computer vision to identify obstacles along the route.
FlxTran develops Autonomous Vehicles for Unused Railway Tracks
US-based startup FlxTran develops a new transportation system using self-driving vehicles on abandoned railroad tracks to provide fast regional transport to connect smaller communities. The system uses an app to schedule rides on autonomous vehicles, cutting down trip times compared to the available commuting options. FlxTran’s approach improves connectivity and access to opportunities beyond major cities.
Udelv builds Autonomous Vehicles for Las Mile Delivery
The US-based startup Udelv provides autonomous vehicles for last-mile deliveries. It combines advanced AI algorithms and hyper-speed teleoperations for human-assisted guidance in unique situations. The startup’s vans have a payload capacity of approx. 360 kg (800+ lbs) and reach speeds up to approx 100 km/h (60 mi/h). The vans deliver groceries from nearby stores and send out a push notification when the order arrives.
2. Vehicle Connectivity
Nowadays, vehicles come with a tamper-proof digital identity that differentiates them from other vehicles in the network. This enables easy tracking of vehicular data for various use cases such as insurance, driver safety, predictive maintenance, and fleet management. Sharing vehicular data helps not just the individual customer, but overhauls the entire mobility ecosystem.
Startups and scaleups develop vehicle connectivity solutions that enable them to connect and exchange data with other vehicles (V2V), an electric vehicle grid (V2G), public infrastructure (V2I), as well as with new and emerging ways to utilize vehicle data (V2X).
V2ROADS caters to On-board and Road-side Units to enable V2X Connectivity
Hungarian startup V2ROADS offers a range of products and services tailored to the V2X ecosystem. They provide V2X applications, services, and communication stacks specifically designed for on-board units (OBUs) and road-side units (RSUs). Further, its V2X-cloud system implementation guarantees uninterrupted connectivity between vehicles and infrastructure. Finally, its V2AP (V2X Integration Platform) is a server-side software to amplify V2X services to elevate road safety and efficiency.
NoTraffic facilitates Digital Road Infrastructure Management
Israeli startup NoTraffic develops an AI-powered traffic signal platform that digitizes road infrastructure management and connects drivers to the city roadways to manage various traffic-related challenges. The data of all road users is streamed and processed in real-time to empower smart mobility. The solution also serves as the base for additional services such as micropayments and micro-mobility.
The depleting fossil fuel reserves and the harm to the environment caused by their use call for promoting the use of electric mobility solutions. For greater adoption, EVs need to address issues such as high price, poor battery, inadequate charging infrastructure, fleet electrification, as well as powering renewable energy-based charging grids. These challenges, along with the need to tackle increasing greenhouse gas emissions across the world, startups are working on electrification solutions.
Lordstown Motors builds an Electric Pick-up Truck
The US-based Startup Lordstown Motors Corps makes an all-electric pickup truck. The truck, EnduranceTM, is designed to be a sturdy work vehicle and comes with fewer moving parts compared to traditional commercial vehicles, thus enabling easier maintenance. It features 4 hub electric motors to provide four-wheel drive and is capable of traveling more than 250 miles (400 km) on a single charge.
ChargeX specializes in Modular Electric Vehicle Charging Solutions
German startup ChargeX offers a modular EV charging solution that converts parking spaces into charging stations. The startup’s platform, Aqueduct, is easy to install, has 4 charging modules with up to 22kW, provides monthly reports, and uses a Typ2 charging cable. The solution recognizes the power requirements of every car and automatically controls the charging speed for each vehicle.
4. Shared Mobility
With connected vehicles, new business models have come up that focus on shared mobility as an alternative to traditional vehicle ownership. This enables mobility-as-a-service (MaaS) and discourages unused vehicles. Such solutions meet the requirements of a city or a business without adding new vehicles, thus reducing waiting time for fleets and pollution caused by petrol or diesel vehicles.
Launch Mobility combines Shared Mobility Solutions in a Single Platform
The US-based startup Launch Mobility develops a platform for a range of shared mobility solutions. The platform LM Mission ControlTM offers free-floating or station-based car sharing, advanced shuttle services, shared dockless scooters, keyless rental programs, and peer-to-peer shared mobility. The LM Mission Control dashboard allows business users to manage their fleets. Further, their drivers use out-of-the-box or white-labeled apps to manage reservations or remotely access vehicles.
