Driverless Cab Service Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Albany, NY -- (SBWire) -- 05/08/2018 --Driverless vehicle also known as autonomous cars has now become a reality. The technology of driverless car is presently being tested on roads by technology corporations in order to have a first mover advantage. Most of the autonomous vehicle present in the market are considered partially or highly automated that may require some form of human intervention. An autonomous vehicle is embedded with an advance computational system, Global Positioning System (GPS), sensors and monitoring system to recognize any dynamic conditions on the road. The GPS embedded in the cars uses array of technology including cameras and radars to detect the variables that surround the vehicle. The radar provides a clear picture of the area up to a limited distance during harsh climatic condition such as rain, snow or during any other vision impairing situations.

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Moreover, the laser system continuously scan the surrounding and provide the monitoring system with a three-dimensional, omni-directional view of the road ahead. Advance sensors are also the integral part of this system. These sensors provide raw information about the nearby surrounding, precisely the information may be about the position of other vehicles such as their navigation course, speed, distance which help in smooth navigation of the vehicle. The monitoring equipment and advance computational system are also equipped with technology in order to process the input from GPS and other sensors and utilize it for taking corrective actions such as accelerating, steering or applying breaks wherever necessary.

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Automated vehicle technology is expected to get largely implemented in cab service market in coming years. The driverless/automated cab service is expected to drastically reduce the number of accidents per year and would eventually lead to cost savings in terms of healthcare spending. The technology is expected to further improve the prevailing traffic condition and congestions in the cities. Advance GPS system used in the automated technology will help passenger to follow short route to reach their destination henceforth reducing the journey time. Car theft is another major issue that could be limited by the driverless technology, since these cars would be self-aware about the prevailing situation. The driverless cab service fare charges would be less as compared to current cab services since the labor cost can be eliminated which would eventually decrease the burden on end-users. The automated technology is also expected to get implemented in public transportation including buses.