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Mobileye’s Chinese head Su Shuping predicted that demand for the company’s advanced driver assistance systems (ADAS) will skyrocket in China in the next few years, reported Bloomberg. ADAS such collision warning and lane change warning systems are becoming more common in vehicles, and Chinese regulators are expected to finalize rules soon for how such systems can be used.
These systems are often considered a stepping-stone to fully autonomous cars because they leverage the same types of technology including sensors, cameras, and algorithms.
Mobileye provides camera systems that monitor the car’s surroundings to detect potential obstacles in its environment. Its systems can be used for ADAS and for fully autonomous driving systems. For example, Mobileye recently announced a partnership with Intel and BMW to develop self-driving cars using its technology.
China has more than 200,000 traffic fatalities per year, according to the World Health Organization. Assisted driving systems can help reduce the overall number of car accidents. Citic Securities, a Chinese investment bank, said that ADAS will be mandatory in cars in China by 2018, driving the market for these systems to reach $30 billion in 2020.
John Greenough, senior research analyst for BI Intelligence, Business Insider’s premium research service, has compiled a detailed report on self-driving cars that examines the major strides automakers and tech companies have made to overcome the barriers currently preventing fully autonomous cars from hitting the market. Further, the report examines global survey results showing where fully autonomous cars are highly desired.
Here are some key takeaways from the report:
- Three barriers have been preventing fully autonomous cars from hitting the road: 1) high technological component prices; 2) varying degrees of consumer trust in the technology; and 3) relatively nonexistent regulations. However, in the past six months, there have been many advances in overcoming these barriers.
- Technology has been improving as new market entrants find innovative ways to expand on existing fully autonomous car technology. As a result, the price of the components required for fully autonomous cars has been dropping.
- Consumer trust in fully autonomous vehicle technology has increased in the past two years.
- California became the first US state to propose regulations. California’s regulations stipulate that a fully autonomous car must have a driver behind the wheel at all times, discouraging Google’s and Uber’s idea of a driverless taxi system.
In full, the report:
- Examines consumer trust in fully autonomous vehicles
- Identifies technological advancements that have been made in the industry
- Analyzes the cost of fully autonomous technology and identifies how cost is being reduced
- Explains the current regulations surrounding fully autonomous cars
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The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the emerging world of self-driving cars.