The is a great example of a sector that has needed to pivot regularly to meet the demand of consumers. From fuel efficiency to safety features to high-tech solutions, the companies that dominate the market have successfully redefined their brands and introduced relevant models that meet modern needs. While modes of travel in the future may have endless possibilities, the demand for vehicles is here to stay.
How can automotive companies develop and deliver models that keep up with rapidly changing advances in technology? Roadmap software is one fundamental way to ensure that the right ideas make it to the development phase and all the way through to successful launches. Let's look at some automotive trends and how roadmapping can make them possible.
Evolving Trends in Auto Industry
The environmental consequence of driving gasoline-fueled cars has forced manufacturers to invest in green technologies to cater to the more environmentally conscious consumer. While electric and hybrid models continue to see a surge in demand, the newly emerging fuel-cell electric vehicles, which boast faster charge times and longer distances, present an innovative and attractive option for the future.
With many automakers focused on integrating digital technology into their vehicles, autonomous self-driving cars will see a significant expansion across the market. This technology has been shown to provide a safer driving experience, with a reduction in driver fatigue resulting in a lower incidence of negligence-related accidents. Autonomous vehicles also provide advantages in fuel efficiency, reducing harmful carbon dioxide emissions that impact the environment.
Due to these improved efficiencies, self-driving technology has also been utilized by commercial trucking companies and will see greater deployment in the coming years.
Predictive intelligence and maintenance technologies will become a prominent feature in cars as the use of digital technology expands across the market. These connected cars can communicate wirelessly with systems and services outside their local network and send digital data such as remote diagnostics, vehicle health reports, and data-only telematics. This bidirectional communication function serves to warn of car health issues and directly intervene to prevent vehicle breakdowns.
Digital Automotive Sales
E-commerce has made significant inroads into the automotive market, with the last few years seeing a boost in digital automobile sales. Many dealerships now offer a fully virtual experience where consumers can pick, purchase, and finance the vehicles they want online, eliminating the need for an in-person visit to the dealership. At-home test drives and home delivery are also an option that makes shopping for a vehicle more accessible and easy to manage.
How Product Roadmap Management (PRM) Software Supports the Automotive Industry
As new innovative technologies are developed across the automotive industry, managing them is vital to promote efficiency. Advances in technology and features don't happen overnight; they take years to put into motion. PRM software makes it possible to plot, plan, and execute complex development plans and coordinate across teams to ensure the pieces all fall into place.
Long-Term Milestone Tracking
In order to stay on top of these many new initiatives, the product manager must clearly define their vision with a focus on the goals. While the short and mid-term goals provide a more immediate view of tasks on which the development teams must focus, having a long-term goal helps to guide the activity.
Product roadmap management software helps product managers to:
- better manage their product line by clearly defining and outlining their goals
- map out all feature updates on a series of timelines well into the future
- track progress as they move through the development process
With the growth of digital technology becoming a prevalent feature in automobiles, the ability for long-term milestone tracking and product launch plan checklists will allow the product manager and his product teams to understand their progress at any point in time.
Cross Collaboration With Remote Teams
The global nature of modern automotive manufacturing makes cloud-based, accessible roadmaps a necessity to ensure the efficiency of operations. Roadmaps housed on a single platform allow for the following:
- ease of accessibility and sharing of data
- updates to information made in real-time
- a reduction in the problems associated with outdated information
Multinational automotive companies have operations that span the globe, with multiple development teams involved in the production of a single product. With the ability for all product teams to input their data in one location, faster, more reliable decision-making is facilitated. By providing a unified platform for cross-collaboration, project management is simplified, and goals can be attained faster.
Cross-Portfolio Feature Mapping
The feature library contains the product features that are available for use across all product lines. This is particularly useful when:
- developing new products
- deciding which features to include in a particular model
- analyzing value as it relates to price.
Customer support teams can assist with feedback on how the consumer relates to the features. Understanding where features are lacking and where they are succeeding will better help manage the product portfolio when planning future updates to product features.
Product Line Dashboard to Assess Portfolios
Product roadmaps provide a high-level view of the product portfolio that allows the product manager to:
- assess their existing product portfolio
- identify gaps and opportunities in the market
- develop new product concepts
Products can also be compared and visualized side by side, either within your product line or with the competition. Understanding the market and working with product ideas and features that will appeal to your target audience will help to promote a successful product launch.
Map Dependencies Along the Roadmap
Any disruptions which cause a delay in launching a new product can be detrimental in the highly competitive automotive market. The automotive industry is heavily reliant on globally sourced components to produce its products, and the worldwide pandemic, inclement weather events, and political upheaval have posed a significant threat.
With a heightened focus on supply chain disruptions, developing an agile product roadmap will allow the product manager to:
- identify the extent of the dependencies across product lines
- develop a well-informed risk management strategy
- use collaborative features to manage the disruption more effectively
Product Roadmap Management Software for the Auto Industry
At Gocious, we understand the complexity of the discrete manufacturing process. Automotive trends, technological advancement, and supply chain disruptions all require the tools to assess effectively and analyze data to promote faster, more informed decision-making.
Book your free demo today to see how Gocious Product Roadmap Management software will meet your demands in this fast-paced, ever-changing automotive landscape.