The race for the $5 trillion automobile market is on. The winners will be the leaders in self-driving technology and electric mobility. Apple is just one of many digital companies aiming to shake up the 130-year-old industry. This is an indication of how automobiles, like cell phones, will evolve into personal computers.
The Apple automobile, featuring an efficient battery and sensory technology, as well as assisted-driving capabilities, is expected to be released in 2024. The transportation business will be transformed by vehicular automation, making commutes more accessible to everyone. The potential for traditional costs connected with automobile ownership, driving, and taxi licensing to be reduced if automated electric cars (EVs) begin to perform the same roles as Uber or Lyft is enormous.
Insights on Apple Self Driving EV Market:
Traveling by Uber is cheaper for 25% of Americans than having a car, with typical transportation expenditures ranging from $1 to $1.5 per mile. Through the elimination of drivers and smart deployment techniques that optimize the profitability of each vehicle over its lifecycle, automated vehicles are anticipated to reduce such figures to under $1.
The frequency and severity of automobile accidents are projected to decrease as the number of self-driving vehicles grows. The human mistake was estimated to be the cause of 94 percent of automobile accidents in 2015 by the National Highway Traffic Safety Administration.
Such factors would be eliminated by technological improvement through automation, allowing advanced computer systems to manage traffic safety through complex sensory functions. This should ideally result in lower accident rates, insurance rates, and hospital costs. Drivers must remain vigilant despite growing autonomy until such cars can be trusted to execute without error.
Vehicles are likely to attain the level of sophistication required to run without human input in the near future, given rising automation software improvements. The increased mobility will first benefit the elderly and persons with disabilities, such as the visually impaired or those who are otherwise incapacitated. This is also true for youngsters. Accidents can be avoided by reducing the number of human drivers on the road.
Technology companies will undoubtedly differ from traditional automakers in that they will design cars from the ground up to work with their software rather than reducing their software to fit the limitations of conventional vehicles. As microchips in vehicles become larger, they can handle multiple processes simultaneously, and they will eventually be able to update their software over the air, like those used in Tesla vehicles.
Regulatory barriers have made self-driving technology advancement difficult, with states such as California requiring manufacturers to test their equipment in controlled environments and prohibiting autonomous vehicle services from charging fees for rides. Early regulations, on the other hand, will not deter businesses from investing in transformative technology. The costs of developing an autonomous vehicle far outweigh the costs of regulatory enforcement.
The world is ready for an autonomous vehicle revolution, thanks to a comprehensive national policy established under the Federal Automated Vehicles Policy. Automated vehicles, such as those being considered by Apple, will be available in the near future thanks to current technology.