The autonomous vehicle technology has been progressing with full speed. A huge sum has already been spent and much more in the pipeline to introduce driverless cars on roads. Currently, autonomous technology developers are racing to be the first to introduce the driverless technology. The first-move advantage is driving the speed towards L5 autonomy, which would open doors for new revenue streams. However, the key to the quick adoption of the technology lies beneath the safer technology. The legislation can make it harder for AVs to run without drivers and prolong the testing period further if the AVs is vulnerable to threats and jeopardising human lives.
In recent surveys, half of Americans think they would never buy a fully autonomous car. A number of accidents including a self-driving Uber vehicle that killed a pedestrian, which was the first ever death involved a fully autonomous vehicle, also impacted people views towards self-driving vehicles. We expect that initially fully autonomous vehicles would be used for ride-hailing purposes. However, ride-hailing companies are also facing some hurdles in key markets such as London, and recently in New York.
The global autonomous vehicle ecosystem has expanded significantly in recent years whereas both startup and leading technology corporations entered the market. We have seen some major M&As and partnerships recently across all the building blocks of the autonomous technology including data processing, sensors, connectivity, cybersecurity, mapping and algorithm.
Technology companies, such as Apple, Samsung, Google and Baidu have seen the same potential as car manufacturers and decided to invest in autonomous technology. Most of these companies partnered with automakers to speed up the development, but some are working stand alone.
This article is based on our recently publish report “Autonomous Vehicle Suppliers Market 2018: Trends, Developments and Competitive Landscape”.
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