Megatrends driving the automotive industry

Change is occurring at an astounding pace

Recently, PwC identified five global mega trends that have potential implications on business now and in the future. We’ve expanded on these key trends for the automotive industry that are interconnected in many ways. These forward-thinking themes are shaping the future of the automotive industry. Learn more about these strategic issues important for your organizations.

Demographic shifts

In combination with the migration of global spending power to emerging economies, the coming decade will also see explosive population growth in some countries and declines in others. These diverging trends will have far-reaching impacts, ranging from growing pressure on the supply of critical resources to sweeping changes in people’s goals and aspirations at a personal and social level.

Shifts in economic power

In the past few years, the global balance of economic power has been shifting from developed to developing countries. As this trend continues, it will have an increasing impact on where growth opportunities arise for companies – and on where they invest to capitalise on those opportunities.

Accelerating urbanization

Today, almost half of the world’s population lives in cities. But look back just 60 years to the largely rural world of the 1950s, and only 30% of people were urban dwellers. However, the rapid urbanisation seen in recent decades is just the start of a steepening growth curve. By 2030, the proportion of people living in cities will have surged to 60%.

Climate change and resource scarcity

Current estimates suggest that world carbon emissions from burning fossil fuels – coal, oil and gas – will rise by 16% between now and 2030. Over the same period, the average global temperature will increase by between 0.5°C and 1.5°C – that’s on top of a 0.5°C rise already seen over the past 20 years.

Technological breakthroughs

Every hour of every day, breakthroughs in frontiers of research and development ranging from nanotechnology to robotics are opening up new opportunities for businesses and individuals. Across these areas and more, a perpetual flow of ideas and innovation is creating ever more powerful enabling technologies, whose potential uses are limited only by the human imagination.

 

Successful companies will be the ones who can adapt to these trends and discover how to treat them as opportunities. View our most recent thought leadership to learn more.