Autonomous Driving Could Explode Soon

autonomous driving
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Autonomous Driving Could Explode Soon

The semiconductor industry is huge, and the promising outlook for autonomous driving is a potentially big tailwind for some chip makers. 

The global autonomous vehicle market is expected to reach over $550 billion by 2026, according to Allied Market Research. That exact number varies depending on the research hub, but many reports say the growth should be explosive. Research and Markets says autonomous vehicle sales could grow by over 40% yearly through 2026, when the total market would hit over $600 billion. 

Let’s sort through the different players in semiconductors that could benefit. 

Nvidia (NVDA – Get Report) and Intel (INTC – Get Report) are making “the brains” behind what powers an autonomous vehicle, TheStreet’s Tech Editor Nelson Wang said. Nvidia is expected to see about 7% of its revenue in 2020 come from its automotive segment. Intel in 2017 acquired Mobileye, a maker of sensor and camera chips for cars. Intel doesn’t break out its automotive revenue. And Qualcomm (QCOM – Get Report) makes modem chips that power a car’s ability to connect to the internet. 

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Autonomous Driving Could Explode Soon