Whether the thought of autonomous vehicles fills you with excitement or anxiety, the future of driverless cars is here. The world’s largest car manufacturers have partnered with top tech companies such as Apple, Intel and Google to drive forward a new era in the automotive industry.
The implications are far-reaching. Here’s our list of the 3 changes we expect to see:
1. Expansion of the Mobility As A Service (MaaS) Market
Once an afterthought, car rental companies and courtesy car providers will make car sharing and ride hailing an integral part of their product portfolio. This shift in services is more than just a change in offerings, but a movement in mindset. As cars become driverless, automotive businesses will need to consistently re-evaluate their processes.
2. Greater Focus on Technological Research and Development
Your car is a computer. With the ongoing integration of applications into vehicles, smart fleet managers will invest in technological research to develop more efficient, connected systems. Companies who link their software with their vehicles to customer hardware can stand out in a crowded market.
3. Increased Legislation on Vehicle Ownership
The thorny issue of liability will become even more complicated. The legislation around autonomous vehicles has yet to catch up to the technology. Rental car companies should prepare to overhaul insurance policies for cars with no drivers. If the driver is not at fault, then who is? The driverless future means one with fewer traditional vehicle owners and a wave of new laws.
For those who embrace change, the shifting market offers great opportunities to those in the automotive industry.