Self-Driving Cars and Light Trucks Markets Estimated to Reach $3.6 Trillion in 2023
Worldwide markets are poised to achieve significant growth as self-driving cars and light trucks permit users to implement automated driving. Fleet vehicles from Uber, Google and similar users are likely to be the early adopter groups. Tesla, Mercedes, and Audi are among the vendors with a leadership position in the personal luxury vehicle self-driving car markets.
Every car maker seeks to participate in this self-driving personal vehicle market. The ability to do so depends on implementing next generation technology that is very expensive to get working. Vendors ae seeking to work together to set standards and develop shared modules that provide basic functionality. Cameras, sensors, artificial intelligence software, and LiDAR are among the modules being developed.
Autonomous vehicle technology has the potential to institute major change in personal mobility. Autonomous cars are the next generation of manual cars, poised to provide thrust for a large replacement market. Autonomous vehicles are the base for building a personal car services, particularly in large cities. Carmakers and Silicon Valley companies bring different skills to the task of building a self-driving car. Together they are finding common ground to transform the personal vehicle industry. One thing they are unlikely to transform is performance.
Every person who owns a vehicle has a preference on performance. The Tesla has gained recognition for offering a self-driving vehicle, but it is first and foremost a performance vehicle. This characteristic will not change as self-driving vehicles come on the market. People like the customization of features and functions in their car.
This customization aspect of self-driving vehicles does not get talked about much, but it is a very important part of the industry. It will not go away just because cars are run by software. From auto racing to personal preference, ever car has its own personality and its own comfort. Performance is part of the package. Every car maker seeks to participate in this self-driving personal vehicle market with a distinctive offering. The ability to have unique appear to customers depends on implementing next generation technology in a manner that works effectively and is relatively inexpensive to implement.
Apple, IBM, and Google are sure to be among the significant software vendors for all the self-driving car and light truck market participants. IBM has a huge head start with its excellent middleware branded integrated solutions that are hardened and reliable. Google has mindshare and early market success with its early market trials.
As automated process hits the auto industry as a disruptive force, it parallels the automated piloting of the airline industry that saw significant labor savings implementation. Automated vehicle driving can be done anywhere just by connecting the car to integrated adaptive cruise control, adaptive steering and braking, and lane assist systems all working off one central processor.
Self-driving cars and light trucks incrementally add automated process to driving. As software is added to cars and light trucks it is done in concert with modification to the steering, breaking, and other automotive systems. Autonomous functions for vehicles are increasingly adopted.
Change is incremental, we do not have fully functioning self-driving cars immediately, rather, steering, collision avoidance, parking, test driving, series of camera and radar based monitoring systems, lane assist, and adaptive cruise control are being implemented, presaging rapid adoption of self-driving cars and light trucks as the various functions mature and work in the real world.
According to author of the study, “The market for self-driving car and light truck vehicles is anticipated to expand in parallel with the deployment of appropriate roadway controls funded by government programs. The large public investments for self-driving vehicles so far has been for development of technology that works for military purposes. The extension of this type of automated system to commercial fleet vehicles will be rapid after 2019”
The self-driving car designs amalgamate a group of features to represent an automated process solution. These include the hardware, the software middleware, the steering system, adaptive cruise control, numerous software applications, an integrated systems approach, and related services. Significant investments in research and development are necessary as the emerging self-driving cars and light trucks industry builds on incremental technology roll outs.
Self-driving car and light truck commercial market shipments forecasts indicate that markets beginning to develop in 2016 will rise to $3.6 trillion by 2023. Spectacular growth is a result of various moves toward autonomous vehicles that can go across the US by themselves, provide automated navigation, integrated braking and steering. Most auto vendors have gone beyond the testing stage to offer vehicles that have strong navigation capability.
Safety modules are complimented by mapping vehicles that provide navigation. The Tesla and other vehicles provide driver alerts but fall sort of complete self-driving.
Market driving forces relate primarily to the need for increased safety and personalization for autos. Car manufacturers are positioning with self-driving car models to meet demand at the high end, and in every category of car and light truck. Many self-driving vehicle car vendors are making automation for personal vehicles and light trucks a reality.