Advent of Autonomous Vehicles will Transform the Future the Automotive Industry
Continuously developing wireless communication technology and cellular communications are building a strong foundation for the development of autonomous vehicle market. Analyst predict that growing applications and advancements in the light detection and ranging, artificial intelligence (AI) technology, and RADAR sensing are expected to drive the market for autonomous vehicles in the coming years.
As per the observations, companies in the industry are working together to come with an autonomous vehicle especially for passenger vehicles. For instance, Venti Technologies recently announced the successful deployment of two autonomous SUVs built by SAIC-GM-Wuling Automobile—the joint venture formed by SAIC and Wuling along with General Motors—achieving another milestone in the path to commercialization.
On the occasion, Founder and CTO Xinxin Du commented, “The successful autonomous SUV deployment is a key milestone for Venti and showcases the breadth of opportunities for our technology. Passenger vehicles require very nimble and precise operations. We are delighted to be moving forward with SGMW, a major mass volume producer of cars, microvans and other vehicles in China.”
When it comes to autonomous vehicles, passengers’ safety becomes first priority while designing and developing the vehicle. To improve the quality of vehicles, companies are seen performing strategic activities such as collaborations, partnerships, merger and acquisition, launch and patent for developed technologies etc.
Foretellix and VIRES, part of Hexagon, announced the collaboration to improve the effectiveness of autonomous vehicle safety testing through intelligent data-driven automation. In a statement Luca Castignani, Chief Automotive Strategist, MSC Software, part of Hexagon. said "Getting autonomous vehicles to market is a challenge that requires unprecedented collaboration across the ecosystem, especially to verify the safe operation of automated driving systems. Open data and continuous collaboration are absolutely paramount. We are happy to integrate our tools with emerging technologies such as Foretellix that can offer customers new ways to address these challenges".
Currently, almost all automotive companies are engaged to make safe and advanced autonomous vehicles. But, BMW AG, Daimler AG, Ford Motor Company, General Motors, and Tesla Inc. are few of the major companies that are dominating the autonomous vehicle market.
The research report by the Insight Partners state that the less developed infrastructure in the developing or under-developed economies is expected to challenge the growth of autonomous vehicle market. But the report also predicts that the advent of self-driving cars will have a long-lasting impact on the vehicle ownership infrastructure and the automotive industry in the future.
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.