Beam develops Electric Scooters for Urban Mobility
Singapore-based startup Beam focuses on e-scooters to promote shared mobility in the Asia-Pacific region. Their scooters use an aviation-grade aluminum frame and are customized for sharing, safety, reliability, and durability. Users discover the nearest Beam scooter on the app and park it in visible public spots after the ride. Further, the micro-mobility platform offers a sustainable alternative to short-distance rides and helps regulate traffic flow in cities.
5. Artificial Intelligence
Artificial intelligence technologies such as machine learning, deep learning, and computer vision find applications in robotic automation within the automotive industry. These guide self-driving cars, manage fleets, assist drivers to improve safety, and improve services such as vehicle inspection or insurance. AI also finds applications in automotive manufacturing, where it accelerates the rate of production and reduces costs.
RevitsOne provides AI-based Fleet Management Solutions
Indian startup RevitsOne offers AI-powered fleet-management software that is suitable for fleets of varying sizes. The startup’s vehicle management system provides insights into speed, running vitals, and health information. Drivers benefit from Voicera ID, a voice-based virtual assistant that helps them keep track of the information they need. Additionally, the onboard speed recorder limits the speed to discourage dangerous driving behaviors.
Apex AI offers an Integrated Automotive Data Management Platform
The US-based startup Apex AI enables automotive companies to implement complex AI solutions. Apex.OS runs on automotive electronic control units (ECUs) and offers robust, reliable, and secure APIs to develop autonomous mobility solutions. ApexAutonomy offers modules to build 3D perception, localization, and control to enable autonomous vehicles. Lastly, MARV.Automotive is a configurable and extensible data management platform that reliably transmits data from the vehicle to the cloud.
6. Big Data & Analytics
The age of big data and advanced analytics informs various decisions throughout the lifecycle of a vehicle. Data gathered from vehicles enables predictive maintenance, informs managers about their fleets, and alerts concerned authorities in case of accidents. Moreover, customer automotive data finds applications in driving sales, optimizing supply chains, and enhancing product design for newer vehicles. Startups and emerging companies develop big data solutions to help automotive manufacturers, as well as ancillary industries, streamline their operations to maximize their margins.
Procon Analytics delivers Automotive Finance Solutions
The US-based startup Procon Analytics leverages big data to offer a solution for automotive finance. The solution captures millions of data points in real-time and analyzes them to enable lenders to instantly assess and reduce risk. This allows Buy Here Pay Here (BHPH) dealers to expand their businesses and extend credit to high-risk customers. Further, this also offers software solutions for fleet and asset tracking as well as connected cars.
Drive-Tech AI accelerates Vehicle Testing Analysis
India-based startup DriveTech-AI builds solutions centered around optimizing the vehicle testing process through smart solutions. Its suite of platforms and solutions allows automotive OEMs to accelerate testing data analysis and enhance automation and team collaboration. For example, its StellarAi data intelligence platform offers templates to quickly identify engineering variables, trends, and vulnerabilities.
Further, its Craidlr ATX-G gateways are integral to the surface temperature & vibration monitoring solution, catering to diverse automotive testing needs. These gateways, combined with advanced transducers, facilitate real-time data collection.
7. Human-Machine Interfaces (HMI)
As self-driving cars and connected cars transform the automotive landscape, it will fundamentally change how drivers interact with vehicles. Human-machine interfaces use voice-based or haptic feedback to operate vehicles. These expand the scope of how and what aspects of a car that users control. Consequently, such interfaces make the driving experience safer and more enjoyable. Another form of HMI includes smart virtual assistants who help drivers and riders interact with the vehicles and other service providers.
Awayr creates Advanced HMI Solutions for Connected Cars & Autonomous Vehicles
The US-based startup Awayr develops human-machine interfaces for vehicles, unmanned aerial vehicles (UAVs), and robots. The startup works with automotive original equipment manufacturers (OEMs) to decrease HMI development cycle time and enhance the safety of interfaces. Awayr also builds solutions to manage driver attention in unconventional situations, such as autonomous vehicles that may occasionally need human intervention.
Apostera specializes in Advanced Driver Assistance Systems (ADAS)
German startup Apostera offers an advanced driver-assistance system (ADAS). The startup’s platform combines augmented reality (AR), smart camera, and surround-view monitoring to illuminate the route on turns, curves, slopes as well as complex junctions. This assists the drivers in keeping lanes, prevents collisions, and enables autonomous driving options. Moreover, the solution is customizable to any car model or specific OEM requirements.
