The global automotive industry – worth $3.5 trillion in annual revenues – faces four concurrent disruptive threats: the connected car, the electric vehicle, autonomous driving technology and the concept of transport-as-a-service.
Each threat is potentially existential to legacy carmakers who operate in a low growth, low margin sector that rattles with over capacity, and which is seeing its supply lines reset by cumulative advances in enabling technologies typically deployed by Tier-1 automobile sub-system suppliers.
More than 40 companies are currently developing the brains for self-driving cars using advanced sensor-fed machine learning algorithms.
Global car manufacturers Ford, General Motors (GM) and Toyota have agreed to establish a consortium to focus on the safety of self-driving cars in association with the automotive industry group SAE International.
There remain serious technology challenges ahead of autonomous vehicles. But vehicles continue to become increasingly aware of their operating environments, thanks to 3D cameras, radars, lasers, and sensor fusion. They are also becoming increasingly informed and intelligent, thanks to ultra-fast computing enabling operational agility, advanced predictive analytics and machine learning.
GlobalData’s Autonomous Vehicles – Thematic Research report focuses on autonomous driving technology.