The pace of change in automotive is accelerating. Markets have evolved from a state of organizational centricity, in which manufacturers and service providers largely define what types of vehicles to produce and market to customers, into entirely new forms focused on experience. Consumers, clients and colleagues are becoming active participants rather than passive recipients.
A paradigm in which consumers define their identities by the types of cars they drive is rapidly ceding to one in which the underlying objective of vehicle ownership is being questioned. Making mobility choices based on lifestyle preferences is becoming the new norm for today’s consumers.
This emerging environment can be defined within what we call the everyone-to-everyone (E2E) economy. The E2E economy has four distinct elements: It is orchestrated, based on business ecosystems that are both collaborative and seamless. It is contextual, in that customer and partner experiences are calibrated and relevant to their specific actions and needs. It is symbiotic, in that everyone and everything, including customers and businesses, are interdependent. And it is cognitive, characterized by data-enabled self-supported learning and predictive capabilities (see Figure 1).