RETURN TO WWW.2019.ITSINEUROPE.COM FOLLOW US

GenZ shaping the future of mobility ownership

Generation Z’s distinct attitudes and preferences—as both consumers and future vehicle owners or users—are set to dramatically transform the mobility sector. For instance, the preference among the post-millennial age group for access to, rather than ownership of, assets is compelling automotive manufacturers to reassess long-established strategies centered on car ownership. 

 

While traditional approaches have proven successful with earlier generations, they are less likely to resonate with Gen Z, who are driven by a different set of needs and motivations. 

Gen Z, the “digitally native” demographic group born between 1994 and 2010, accounts for about 24% of the world’s population, or 1.8 billion people. This age cohort is expected to be the most ethnically diverse and tolerant generation yet. It is also socially and environmentally aware, and fiscally conservative.

For vehicle manufacturers, these characteristics will have far-reaching impacts. Brands will no longer be the focal point for a generation that is shaped by constant connectivity and ready access to information, and receptive to non-formal channels of communication.

It also means that financially conscious Gen Zers are likely to be primarily concerned with vehicle price and safety. Gen Z customers will be more comfortable with the idea of autonomous vehicles and more focused on their function (represented by the vehicle’s interior design) rather than their form (as showcased by their exteriors).

“The automotive industry is starting to explore what Gen Z wants in a car,” explained Lynne Goulding, Principal Consultant in Frost & Sullivan’s Visionary Innovation Group. “Designing specifically for digital natives means dispensing with standard assumptions behind automotive design.”

“As Gen Z will be more concerned with the interior of the vehicle than the exterior, we will see OEMs place more emphasis on technology and personalization. For example, deep machine learning and predictive processes will mean that, with each journey, vehicles will become more familiar with user likes and preferences,” Goulding added.

According to Frost & Sullivan, owning and driving a vehicle are no longer central themes in the mobility landscape. In the UK, for example, the number of young adults (age 17 to 20) with driving licenses has fallen by 40% since the 1990s. Such changes have been driven by a range of factors, including young people having families later in life, the cost of vehicle ownership, and the emergence of alternative modes of mobility, especially in cities.

Cities will be where Gen Z’s mobility preferences are most rapidly shaped. “Many cities across the world are encouraging shared and public transport over private vehicle ownership, paving the way for a seamless and multi-modal mobility system. In the future, it is likely that Gen Z will be mode-agnostic, choosing whichever mode gets them from one place to another most efficiently, based on preferences such as time, cost, and environmental impact,” Goulding noted. 

This article was provided by Autonomous vehicle  Technology. Register for free access to Autonomous Vehicle Technology’s print/digital magazine issues, e-newsletters, and website at www.autonomousvehicletech.com/register.”

About ERTICO

ERTICO – ITS Europe is a
public-private membershipdriven
organisation promoting,
developing and deploying
Intelligent Transport Systems
(ITS) in Europe to save lives,
protect the environment and
sustain mobility in the most
cost-effective way.

The organisation was
founded in 1991 at the initiative
of 15 leading members of the
European transport industry.
Now, with 120 Partners, ERTICO
connects public authorities,
industry players, infrastructure
operators, users, national
ITS associations and other
organisations and works to
“Shape intelligent mobility for
Europe together”.ERTICO

Read More

ERTICO Blog

  • PTV Group expands in Eastern Europe
    31 July 2018
  • Continental offers cyber security solutions for connected vehicle electronics
    24 July 2018
  • Nokia Open Innovation Challenge seeks startups with disruptive ideas for the future automation
    19 July 2018
  • Alliance launches European network for logistics information exchange
    18 July 2018

Contact

ERTICO
Programme
Pamela Valente
T: +32 (0) 2 400 0785
E: p.valente@mail.ertico.com

Commercial Partner
and Exhibition

Benoit Augarde
T: +32 (0) 2 400 0786
E: b.augarde@mail.ertico.com

Press and Media
Danielle McDonald
T: +32 (0) 2400 0754
E: d.mcdonald@mail.ertico.com

HOSTS
Connekt / ITS Nederlands
Nick Juffermans
T: +31 (0) 6 133 424 64
E: Juffermans@connekt.nl

City of Helmond
Gert Blom
T: +31 (0) 6532 148 51
E: g.blom@helmond.nl

City of Eindhoven
Lot van der Giessen
T: +31 (0) 6523 824 16
E: l.vd.giessen@eindhoven.nl

About ERTICO

ERTICO – ITS Europe is a
public-private membershipdriven
organisation promoting,
developing and deploying
Intelligent Transport Systems
(ITS) in Europe to save lives,
protect the environment and
sustain mobility in the most
cost-effective way.

The organisation was
founded in 1991 at the initiative
of 15 leading members of the
European transport industry.
Now, with 120 Partners, ERTICO
connects public authorities,
industry players, infrastructure
operators, users, national
ITS associations and other
organisations and works to
“Shape intelligent mobility for
Europe together”.ERTICO

Read More

ERTICO Blog

  • PTV Group expands in Eastern Europe
    31 July 2018
  • Continental offers cyber security solutions for connected vehicle electronics
    24 July 2018
  • Nokia Open Innovation Challenge seeks startups with disruptive ideas for the future automation
    19 July 2018
  • Alliance launches European network for logistics information exchange
    18 July 2018

Contact

ERTICO
Programme
Pamela Valente
T: +32 (0) 2 400 0785
E: p.valente@mail.ertico.com

Commercial Partner
and Exhibition

Benoit Augarde
T: +32 (0) 2 400 0786
E: b.augarde@mail.ertico.com

Press and Media
Danielle McDonald
T: +32 (0) 2400 0754
E: d.mcdonald@mail.ertico.com

HOSTS
Connekt / ITS Nederlands
Nick Juffermans
T: +31 (0) 6 133 424 64
E: Juffermans@connekt.nl

City of Helmond
Gert Blom
T: +31 (0) 6532 148 51
E: g.blom@helmond.nl

City of Eindhoven
Lot van der Giessen
T: +31 (0) 6523 824 16
E: l.vd.giessen@eindhoven.nl

Powered by ERTICO-ITS Europe

Powered by ERTICO-ITS Europe