A self-driving car is one that can sense its surroundings and operate without the need for human intervention. A human passenger is not necessary to take control of the vehicle at any point, nor is a human passenger required to be present in the vehicle at all.
But what is the scenario of driverless cars?
Global Market for Automated Cars (According to Region)
Below is a representation of the autonomous vehicle market in terms of geography. According to the representation, the European region would exhibit the highest CAGR of 42.6% during 2019-2026.
The global autonomous vehicle market is expected to be worth $54.23 billion in 2019 and $556.67 billion by 2026, representing a CAGR of 39.47 per cent between 2019 and 2026. Artificial intelligence (AI) software, light detection and ranging (LiDAR), and RADAR sensor technology are used in autonomous cars, also known as self-driving vehicles.
25% of the total cars sold in 2035 are projected to be autonomous vehicles comprising 15% partially autonomous vehicles and 10% fully autonomous cars.
Below is a representation of the global market for automated cars in 2019 as compared to 2026. The market would grow and would engage a much greater proportion of the population, leading to higher returns on its sale.
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Pros of Automated Cars
- Reduction in traffic deaths: Deaths caused due to vehicle crashes would be reduced with the use of driverless cars due to the use of the advanced system installed. Moreover, as the cars would be self-driven they would not stop unnecessarily causing traffic.
- Improvement in Fuel Economy: According to Rand’s Autonomous Vehicle Technology guide, self-driving cars will provide a reduction in fuel economy by between 4% and 10%. This would lead to efficient utilization of fuel, which is a much-limited resource.
- Enhanced Safety: Roads with a high number of self-driving cars will be safer: This is because the reaction times of driverless cars will be faster than driver-full cars and the layers of car sensors and software will constantly be working to minimize any potential dangers. Furthermore, if all of the cars are connected to the same digital driverless car network, they will be able to communicate with one another and 'know' where and what the other driverless cars are doing.
- Greater Efficiency: Building on the concept of a driverless automobile network, more vehicle integration would allow them to be linked to road infrastructure such as traffic lights. Consider what would happen if all of the automobiles in the network could travel around the city at high speeds and on routes that avoided bottlenecks and traffic jams.
- Lead role in the time of emergency: Driverless cars could pull over for emergency service vehicles, knowing when they are on their way. Areas well-served by bus routes could have a lower priority for driverless cars so that these roads experience less congestion and prioritized driverless vehicle capacity for areas less well-connected to the existing public transport infrastructure.
- Reduced motor vehicle fatalities: Driverless cars are machines that would be able to repair themselves on the spot even in case of motor fatalities. This would lead to a reduction in the number of accidents caused by machine malfunctioning.
Cons of Driverless Cars
- Job loss in the transportation sector: One of the major setbacks for driverless cars is that they take away the jobs of millions of people who are dependent on the transportation sector. India’s transport sector is as large and diverse as it caters to the needs of 1.1 billion people. In 2007, the sector contributed about 5.5 per cent to the nation’s GDP, with road transportation contributing the lion’s share. In such a nation, driverless cars will cause huge harm to a great percentage of the population.
- Vulnerable to hackers and cyber threats: Self-driven cars are potentially vulnerable to hackers and cyber threats. If the machine is hacked then it would lead to a major problem for the traveller.
- Dangerous during inclement weather: During the rainy season, it would be very dangerous if the system of the automated car gets affected as it would lead to malfunctioning of the car.
- Difficult to determine fault: Sometimes if there is a huge fault in the system, it would be difficult to get it auto corrected and would lead to human assistance.
Driverless Cars- A Distant Dream for India
KPMG’s report titled ‘2020 Autonomous Vehicles Readiness Index (AVRI)’ assessed and ranked 30 countries based on 4 parameters – policy and regulations, technology and innovation, infrastructure, and consumer acceptance. India ranked last in consumer acceptance and stood just above Brazil in the availability of the infrastructure required to popularize driverless vehicles.
India stood at the penultimate position for preparedness to adopt autonomous vehicles (AV) owing to poor infrastructure, technology and regulations. The implementation and usage of driverless cars have been deferred in India on account of the potential job loss of 2.2 million commercial drivers across the country, the report stated.
India's government is prioritizing the development of electric vehicles (EVs) before tackling autonomous vehicles (AVs), despite the fact that this offers its own set of issues.
Conclusion
The autonomous vehicles market is expected to be worth $556.67 billion by 2026. Self-drive cars would provide consumers with a bunch of services and facilities in terms of new technology. It saves time and effort that one has to put in as well as reduces the rate of accidents.
The global market for driverless cars has great potential.
In India, people are excited about the launch of self-drive cars. 86 per cent of Indian respondents were second-most excited about driverless cars. However, driverless cars are still a distant dream for India.
Self-drive cars have many advantages and disadvantages. One of the major disadvantages of the implementation and usage of driverless cars have been deferred in India on account of the potential job loss of 2.2 million commercial drivers across the country.
Many companies across the world are working hard towards achieving fully automated cars. Indian startups have also taken initiatives to launch driverless cars in the market where users can take the backseat.
Written by- Srishti Kumar
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