Blockchain enables multiple applications in the automotive industry. These include sharing vehicle data over a secure network for connectivity and shared mobility solutions such as ride-hailing, urban transportation, and deliveries. Moreover, blockchain finds application in verifying the supply chain of spare parts or making sure that the raw materials and spare parts are sourced exclusively from legal and trusted sources.
Cube Intelligence builds Blockchains for Autonomous Vehicles
British startup Cube Intelligence develops a blockchain-based security platform for autonomous vehicles. The startup’s technology utilizes hash codes to block malicious attacks or hacking attempts on autonomous cars and connected cars. The hardware used gathers real-time data on mobility and emissions. Additionally, Cube Intelligence offers ride-hailing and valet parking services for AVs, as well as smart parking management systems.
DAV offers a Decentralized Autonomous Vehicle Platform
Israeli startup DAV offers a decentralized autonomous vehicles platform based on blockchain technology. The platform allows autonomous vehicles to discover AVs, service providers, or clients around them. The vehicle-to-vehicle (V2V) communication is either on-blockchain, with smart contracts or off-blockchain using DAV’s protocols. The startup develops protocols for drone charging networks, drone flight planning, and open mobility.
9. 3D Printing
3D printing helps the automotive industry in three primary ways. Firstly, it enables rapid prototyping with 3D printed models that accelerate the design and testing phases of production. Secondly, it allows manufacturers to print spare parts to match their requirements. Lastly, additive manufacturing of composite materials leads to automotive parts that are lighter, stronger, and more durable.
Distributed Additive Manufacturing enables Sustainable Large-scale 3D Printing
UK-based startup Distributed Additive Manufacturing (DAM) offers 3D printing services including design, building, and finishing of parts. It offers more sustainable 3D printing by developing its own large-scale printing hardware and using fully recycled composite materials. DAM can print parts as large as 1000x3000x1000mm using engineering-grade recycled plastics. In addition to prototyping, DAM provides full-scale manufacturing services too.
Moi manufactures 3D Printed Automotive Parts
Italian startup Moi combines thermosetting composite materials and 3D printing to manufacture high-performance parts for the automotive industry. Moi uses continuous fiber manufacturing (CFM) technology, robotic intelligence, and digital fabrication to deposit fibers. As a result, the solution is easily scalable for producing composites for panels, frames, and interior components. The startup also serves other industries, such as aerospace, construction, and biomedical.
10. Internet of Things
In the automotive industry, IoT enables secure communication between vehicles as well as vehicles and infrastructure components. The technology improves road safety, solves traffic congestion, and reduces pollution and energy expenditure with better fleet management. Startups and emerging companies develop advanced sensing technologies to gather more data about the vehicle as well as allow the vehicle to understand its surroundings. The technology also automates payments for fuel and tolls.
EcoG builds an Electric Vehicle Charging Platform
Operating from Germany and the US, EcoG is a startup offering an IoT-based operating system and platform for EV charging. The startup provides manufacturers with tools that make the development and maintenance of EV charging infrastructure simple, fast, and scalable. It also allows operators to integrate services and microservices in the chargers to make the charging process profitable. In addition, the solution works with any EV charger and enables new features to be shipped throughout the network.
KonnectShift develops IoT-based Fleet Optimization Solutions
Canadian startup KonnectShift provides IoT solutions to optimize fleet and asset management. The startup develops Konnect – GS01, an automatic electronic logging device (ELD) to continuously track vehicular health. The solution includes route planning and optimization for real-time dispatch, advanced analytics to enable alerts regarding driving, vehicles, and fuel, predictive maintenance alerts to reduce downtime, as well as the development of driver management apps.
Discover all Automotive Technologies & Startups
Additive manufacturing near production sites, AI-based automated inspections, the use of big data to inform design and production, and human-machine interfaces are reinventing the manufacturing processes for automotive players. The push for electric cars and driverless cars is strengthened by advancements in machine learning and IoT.
The trends in the automotive industry and startups outlined in this report only scratch the surface of automotive trends that we identified during our in-depth research. Identifying new opportunities and emerging technologies to implement into your business early on goes a long way in gaining a competitive advantage. Get in touch to easily and exhaustively scout relevant technologies & startups that matter to you.