Tesla Crash could Boost Self-Driving Vehicle Startups’ Valuation
The first reported death in a semi-automated car led to the possibility of accelerated implementation to more advanced sensitive technology to ensure that vehicles can see and self-operate themselves with higher safety levels. This expectation is likely to boost the demand for the innovative independent vehicle technology industry, according to investors and analysts.
Ohio technology company owner Joshua Brown lost his life in a fatal accident on May 7 in Tesla Motors’ Model S while the semi-automated Autopilot system of the car was operational. This has drawn attention towards the drawbacks of the existing automated driving systems.
The Managing Director of Silicon Valley-based investment firm AutoTech Ventures, Quin Garcia, suggests that certain self-driving startups might witness an increase in their valuation if they can provide solutions for certain concerns that have been raised by Tesla accident.
The value of the advanced driver assistance systems and autonomous vehicles segment is forecast to move from approximately $3 billion in 2015 to $96 billion and $290 billion in 2025 and 2035 respectively by Goldman Sachs.
It also estimated that over 50% of that revenue over the 20-year period will be generated by radar, cameras and lidar, which is a sensor that uses laser. All these tools are necessary for developing self-driving vehicles. While the Autopilot system of Tesla does use cameras and radar, it does not use lidar as of now.
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