âAccording to the recent research report, the demand for Self-driving car market size and share is expected to reach $ 64.88 billion by 2026 from $ 23.33 billion in 2020, at a compound annual growth rate (CAGR) of 22.7% during the forecast period 2021 to 2026 “
This report highlights:
An autonomous car is a car that can sense its surroundings and drive itself without human assistance. It is not necessary for a human passenger to take control of the car at any time, nor to be in the vehicle at all. An autonomous automobile can go where a standard car can go and perform any task that a skilled human driver can do. Autonomous vehicles now allow non-drivers and people with disabilities to travel independently. They allow travelers to travel in more luxury and flexibility, allowing them to read, rest or even work on the road, thus increasing their efficiency. Radar, sonar, LIDAR, GPS and inertial estimation units are some of the sensors used by cars to identify their current situation without anyone’s help. State-of-the-art control frameworks decode tangible data, such as roadblocks and basic signage, to determine appropriate routes. The autonomous vehicle will transform the automotive industry.
Market leaders to watch
Leading companies include:
Alphabet / Waymo – Based in Mountain View, Calif., Waymo is a developer of autonomous driving technology designed to deliver on-demand driving services that make it easier for people and things to move. The company’s departments use built-in sensors and artificial intelligence to detect pedestrians, cyclists, vehicles and roadworks, enabling users to have a safe and enjoyable on-demand travel experience in self-driving vehicles. The company has more than 2,000 employees and recently injected significant capital of $ 2.5 billion for the continued advancement of its autonomous driving technology. According to investor website PitchBook, the company is valued at just over $ 30 billion. Waymo is now a subsidiary of Alphabet Inc, the parent company of Google.
Amazon – Amazon has acquired Zoox, an American autonomous vehicle company based in California. The six-year-old startup is redefining mobility as a service by developing a fully autonomous and purpose-built fleet for AI to drive and humans to enjoy – and over $ 1 billion has been invested in Zoox. Amazon has also invested in other autonomous driving startups like Aurora and Embark, further signaling their vision of last mile delivery robots and sidewalk robots for transporting small packages to customers’ homes.
Refractive AI – Based in Ann Arbor, Michigan in the United States, is a developer of an autonomous logistics robot designed to provide secure and scalable last mile freight delivery in urban areas. The company’s robotics can navigate using camera sensors, operate in traditional car and bicycle lanes, and pick up goods from places such as restaurants, drugstores and grocery stores, allowing businesses to streamline and optimize mobility and deliveries. The company is privately held and recently secured its US $ 4.2 million Series A funding and has 33 employees based on Pitchbook data.
Aptiv – formerly named Delphi, is one of the largest automotive suppliers in the world and also acquired Boston-based self-driving car startup NuTonomy a few years ago. Delphi is a UK-based GM spin-off company that has established itself in markets like Singapore. They have a very ambitious plan to reduce the cost of self-driving cars, hardware and software costs that fall between $ 75,000 and $ 150,000 which is prohibitive for the widespread adoption of the technology by consumers and have a plan which by 2025, autonomous driving costs will drop to around $ 5,000 due to technological developments and (higher) volume. purchases. Let’s see what happens, but Aptiv is definitely worth following. The company is also listed on the stock exchange – symbol of the APTV sticker,
AutoX – Based in San Jose, Calif., Company-backed, AutoX is a developer and manufacturer of autonomous vehicles based on autonomous driving technology intended to handle the challenging and dynamic traffic scenarios in urban cities around the world. The company uses low-cost artificial intelligence, cameras and other sensors to provide safe, reliable and affordable autonomous delivery, enabling users to react quickly and make autonomous driving decisions while making their daily lives easier. . The company has more than 120 employees.
Optimus ride – Based in Boston, the company is a developer of self-driving technology systems designed to enable efficient, sustainable and fair mobility networks for geo-fenced environments. The company’s technology combines advancements in complex sensor fusion, mapping, computer vision and machine learning, enabling customers to utilize transportation from commercial vessel operations to transit options. The company is a private company, supported by businesses, and has more than 180 employees.
Asia – Driverless cars
I would be remiss if I did not also highlight the Asian manufacturers of autonomous vehicles and mention: Baidu which is the clear leader, along with others like: WeRide and AutoX as well as the ride-sharing operator Didi. Baidu operates China’s largest AV test fleet, with nearly 200 vehicles, and has partnerships with more than 100 third parties, including automakers, through its Apollo program.
United Kingdom – Driverless cars
Although the UK is not yet a leader in driverless cars, there are a number of companies moving forward in this sector including: Flourish, Five.ai, Jaguar, Oxbotica, StreetDrone , Wayve and Zenzic. It is worth noting that the UK government is keen to be at the forefront of the deployment of autonomous driving technology and the Department for Transport projects that by 2035 around 40% of new UK cars could have autonomous driving capabilities, creating up to 38,000 new skilled jobs. Special mention: The UK government announced in April 2021 that it will regulate the use of low-speed autonomous vehicles on motorways, with the first cars of this type expected to appear on public roads as early as this year. This was a major development in the advancement of driverless cars to become more mainstream. The UK Department for Transport is updating its country’s highway codes for the safe use of autonomous vehicle systems, starting with Automated Lane Keeping Systems (ALKS), which use sensors and software to maintain cars in one lane, allowing them to accelerate and brake without a driver. grab.
Driverless Cars – Value Outlook
There are many reasons that self-driving cars can advance effective safety as long as we can get the right technical and ethical designs – one of our biggest challenges is who to save and who not to save? Driverless cars rely on sophisticated AI and intelligence monitoring software, smart camera systems and just imagine the cybersecurity risks of a hack across an entire automotive network. and regulations for this industry.
McKinsey and Company reported that self-driving cars would reduce car crashes by up to 90%, prevent up to $ 190 billion in damage and health costs per year, and save thousands of lives. Self-driving cars are programmed to obey all traffic laws. Self-driving cars are never distracted by their phones while driving, nor do they drive drunk or fall asleep. Self-driving cars are great at detecting and avoiding obstacles, and have stronger visual acuity than the human eye on bad roads. Self-driving cars have a 360-degree view of their surroundings and can process a lot more information than any human. Self-driving cars have the potential to avoid 90% of crashes, saving an estimated 30,000 lives per year in the United States. These are all great reasons to keep moving forward – wisely.
My next Forbes article will focus on the ethical aspects of self-driving cars. In the meantime, as an administrator or CEO, where you have vehicles involved in your business model, especially in the transport and logistics industry, participate in the first projects to learn more about these emerging areas. fast will be an important development of your Business Plans. Even investing in these emerging players offers huge returns for your future growth and success. Every large transportation and logistics company should have a venture capital arm to invest in AI, ML, and specific use cases that have IP and revenue-generating potential. Always thinking about the future is the key to your growth and success – and your ability to survive in the long run.