The global market for self-driving vehicles is rising fast, crossing the USD 158 billion mark last year. Additionally, this market will likely grow above 32% until 2030. Those numbers are even more impressive, considering there aren’t many autonomous vehicles around yet. What does this market look like now, and what is expected from it in the future?
Driven By Technology
The reliability and safety of driverless vehicles depend on the accuracy of AI-based systems and assistants. They use advanced mapping systems scanning everything and everyone around the car. This system can be enhanced by tools like address4.com, which allows users to create complex geolocation combinations.
The concept of self-driving vehicles isn’t new; it can be found in sci-fi novels from the 1930s. The first prototypes were developed 30 years later but were still very limited. Autonomous vehicles (AVs) regained importance in 2004 when the US Defence Department offered a USD 1 million prize for anyone who could build an AV to cross the 142-mile-long Mojave Desert. The best vehicle went as far as seven miles.
Only two decades later, engineers have access to much more refined technology to build a fully functioning AV; some are already out. Carmakers like Tesla, Baidu, and Nuro already have models with AI-based detectors and driving assistance features. Nuro has partnered with companies like Domino’s Pizza and Walmart to scale the production.
AVs also count on cameras and sensors feeding the driving system with real-time information about road conditions, traffic signs, crossing pedestrians or animals, etc. Based on this information, the vehicle adjusts speed and lane position and prevents collisions.
Roadblocks Ahead
Safety and reliability are the main concerns regarding AVs at the moment. Despite the impressive development of AI and machine learning technologies, AVs still need improvement. The number of road accidents involving malfunctioning AVs is enough to scare the public.
Indeed, the challenge of creating a system that can respond accurately to any on-road situation is immense. The challenge isn’t only technological but ethical. Questions like whether the AV should focus on saving the passenger or the pedestrian in a life-or-death situation remain unanswered.
AV-focused industries also need help with scalability and delivering mass production. Additionally, even today’s roads and general city layout require adaptations to retrofit this new type of vehicle. Above all, driverless systems must be immune to cyberattacks, which could have tragic consequences.
A Driverless Future
Despite bumps in the road, the automotive and technology sectors will keep investing heavily in AVs. The costs of vital components for these vehicles, like sensors, cameras, and high-end computers, are declining, which means those components will likely become more common.
Finding cars that can self-navigate through stop-and-go traffic conditions while maintaining a safe distance from neighbouring vehicles is already possible. Soon, those technologies will be combined to handle more complex situations.
The public is still sceptical about AVs’ reliability. However, there’s a huge interest in driving assistants and other automated features that can improve safety and maintain optimal speed in different driving conditions.
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