We recently compiled a list of the . In this article, we are going to take a look at where Ford Motor Company (NYSE:F) stands against the other self driving car stocks. Advancements in artificial intelligence, data analysis, and machine learning are shaping how industries perform today.
These three technological advancements have enhanced the potential of autonomous vehicles and Advanced Driver Assistance Systems (ADAS). However, are the consumers ready to put their hands off the driving wheel and trust self-driving vehicles? Let’s explore how the autonomous driving industry is progressing with almost all major automotive manufacturers investing significantly to put their Full Self Driving (FSD) cars on the road. According to a report by Mordor Intelligence, the global autonomous vehicle market is valued at $41.
10 billion in 2024. The market is expected to grow at a compound annual growth rate of 22.75% to reach $114.
54 billion by 2029. The COVID-19 pandemic hindered the overall output of the automotive industry thereby delaying the production and roll-out of self-driving cars. In addition, increased government regulations to ensure road safety have also proved to be a barrier for automakers.
However, with significant improvement in software and hardware technology backed by artificial intelligence, we see automakers rolling out their Level 2 and Level 3 autonomous cars on public roads. For instance, on June 25 CNBC reported that Waymo a leading autonomous vehicle company, .