Top 10 for 2023: Predictions for the Global Passenger Vehicles Industry

Frost & Sullivan’s business strategy and innovation group (BSIG) specializes in research pertaining to current events, disruptive technologies, emerging trends, new forms of mobility, and Mega Trends influencing the mobility landscape.

This report presents the top 10 predictions for the global passenger vehicle industry in 2023. BSIG formed these predictions through a combination of focus group discussions and polls conducted with key market players. The team analyzed each prediction in depth to derive potential growth opportunities for various participants in the mobility ecosystem.

In 2023, electrification will remain central to automakers’ plans and will continue driving their supply chain strategies. Auto companies will maintain focus on achieving sustainability across the value chain. Software will become more influential throughout the industry and force automakers to realign their workforce operations. Digitization will drive the transformation of traditional factories into smart factories while investments and partnerships in energy initiatives will witness a spike.

Author: Joe Praveen