The vehicle of the future is Connected, Autonomous, Shared, and Electric

CASE refers to “Connected” cars, “Autonomous / Automated” driving, “Shared”, and “Electric”. This definition talks about the recent developments which make cars more connected and automatic in the coming future. Technological advances in these areas are greatly changing the concept of the automobile as consumers are demanding personalized experiences and the industry is trying to cope with the demand.

The growth of the automobile industry has been fuelled by a significant increase in technological innovation, an increase in the standard of living, and favourable government policies like the right to Internet access. A revolution in car production has resulted from the introduction of automobiles powered by technologies like the Internet of Things (IoT) and Artificial Intelligence (AI). This has further aided in the development of driverless automobiles.

The World Health Organization (WHO) estimates that 1.35 million people worldwide died as a result of traffic accidents in 2018. 90% of these traffic collisions were caused by human error. Human mistakes include inattention, tiredness, and drivers’ irresponsibility. They increased accident rates when combined with other elements including uncharted terrain and poor vision at night and during fog. Road accidents can be decreased by incorporating several technologies, such as traction control, automatic emergency braking, and advanced driver assistance systems.

Sales of automobiles have increased as the world economy has expanded. But more and more people favor ride and car-sharing services like UberPOOL, Lyft, and Zipcar. Due to the rise of data-sharing and technology-related platforms, the future of the shared car sector looks bright. The global CASE market is expected to be driven by an increase in the use of these systems and technologies in automobiles.

Trends of CASE

The Influence of the growth of CASE vehicles, through legislation and financial support, the European Union (EU) encourages clean mobility.

The EU is investing 20 billion euros to encourage the manufacturing of clean cars and the installation of 1 million electric and hydrogen charging stations by 2025 in order to achieve its lofty goal of having 30 million electric vehicles (EVs) on the road by 2030. There are guidelines controlling the manufacture of ethical and ecological batteries, thus EU restrictions don't just apply to electric vehicles and charging stations.

The American government is promoting the ambitious goal of having 50% of all vehicles sold in the nation by 2030 be electric. The production of electric vehicles, EV chargers, and batteries has received top priority under the Biden Administration. Recently only, the National EV Charging network got an investment of 5 billion dollars from the administration. In this private sector partnership, 85 billion dollars were invested by the companies, manufacturing of EV for tripled, and in these last 2 years, around 28 times, batteries received an increased investment.

Governments in Asia have a big part to play in educating the car sector. By 2030, it is predicted that China would sell approximately 10 million electric vehicles, making it the largest market for these vehicles. By 2035, the Japanese government hopes to have become Japan the world's third-largest producer of automobiles.

Factors driving CASE

• Restrictions on the use of conventional IC engines have resulted from the implementation of severe environmental laws and government legislation to combat climate change worldwide. Electrical vehicles offer an alternative to internal combustion engines (IC engines) and have high torque ratings. The automobile industry's future is being shaped by them.
• Due to the availability of reliable and sophisticated safety measures, good economic ratings, and very accurate navigation, autonomous cars are likely to be driverless. For instance, businesses like BMW, Volvo, and Nissan are testing autonomous cars in Germany with the intention of selling them by the end of 2021.
• A growing number of individuals are choosing to purchase cutting-edge cars with cutting-edge features as a result of the economy's expansion and the rise in disposable income and purchasing power. This is driving the market for CASE and the autonomous vehicle sector globally.

Segmentation in the CASE Market

• In the Connected, Autonomous, Shared, and Electric (CASE) Market, which encompasses premium and luxury automobiles, SUVs, compact cars, minivans, and economy cars, passenger vehicles account for two-thirds of the overall demand. The Connected, Autonomous, Shared, and Electric (CASE) Market has grown as a result of manufacturers investing mostly in new automotive technology.
• Globally, factors driving the growth of the Connected, Autonomous, Shared, and Electric (CASE) Market include rising demand for advanced features, rising standards of living, rising purchasing power, rising per capita incomes, increasing industrialization, changing lifestyles, and high disposable income.
• The connected, autonomous, shared, and electric (CASE) market is anticipated to increase over the forecast period due to customers' rising demand for safe, high-end, luxurious, and comfortable automobiles.
• The CASE market is divided into OEM and Aftermarket segments according to the type of manufacturer; the Aftermarket category has the biggest market share globally. In order to create new EVs that adhere to the new legislation, many OEMs have partnered with domestic businesses. The CASE market is driven by several factors.
• The replacement market and in-unit installments have seen a rise in demand for CASE technology. Hence, as the fleet of vehicles of all types grows, so does the demand for CASE technology. Because to the high rate of adoption of passenger automobiles, CASE technology is widely employed in Europe and North America.

The Competition in CASE

General Motors, Toyota Motor Corporation, Nissan, Audi AG, Daimler AG, Ford Motor Company, Volkswagen AG, BMW AG, and Tesla Inc. are the major players operating in this market who are giving high competition to the new emerging ones.

Developments in Recent times

• In 2022, Toyota Kirloskar Motor came up with the 2022 Camry Hybrid which is priced at INR 41.70 lakh.
• The automotive industry, comprising automakers, technology firms, and service providers, is aggressively seeking solutions that might fundamentally alter our daily lives. Argo AI, an autonomous car technology firm funded by Ford and Volkswagen, is a fantastic example because it offers individuals a shared mobility paradigm. In May 2022, the business will introduce completely autonomous cars in Austin, Texas, and Miami, Florida, according to a Business Insider story. Ford and VW automobiles equipped with LIDARs, RADARs, sensors, and mapping software are examples of self-driving cars.
• The integration of a vehicle's in-vehicle infotainment system with automotive driving capabilities via 5G connection is another significant advancement in automotive technology. And it's a move that the car industry has just begun to use more frequently.

Coming Future concepts and expectations in the CASE Market

The four megatrends that are transforming the automobile industry are connected, autonomous, shared, and electrified. These four tendencies, together with recent shifts in consumer behaviour and quickening technology advancements, have brought us closer to a driverless, constantly connected, battery-powered future without the need for personal car ownership. Although the conventional concept of "the automobile industry" is changing quickly, this industry restructuring presents chances for incumbents as well as for others.

With an increasing number of electric vehicles on our roads every year, the automobile industry is moving inexorably closer to its CASE future. The question of whether the internal combustion engine will be a history of the automobile is therefore not if, but when. Moreover, in the upcoming years, it is expected that there will be a steady growth in the number of autonomous cars on our roads. We must get a deeper comprehension of the moral questions and develop legislative frameworks in order to be better prepared for a future of safer and more environmentally friendly transportation. Advanced simulations of autonomous cars are the only practical method to do this.