With cruise control, automatic wipers, and proximity sensors, the average automobile has developed intelligence and automation over the decades. However, in the last few years the autonomous vehicle trend has experienced a boost, as the miniaturization and cost reduction of computers and sensors enable cars to more quickly detect and react to their environments and help the human drivers operate safely. Though many companies may be hesitant to completely yield control of their cars to computers, the fact remains that from a technical standpoint, fully autonomous vehicle is projected to be the new trend in future.
An Edge of Revolutionary Change
For the past hundred years, innovation within the automotive sector has fueled major technological advances, leading to safer, cleaner, and more affordable vehicles. But for the most part, since Henry Ford introduced the moving assembly line, the changes have been incremental as well as evolutionary.
In the early decades of the 21st century, the industry appears to be at the brim of a revolutionary change—with potential to dramatically reshape not only the competitive landscape but also the way we interact with vehicles, and indeed, the future design of roads and cities. The new transition is expected to be imminent and be marked by the advent of robotic vehicles.
The Future Impact of Autonomous Vehicles on our Day-to-Day Lives
In the next few years, we would see robotic cars plying on the streets. Like any new technology, robotic cars will be more of a novelty than a utility. However, this adoption of this technology is projected to be significant, especially in the early years of humans commingling with self-driving cars (SDCs)
The transition to robotic cars will be rapid owing to the benefits of these cars and the projected increase in their supporting technology infrastructure.
Pillars of Robotic Cars
So, what difference will the future car bring about in 2050? One way to visualize the future of transportation is to consider the impact of autonomous cars on transportation and, consequently, our lives, based on the following three points.
- Affordability: Low-cost short- and long-distance travel.
- Experience: Enjoyable, exciting travel experiences, in which the car becomes a living room on wheels.
- 3. Adaptability: Easily reconfigured interiors for customizing affordable travel experiences.
The Future Car – Enabling a Living Internet
The current internet experience is available at low-to-no cost and can be easily customized as per individual preferences. The robotic car is a living example of living internet version, where a physical experience seamlessly merges with the familiar virtual experience of the internet today.
The future car and its surrounding infrastructure is expected to provide a customizable and affordable travel experience. This will significantly impact our day-to-day lives. Smaller pods will be used for personal transport or expanded for family travel.
So, Says a Study
According to a recent report published by Allied Market Research, titled, “Autonomous Vehicle Market by level of Automation, Component and Application: Global Opportunity Analysis and Industry Forecast, 2013–2020”, the robotics technology market is expected to reach $82.7 billion by 2020, registering a CAGR of 10.11% during 2019—2026. The global autonomous vehicle market is expected to reach $557 billion by 2026, growing at a CAGR of 39.5% (2019-2026). Autonomous vehicles also known as self-driving vehicles use artificial intelligence (AI) software, light detection & ranging (LiDAR), and RADAR sensing technology, which is further used to monitor a 60-meter range around the car and to form an active 3D map of the current environment. The vehicle is designed to travel between destinations without a human operator.
Access full summary at: https://www.alliedmarketresearch.com/robotics-technology-market
A smooth transition from today to this much safer future world will require new laws and regulations regarding how pods are developed, tested, and licensed. The business model of insurance companies will change from drivers paying for individual coverage systems to service providers purchasing insurance to protect against revenue-losing technical failures. Eventually, autonomous vehicle is expected to be a reality with reliable robots driving us back home in the near future.