It seems that within the next several years autonomous cars will become the future of the automotive market. Nowadays, almost every major company is developing systems for creating a self-driving vehicle.
Modes of transport are gradually changing: in developed countries owning a car is becoming less popular. The use of autonomous vehicles can contribute to solving many of today's transportation problems. Smart cars can, on a larger scale, help to reduce exhaust gas emissions and lower the number of victims of car accidents. The question isn't whether computers will replace drivers, but when, and how it'll effect the automobile market.
In the United States alone the automotive industry, including oil companies, generates revenues of over $2 trillion. In market news, there are countless announcements of new self-driving cars. Virtually every major company is currently working of developing such technology. This is due to the fact that if a company overlooks this moment of growth in autonomous cars and electric motors, it might not be able to compete with other manufacturers.
It is worth noting that one of the companies that has been working on such projects the longest is Google
Another company working on self-driving cars is Uber. Last August the company teamed up with Volvo to create an autonomous vehicle. The estimated cost of the investment amounts to $300 million. The development of such cars will allow Uber to reduce its biggest expenditure, i.e. the remuneration of drivers. Volvo Cars provided Uber with modified XC90 models. During tests there were two people closely monitoring the car behavior.
Despite the company's innovation and significant popularity, its board continue to rely on private investors, who believe in the success of the company that is changing the transport services market. It is worth bearing in mind that Uber isn't tolerated in every country, due to taxi companies' protests. There were instances where drivers waiting for their clients where blocked and protested against. In China, Uber was forced to sell its branch to its rival, Didi Chuxing.
Elon Musk's company Tesla
Audi decided to release a model that uses the Traffic Light Information system which allows for your car to communicate with servers of traffic management and informs the driver about the time remaining before the traffic light changes. Although a few other manufacturers started working on similar solutions, Audi is the first one to implement it. Due to obvious limitations, the number of cities in which this service is available is relatively small. However, in the long run the German producer looks forward to a wider use of this technology.
Then there's Ford
Finally, it is worth adding that first autonomous car racing series was just created, which can definitely help to implement innovative solutions for the driverless road cars market.