An autonomous vehicle is a type of vehicle that can guide itself without information from a human driver. There are several kinds of self-driving vehicles, relying on their level of automation. This article discusses autonomous vehicles, how Autonomous vehicles can change the revolution of transportation, and their market value.
What is an autonomous vehicle?
An autonomous or driverless vehicle can drive itself and perform required tasks without human intervention through its ability to sense its surroundings. Autonomous vehicles (AVs), sometimes also referred to as self-driving cars or automated vehicles, are a category of automobiles in which some or all driving choices are made without a human.
An autonomous vehicle is “autonomous” because it uses sensors to get a picture of its operating environment and can make driving decisions based on that data without the intervention of a human operator.
Although some assume that autonomous vehicles only drive themselves, The Society of Automotive Engineers (SAE) defines six categories of autonomous driving, ranging from low-level assistance to a human driver to complete autonomous vehicle control.
How can autonomous vehicles change the revolution of transportation?
Autonomous vehicles can change how we approach ownership and rebuild our cities, improving well-being and accessibility and increasing safety. AV is one of the most revolutionary changes in transportation. In this case, it is a vehicle without a steering wheel, pedals, or human intervention.
AVs, also known as self-driving or robot cars, log thousands of miles yearly to test America’s roadways. And not just in science fiction movies and cartoons, AVs are becoming a reality. A mix of technology companies, automobile manufacturers, and start-ups are racing to develop these vehicles.
We know many companies like Apple, Google, Uber, Ford, GM, Tesla, and Volkswagen. Autonomous vehicles will also increase the accessibility of travel for people who otherwise could not drive, such as people with epilepsy, people with poor vision, or others with impairments.
A major benefit of autonomous cars is that commuting hours can be used for other tasks, such as leisure or work. Instead of the stress of being stuck in traffic, drivers could read, talk with friends/family, surf the internet, or even sleep.
How are growing global autonomous vehicles markets?
According to Globe News Wire, the global Autonomous vehicles market value was USD 25.15 billion in 2021. It is expected to reach USD 197.30 billion by 2030, registering a 25.75% compound annual growth rate from 2021 to 2030.
Key companies
Some prominent global Autonomous vehicles market players include Toyota, Volvo Car Corporation, Nxp Semiconductors, Waymo, Daimler Ag, Audi AG, Ford Motor Company, and Google LLC.
