Original Article Published on Fortune.com
Concerns raised by the first reported fatality in a semi-automated car were expected to speed adoption of more sensitive technology to help vehicles see and drive themselves safely, increasing demand on the emerging autonomous vehicle technology industry, investors and analysts said.
Goldman Sachs forecasts the market for advanced driver assistance systems and autonomous vehicles will grow from about $3 billion last year to $96 billion in 2025 and $290 billion in 2035. More than half of that revenue in 20 years, Goldman estimates, will come from radar, cameras and lidar, a sensor that uses laser – all tools considered essential to building vehicles that can pilot themselves.
The May 7 death of Ohio technology company owner Joshua Brown in a Tesla Motors Inc TSLA -0.30% Model S while the car’s semi-automated Autopilot system was engaged highlighted the limitations of current automated driving systems.
Tesla’s Autopilot system uses cameras and radar, but not lidar. The company said its system would have had trouble distinguishing a white semi-trailer positioned across a road against a bright sky.