The world of autonomous vehicle startups has been on the rise ever since Elon Musk announced his intent to create Tesla, a company that produces innovative and fully electric cars.
Big names like Uber and Alphabet have invested in this emerging field. It seems like there are lots of ways to get involved: from chipmaker Intel to navigation app Waze to mapping software HERE. Even as an individual it is possible to get involved you can invest at home or work on your own startup by partnering with other companies, universities, and research institutes. The possibilities for autonomous vehicle startups seem to be endless.
Cooperating industries are creating demand
It is beneficial to work together with other industries since the demand for innovative solutions will only increase in the years to come. For example, in the case of vehicle sharing services such as Uber or Lyft, self-driving cars would cut down costs and further investment in research will be required by traditional carmakers. With all these innovations taking place, there is no doubt that we are entering a new era of transportation.
New vehicles to solve old problems
Cars have been around for quite some time. In the next few years, autonomous vehicle startups will be coming out with solutions to solve some of the oldest problems with self-driving cars. A lot of people still have issues trusting a computer system’s driving decisions. This is why vehicles need to become more like elevators they need to be completely transparent and the user needs to be in full control of their actions at all times, otherwise, it will never gain traction. It is also important to point out that a lot of these autonomous vehicle startups are majority-owned by big players such as Baidu, Google, and Apple. These companies are the ones that will most likely lead the market with this new concept.
The question remains: how will they make money in the end? A lot of companies have already tried to disrupt this market, but haven’t managed to establish themselves in the long term. However, there is one factor that will play into their favor: data. For example, Google and Apple are both capable of creating strong ecosystems for their users and owners of their devices. This will be a huge advantage in the long term. Since they already have existing platforms, the ultimate goal would be to keep the users within their ecosystem and have them purchase services at every turn of the road. This is great news not only for Google and Apple but for every other player in this industry as well.
Autonomous vehicle startups are also capable of building a great number of new innovative and potentially life-saving products. For example, there have been many cases when the driver was drunk or simply not paying attention to the road and crashed the vehicle. This is why autonomous vehicles can greatly reduce accidents along with saving lives.
Each of these companies will be much more attractive to consumers and investors if they develop their own tech which could replace systems from other manufacturers. For example, Alphabet may decide to design its own self-driving cars instead of partnering up with BMW or Mercedes. This will allow the company to further expand and diversify its products and services.
How can you get involved?
At the end of the day, there are a few things that consumers need to understand: the safety and reliability of autonomous vehicle startups will only improve over time. It is also important to realize that these companies are still in the development stage and there is a lot of work yet to do.
Investors are excited about autonomous vehicle startups and this is why they are willing to invest in them. The best time to join this industry seems to be now — so don’t miss out. Investing in a company will not only expand your portfolio but also make you closer to people and companies who have been working in this field for years.
It is a great time to collaborate with other people and push your ideas forward. The best part is that you don’t have to become an engineer or even get involved in the actual development process. You can simply choose which company makes sense for you and your business.
It is well known that there are new companies and startups emerging every day in the field of autonomous vehicles. This is why investors should not get too complacent and allow it to get lost in the shuffle. At a time when these ideas can change the way we use transport, it is important to stay up to date and forward-thinking.
As humans, we still have a long way to go before fully automated driving becomes a reality.