Alphabet Inc (NASDAQ:GOOGL) is on the right track with its self-driving technology according to research by IHS.
According to the market research firm, Google’s approach on the subject of autonomous driving will most likely to have a huge impact in the future. Most automobile companies are currently working on autonomous driving technologies because it is the promise of the future. However, Google has the advantage of years of accumulated knowledge on software technologies, and the firm has already invested roughly $60 million in research and development.
The company has also been testing out the autonomous driving technology that it has already created. IHS also stated that Google has more advantage because of the other technologies that it is running in different projects. They include robotics and artificial intelligence among others. The research firm claims that these technologies can be used to push further research as part of developing the self-driving technology.
IHS senior research director Egil Juliussen stated that Google is the only company with unique and advanced technology that can be used to push autonomous vehicles into new horizons. He also added that Self-driving cars drive better than most human drivers as long as the weather is conducive. Google plans to launch the project for public use by 2024 through CaaS. The latter is a short form for Car-as-a-service that represents Google’s strategy for future transportation within urban areas in the future. The project will leverage different technologies including maps, software and technology infrastructure.
Google’s estimate to launch the technology in 5 years might seem like a tall order. IHS believes that driverless CaaS will officially become a reality in the next ten years. The project is expected to drastically reduce the cost of transportation since no drivers will be required. It will also be advantageous for people who do not have driving licenses. IHS estimates that 85% of people in the world do not have a driver’s license.
The market researcher also estimates that about 12 million autonomous vehicles will occupy the roads by 2035. However, more automotive firms have adopted the concept. Therefore, a lot of research and development is expected over the next few years. The estimates could, therefore, be under sided.
Sources: forbes, techeye
