Softbank looks to proceed onward with Indian mobility sector
Published Date | 2019 August 8
Japanese multinational conglomerate company makes inroads into rentals and autonomous driving after ride-hailing which will propel the autonomous vehicles market
India: SoftBank is thoroughly assessing the mobility sector in India, comprising the two-wheeler mobility space. After dominating investments in the ride-hailing space globally with bets on market leaders Uber, Grab, Didi Chuxing and Ola, the firm has made inroads into forthcoming segments like rentals, autonomous driving and even asset management firms globally, a trend that could also play out in the India market, which is the largest two-wheeler market in the world, Softbank’s move beyond ride-hailing could be a bet on the developing two-wheeler rentals business. Softbank’s interest in the new mobility space can be evaluated through its two investments in peer-to-peer car rental service Getaround and vehicle leasing platform Fair, both in the US. Soft-Bank invested $300 million in Getaround, followed by leading a $385 million investment in Fair.
According to Blueweave Consulting, the global autonomous vehicles market is going to witness tremendous growth during the forecast period. Owing to Increasing safety concerns and innovations in automotive technologies. It has led to market penetration and acceptance of autonomous vehicles by governments of various countries such as the U.S., India, China, and Japan. Additionally growing smart cities and connected infrastructure initiatives by the government of various countries has led to an increase in internet connectivity, road infrastructures, and highways, which is anticipated to fuel the global autonomous cars market. Technological advancements are enforcing manufacturers to invest in R&D which is accelerating the demand of the industry. The cumulative growth in safety concerns, as the number of road accidents, is a constant rise, especially in developing countries. Various governments work towards reducing fatalities due to road accidents & increase the safety standards in vehicles.
According to BlueWeave Consulting’s Reports “Autonomous Cars Market, By Level of Autonomy (Level-1, Level-2, Level-3, and Level-4), By Type (Internal Combustion Engine (ICE), Hybrid Electric Vehicle (HEV), and Battery Electric Vehicle (BEV)), By Components (Artificial Intelligence (AI),Radar, LIDAR, Camera and Ultrasonic Sensor), By Region (North America, Europe,Asia Pacific, Middle East & Africa and Latin America), Trend Analysis,Competitive Market Share and Forecast, 2015-2025” The autonomous vehicle is also known as self-driving vehicles use several sensors like LiDAR and RADAR systems, working concurrently to carry out operations automatically or without the help of drivers. These cars rely on a combination of advanced vehicle systems like an unconventional emergency braking system, comprehensive vehicle tracking systems, remote-controlled systems, and advanced vehicles to everything connectivity. The move towards self-driving cars is relentless. The autonomous car market is propelled by the supportive regulatory outline, government funding, and investments in digital infrastructure. These systems are expected to be nascent technological developments boosting the growth of the autonomous car market during the forecast period.