DIGITAL TRANSFORMATION IN THE INDIAN AUTOMOTIVE INDUSTRY
Keywords:Automotive Industry, SCP, Customer Value Creation, Digital Transformation
Contemporarily and hence Technologies with Smart Connected Products (SCP) are impacting automotive industry globally, reshaping not only competition, but the business processes also. New generation Cloud-Supported SCP with embedded technology integrated with complex combination of hardware, sensors, data storage, microprocessors, software and connectivity combined in various ways is fueling new Business Strategies of product and service innovations, shorter product life cycles, and cross-boundary industry disruptions (Hanelt et al., 2015). Customer value creation process is transformed from traditional product-centric companies to augment their revenue streams through Augmented Reality and hence reshaping competition. Jeff Immelt, Ex-Chairman of G.E., said- ‘every industrial company must become a software company’ (Porter &Heppelmann, 2014; 2017). Additionally, rise of social media (Facebook, Twitter, etc) empowered customers as powerful market players and reach almost everyone- anywhere and anytime (Hanelt et al., 2015).
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