Automakers are connecting with tech giants Uber, Google and other prominent start-ups to join the technological advancements which will influence the new generation of self-driving cars. The signs of a new generation of transportation are everywhere. These self-driving cars will modify our expressways and roads and put down the preliminaries for future smart cities by using machine learning, cloud computing and Internet of Things (IoT). Ride-sharing provides an easy way to spread the cost of a new autonomous car between many drivers, and both Uber and Lyft have the ability to become two of the biggest buyers of self-driving cars.
The self-driving cars will more significantly improve the industry disruption set in motion by famous ride-sharing services like Uber. This new generation transportation is coming together to design a world where driverless, smart vehicles will be the future of transportation. Ryan Chin, co-founder Optimus Ride, a startup working on self-driving technologies, says, “Autonomous vehicles will help bring the city to what it was – for people. Autonomous vehicle will play a big role in delivering a much safer environment because they follow the rules of the road.”
As self-driving cars, a new generation of transportation, are gaining power, its time the city landscape will remake by reducing urban congestion and traffic, promoting highway safety and consolidating parking. As the number of self-driving cars will increase, city planners will step up to revolutionize highways. David Tennenhouse, chief research officer for VMware, says ‘for decades, we thought we’d get to smart highways by making highways smart, but there’s been a huge chicken-and-egg problem. With autonomous vehicles that can navigate existing infrastructure and talk to each other as they do, we can get more efficiency out of roads.’
Although the period of self-driving cars is still at early stages but it is the wave of the future. Gartner predicts that 250 million self-driving cars will hit the road by 2020 worldwide. The World Economic Forum foresees that in over next 10 years autonomous vehicles will produce one trillion dollars in ‘economic benefit to consumer and society.’ Furthermore, they anticipate that by 2025 self-driving cars will stop 9% of accidents by saving over 600,000 lives. It is probable that by 2040, 25% of the global market will compromise of self-driving cars, the new generation of transportation. Intel and research firm Strategy Analytics are calling the self-driving cars ‘Passenger Economy’. Their economic vision valued at seven trillion dollars by 2050 will make drives idle passengers leading to new services such as health-care treatment pods and onboard beauty salons. They also expect to reduce public safety costs related to traffic accidents by $234 billion.
The self-driving cars are a new generation of transportation. It will alter people’s relationship with cars due to Mobility as a Service (MaaS), where people use autonomous cars on demand. Reports from Intel and Strategy Analytics estimate 3 trillion dollars in revenue by 2040. Moreover, MIT predicts that self-driving cars will meet society’s personal transport necessities which would lead to 80% fewer vehicles in transit. At the same time, self-driving cars would annually free up almost 250 million hours of traveling time for consumers, especially for people living in congested cities.