The future of work is a key theme impacting workforce across automotive industry, with companies leveraging new technologies and applications to innovate and improve their businesses. These include an access control system for an excavator, a method for seamless communication between telepresence robots and mobile offices, and a drive arrangement for motor vehicle flaps. Strategic investments and partnerships are also driving advancements in the industry, positioning automotive companies at the forefront of future of work. GlobalData’s Future of Work – Thematic Research report explains how the theme future of work is impacting the workforce across different sectors, it presents key technology, macroeconomic and regulatory trends, market size and growth forecasts for technologies that will play a key role in the theme. Buy the report here.
This article presents a quarterly round-up of the latest trends in the automotive industry regarding future of work. It provides an overview of recent developments in future of work-related deals, talent acquisition, and patent filings within the automotive industry.
Diverse applications of future of work in automotive industry
Automotive companies are leveraging new Future of Work technologies and applications to innovate and improve their businesses. These technologies include an access control system for an excavator, a method and system for connection handover from a telepresence robot to a mobile office, a drive arrangement for a flap of a motor vehicle, a report evaluation device, and methods and systems for a data marketplace in a fluid conveyance device environment.
The access control system for an excavator allows for precise control of the ladder position, ensuring safety and efficiency during operation. The method and system for connection handover from a telepresence robot to a mobile office enables seamless communication and collaboration between remote users and individuals in an office space. The drive arrangement for a motor vehicle flap improves the performance and reliability of the vehicle's flap mechanism. The report evaluation device utilizes learning models to evaluate the reliability of reports, providing accurate and trustworthy information. Lastly, the methods and systems for a data marketplace in a fluid conveyance device environment facilitate the collection, storage, and sharing of data from industrial fluid conveyance devices, enabling better decision-making and optimization.
By acquiring these patents, automotive companies can enhance their Future of Work technologies and applications, leading to increased safety, efficiency, collaboration, and data-driven decision-making in their operations.
The industry experienced a 30% decline in the number of future of work-related patent applications in Q3 2023 compared with the previous quarter. On an annual basis, the number of future of work-related patent applications in the automotive industry witnessed a drop of 16% compared with Q3 2022.
Strategic deal trends in future of work in automotive industry
Automotive companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in future of work. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of future of work in the automotive industry.
In Q3 2023, the number of future of work-related deals in the automotive industry grew by 167% compared with Q3 2022. On a quarterly basis, there was 14% increase in the number of deals in Q3 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q3 2023, the automotive industry experienced a 18% drop compared with the previous quarter. On an annual basis, job postings also declined by 27%. Notably, Computer and Mathematical Occupations, with a share of 19%, emerged as the top future of work-related job roles within the automotive industry in Q3 2023, with new job postings drop by 19% quarter-on-quarter. Architecture and Engineering Occupations came in second with a share of 16% in Q3 2023, with new job postings dropping by 16% over the previous quarter. The other prominent future of work roles include Management Occupations with an 8% share in Q3 2023, and Production Occupations with a 7% share of new job postings.
Countries driving adoption of future of work in automotive industry
The US is the leading country in future of work adoption within the automotive industry, boasting the highest number of future of work-related patents, jobs, and deals. Meanwhile, China, Malaysia, Germany and the UK also maintain significant positions in future of work adoption within the automotive industry.
In summary, the automotive industry showcases diverse Future of Work patents driving safety and efficiency. While experiencing a surge in strategic deals, notably in the US, there's a substantial decline in job postings, signaling a changing talent landscape within the sector.
To further understand GlobalData's analysis on future of work in the automotive industry, buy the report here.