Google to profit from self-driving cars by decade's end

Google stands to rev up substantial revenue from self-driving cars.

The search giant is likely to gain whether it creates the hardware for self-driving cars or simply license the necessary software to automakers, Piper Jaffray's Gene Munster said in an investors note released Tuesday. Either way, revenue from this burgeoning sector should start to ramp up for Google before the decade is over.

"We believe the utility of reducing auto deaths and idle time in traffic add up to a $200+ billion opportunity in autonomous vehicle technology," Munster said. And the analyst sees Google as the "best positioned Internet company over the next ten years" to profit from the technology.

outing the benefits of driverless cars, Munster noted a study from the National Highway Traffic Safety Administration that cited around 32,000 deaths in 2011 due to car accidents. That number showed a significant drop from prior years, but the analyst clearly believes it could be further reduced through self-driving cars.

Another study from the Texas A&M Transportation Institute found that Americanswasted 5.5 billion hours in 2011 stuck in traffic, resulting in $121 billion in lost time and fuel. Driverless cars could potentially cut down on all those traffic jams...

Read the full story here. Source: CNET

Volvo plans self-driving cars in 2014, envisions accident-free fleet by 2020

Long hailed as one of the safest car producers in the world, Volvo hopes to retain that reputation by introducing vehicles that can avoid passenger injuries on their own by the year 2020. Its plans hinge on eliminating the largest cause of road accidents -- the drivers themselves. The head of development for the program is convinced that driver-less cars are the future and that Volvo will be the first one there. The main technology underpinning Volvo's autonomous automobiles is wireless internet, which would enable each car to be assigned a certain point on the road and give different vehicles the ability to interact with each other. The company is preparing to release an initial batch of autonomous vehicles, capable of speeds of up to 31 miles per hour, in 2014. We know from the SARTRE projectthat the automaker has been able to achieve autonomous speeds of 53 miles per hour in traffic for long distances, though they aren't disclosing when those higher-speed prototypes would be publicly available.

[Source: Enadget]