Trends to watch in the new mobility industry
The mobility market is growing and always changing. Over the years new thing have been added to the mobility market, but it will become even more interesting for individuals and businesses to enter the mobility market. The year 2020 will be a crucial year for entering the mobility market and to do that successfully, one needs a good strategy. If you want a successful strategy you will have to concentrate on complexity and cost pressure, diverging markets, digital demands and shifting industry landscape. We at Bicle looked ahead and dived into these challenges, which can be turned into successful strategies.
Complexity and cost pressure
There will be more platform sharing in the future combined with the growth of modular systems going into 2020. At the same time, regulatory pressures will tighten. This means that the set of rules and laws surrounding the mobility market will be stricter and businesses should make note of that. Furthermore, it is expected that prices in established markets will be flat. This should be taken into consideration when you enter the new mobility market in 2020.
There is the need to adapt in the new mobility market. A business needs to adapt to changing regional and segment patterns of supply and demand with respect to their production and supply base foot-prints, supply chains, and product portfolios, as said by McKinley in their analysis of the future mobility market. We are now living in 2019 but the chain of supply and demand could change in a year and businesses should be able to adapt to that possible change. If you refrain from that and are not flexible in that respect, growth might stagnate in the future.
The customer wants to be connected to the businesses it might buy from, and it wants to stay connected with the world while doing that former. This means that they want it made it easy for them, wanted to be safe while engaging in a digital environment and use many digital sources. All these things will make them buy or not buy the product a business is offering. You can’t live without digital technology and that will only grow in the coming years.
Shifting industry landscape
The industry is changing and a business should take that in. Not only is it necessary to offer safety and innovative solutions to that shifting world, but it is also needed for businesses to act smart. Restructuring their production and more efficient use of their capacity can lead to bigger profits and it can lead to outsmarting the competition from China, which is heavily robotizing.
These are a few of the challenges businesses have when they want to enter the new mobility market in 2020. Those challenges could be turned into a great strategy. Which of the above challenges do you find the most challenging? Let us know!