Autonomous vehicles: $ 1.2 trillion for the future of traffic!
Autonomous vehicles: $ 1.2 trillion for the future of traffic!
What is actually going on in the area of autonomous vehicles? The developments in this sector are breathtaking. According to Investopedia see analysts of the Bank of America in Nvidia, Qualcomm and Caterpillar a lot Potential to benefit from the current boom of the autonomous vehicle market. This industry will grow to around $ 1.2 trillion by 2040, including exciting areas such as robotaxis, autonomous truck and much more.
Autonomous vehicles, often abbreviated as "AVS", are currently experiencing a real "chatty moment" transformation, which is promoted by immense progress in artificial intelligence and falling costs for sensors. In the meantime, fully functional robotaxis in seven cities worldwide are in use, including in San Francisco and Los Angeles with providers such as Waymo and Baidu.
The enormous market options
In the course of the next few years, the autonomous vehicle market will be estimated at around $ 700 billion-with a special focus on robotaxi services. In order to take advantage of the opportunities in this area, Bank of America has identified a total of 28 listed companies that work in six different subsectors: from vehicle manufacturers to mobility platforms to software developers and insurance companies such as progressive.- Vehicle manufacturer: Caterpillar, Deere & Co., Toyota, Hyundai, Xpeng, Daimler Truck, Xiaomi.
- Mobility platforms: Uber that expand their AV driving services.
- Software provider: Amazon (Zoox), Alphabet (Waymo), Dassault Systemes.
- Sensor company: Attiv, Denso, Robosense.
- semiconductor manufacturer: Nvidia, Qualcomm, Mobileye.
- Insurance: Progressive Corp. that develop specific AV insurance products.
The development of new technologies is not without challenges. McKinsey emphasizes that to realize these advantages of automotive manufacturers, design new sales strategies, build technological skills and address security concerns. Despite the setbacks, the experts agree: autonomous driving has the potential to fundamentally change traffic and consumer behavior.
The width of the applications
Not only in urban traffic is the relevance of autonomous technology. The worldwide freight market, currently estimated at around $ 4 trillion, is also revolutionized by the AVS. With 90 active pilot programs that aim at long freight transport, companies can implement enormous productivity gains of up to 30 % and savings on labor costs of up to 50 % through the use of autonomous trucks. Autonomous vehicles also show promising progress in the agricultural sector and mining.
The innovation speed is rapid, and companies already integrate advanced technologies such as “physical AI” and voice models into their vehicles to optimize decision -making in driving situations. The AV sector is not only pushed forward through technological progress, but also by a favorable regulatory environment and the competitive situation between the USA and China, which also accelerates the innovation.
The future of autonomous driving is exciting, and the OEMs have to act strategically so as not to lose the connection in this dynamically developing market. A new business model could arise that drivers of self -driving cars are no longer liable for accidents. In this way, completely new insurance pyramids and customer claims could be defined. Ultimately, all of this leads to one of the most exciting times in the automotive industry.
All in all, the potential and challenges of autonomous driving are enormous. According to The outpost , long-established industries can also be fundamentally converted. An changing environment requires all of us to be flexible and adaptable in order to use the opportunities of the future as best as possible
If you want to learn more about how autonomous vehicles could change our society and business, visit mcKinsey Running!
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