By Citi GPS,
January 11, 2019Posted InCiti
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As vehicle technical advances progress, how close are we to ditching personal cars?
If you were asked to think outside the box and give your vision of the future, there are two things you would need to do. First, you would need to categorize those things that you think will stay constant throughout time, next, you would think of those things that will change. On the constant side, you may believe you’re always going to live in a house-like structure on land versus living underwater, or that you’re always going to wear clothes and not a digital outfit projected from your cell phone. On the change side, however, you probably have a mix of things you envision could be improved in the future.
Looking back at old futuristic movies and television shows, the creative people who made them did those same two things. Interestingly, most believed how we were going to traverse this planet would be vastly different. Be it some type of Star Trek transporter that digitizes your molecules and sends them hurtling through space, or a personal spaceship that you use to commute, the future thinkers in Hollywood didn’t start their shared vision resigned to the idea they would be jumping in a car and driving themselves to their next destination.
So how close are we to ditching our personal cars in the future? While we may not be up to personal flying taxis yet, it does seem that reality may finally be catching up with the hype. A handful of companies are pursuing various level-4 RoboTaxi services (where the car is totally in control and humans are just passengers) to build urban rideshare networks in the coming one to three years. These are being planned for cities and surrounding suburbs, and the race to launch and commercialize these RoboTaxis is all about building a powerful network effect. This network effect is determined by who can introduce and scale safe, reliable, fast, and low-cost urban RoboTaxi fleets.
But there’s more to come. Around 2020-2021 we expect to see more autonomous vehicle (AV) features sold on personal cars — like vehicles that can drive themselves on highways — and offered in the same way advanced safety options are today.
So which industries and companies could be the potential winners and losers of these developments? To find out, click here to read the full Citi GPS report: The car of the future.