We’re likely still a few years away from fully driverless cars, but as investments go, now could be a great time to invest.
Driverless cars feature heavily in the news these days and there are many companies that are racing it out for the lead: Google, Uber, Tesla, Ford and GM to name a few. Whether these companies plan to make their own cars or license out the technology remains to be seen, but the huge list of players make this an incredibly exciting industry.
The potential market for self-driving cars is massive. The Boston Consulting group expects it to reach $42-$77 billion by 2035 and big moves are already being made in the industry. For example, Audi just released its A8 luxury sedan with advanced automation controls, controls such as being able to take your hands off the wheel for a short period of time. And Tesla already builds all its new vehicles with self-driving hardware built into them and is not afraid to flaunt it! (Get ahead of the game and invest in Tesla stock here: iBillionaire Tesla Strategy)
Large name auto-makers, who have long been in the industry are well positioned to take the lead in the driverless revolution so investors needn’t look to Silicon Valley for the biggest players. Ford has already announced it will release fully autonomous vehicles by 2021, and General Motors isn’t too far behind with its $1 billion purchase of the driverless-car tech company Cruise Automation. If rumors are to be believed, GM recently completed production of 130 fully autonomous Chevrolet Bolt electric vehicles at one of its factories.
Intel is another example of a company that plans to greatly benefit from self-driving cars if the industry kicks off, by selling processors to power the driverless technology. The company has also made some bolder moves too: the company recently purchased a semi-autonomous car technology company called Mobileye.
With all this bold moves, the future is closer than you think!
Advances in artificial intelligence technology could provide new services in the transportation sector or additional revenue streams for automakers. While fully blown driverless cars for consumers are exciting, there is a lot of technology behind the scenes which is being developed that could also present many additional exciting openings. How about autonomous delivery services for packages? The potential ramifications are huge!
Driverless vehicles won’t just be commuters looking for an extended sleep on the way to work but in fact have the potential to spread into the realm of long-haul trucking services – a huge market across the globe.
The driverless car market is still uncertain, but it’s almost a guarantee that they are on their way. Will you get in on the trend?
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