Transforming Vehicle Safety and Connectivity: The Automaker’s Imperative to Change
How Changing Consumer Preferences Unveil Innovative Growth Opportunities
The traditional automotives ecosystem is rapidly evolving from a pyramidal structure to a flatter one as Connected, Autonomous, Shared, and Electric (CASE) mobility pushes automakers to make room for new technology participants in the conventional mobility value chain. Features like intuitive brakes, blind-spot detection, night-assist vision, next-generation advanced driver assistance systems (ADAS) on a chip, and telematics are intensifying the pressure to realign mobility product and service strategies in response to progressively stringent safety regulations.
• What is your action plan to deliver safer, more connected, and personalized driving experiences amid this transformation?
• Is your company equipped to assess and incorporate cutting-edge technologies to secure early adopter benefits?
• How will you navigate internal and external growth challenges in this sector to accelerate innovation?
In a world where the sharing economy, digital tools, and safety features increase the longevity of automotives, the consequent drop in vehicle unit sales is inevitable. Unsettling as this may be, such a transformation is likely to have more victims than winners, as industry incumbents grapple to keep pace with the disruptions brought on by digital technologies and fierce competition from new entrants.
• Which growth processes will help you future-proof your CASE action plan and build recurring revenue pipelines?
• Are your teams aligned to execute your long-term growth vision through agile strategic planning?
Riding the Wave of Digital Transformation to Emerge Victorious
Triggered by the accelerated rise of technologies like on-board digital software, Big Data analytics, LiDAR, autonomous platforms, and software-defined vehicles automakers are under immense pressure to deliver cutting-edge convenience and value-added features across multiple vehicle segments at minimum costs.
To build competitive differentiation, OEMs now need to embrace best practices, growth pipeline management systems, and trusted implementation frameworks that empower them to use digital transformation to their advantage.
• What mega trends and business models propel innovation in automotive safety and connectivity, and how best can you capitalize on these?
• How will your supply chain, manufacturing platforms, and sales channels need to pivot to realize the full potential of this transformation?
Fostering Digital Agility to Minimize Risks
With mobility players taking the net zero oath to minimize fatalities, it is crucial to realign active and passive safety product portfolios to fulfil changing customer preferences and meet regulatory/security mandates. Further, as legacy OEMs grapple to create and deliver customer value, the reluctance to embrace digital transformation can have detrimental effects on growth—laggards face the risk of dwindling bottom lines against a backdrop of future-forward safety features.
• How will you leverage innovative technologies to support off-the-shelf autonomous driving, the automotive metaverse, and driver monitoring systems to build competitive differentiation?
• How do you plan to modernize safety and connectivity features in your product portfolio to zero in on smart ADAS features?
• In this dynamic ecosystem, how do you track evolving regulatory and security frameworks to ensure compliance?
Innovation That Fuels Growth Pipelines
RapidSOS
RapidSOS expertly addresses unmet customer needs in connected mobility safety with a strong leadership focus that incorporates customer-centric strategies and exemplifies best practice implementation. The company offers a robust cloud-based emergency response data platform that is changing the way 911 telecommunicators, public safety, and first responders gather and use data in the wake of an emergency.
RapidSOS supports over 165 million emergencies each year, with its technology integrated into 400 million connected devices. Its robust platform reaches over 5,200 emergency communications centers in the United States with growing international presence in five continents. Unlike other competitors, RapidSOS builds its products by collaborating closely with a range of over 60 technology partners and stakeholders to evolve alongside industry needs and trends. This empowers the company to effectively support communications centers with the necessary tools/training to enable first responder preparedness amid an emergency crisis. As the company expands its focus on enhancing other industries, RapidSOS successfully capitalizes on growth opportunities in sectors like connected mobility, public safety, healthcare, and security.
Thus, RapidSOS remains a trusted partner, earning a reputation for offering best-in-class services for public safety in connected mobility.
Mobility ecosystems of the future necessitate coopetition between automakers, technology providers, start-ups, governments, and other entities to create holistic mobility solutions. Traditional boundaries between automakers and tech companies are blurring, as collaboration and innovation become key pillars in delivering the next generation of vehicles. Stakeholders that fail to adapt will be subject to compliance failures, skyrocketing development costs, accidental liability, loss of revenue, and missed opportunities. The question is—What strategic partnerships and collaborations should you forge to deliver innovative mobility solutions that maximize customer value?
Are You Ready to Evaluate Your Safety & Connectivity Alignment and Transform Your Business?
To navigate evolving business ecosystems, companies across the automotive and transportation continuum must identify and overcome crucial growth barriers. The key to success is finding the right opportunities that align with your growth vision and implementing the best-fit strategies. Frost & Sullivan has six decades of experience in connecting global mega trends, emerging technologies, and new business models to drive radical growth. We help companies identify, evaluate, and prioritize best-fit opportunities that empower them to thrive through change.
Let us guide you through your transformation journey by working collaboratively with the ecosystem community of companies in automotive safety and connectivity. This journey is fuelled by four powerful components, ensuring your success in navigating industry changes:
Schedule a Growth Dialog with our team to dive deeper into transformational strategies and explore specific needs within your company.
Become a Frost Growth Expert in your area of specialization and share your expertise and passion with the community through our Think Tanks.
Join Frost & Sullivan's Growth Council and gain access to think tanks focused on the transformational growth strategies for safety and connectivity.
Designate your company as a Companies2Action to increase exposure to investors, new M&A opportunities, and other growth prospects for your business.