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Stories Stories Technology Big Money Coming to Driverless Cars

Big Money Coming to Driverless Cars

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Written by Aldine      June 05, 2014    
 
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Manufactures will spend a significant amount of money on developing advanced systems for autonomous vehicles over the next seven years as they seek to transform the personal transportation industry, one industry group says.

As humans relinquish more control to machines on the road, these systems will be expanded from simply providing alerts in hazardous situations (such as beeping if you are backing up too closely to a car when parallel parking) to direct intervention in order to avoid accidents.

Big Money

Many manufacturers, including Toyota (TM), have started to implement semi-autonomous features onto their cars and invest in a future where machines -- not humans -- are controlling vehicles on the highway.

In fact, worldwide revenue for active-control systems in vehicles is set to reach $883.9 million in 2020, up from just $187.3 million last year, according to new data from IHS (IHS). The seven-fold increase equates to a compound annual growth rate of 25% over seven years.

For now, Google planning to build about a hundred prototype vehicles. Later this summer its safety drivers will start testing early versions of these with manual controls and “if all goes well,” Google says it is aiming to run a small pilot program in California in the next couple of years.

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Author
Jennifer Booton
Contributor's Comment
Google's driverless car may look more like a cartoon character than a revolutionary product, but don’t be fooled -- investment in robotic cars is set to soar over the next few years whether the public is ready for it or not.
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