Digital maps have been of great assistance, no doubt about that. And their technology has been improving. But, major breakthroughs are about to come, CNN Tech claims.
The tech companies as well as automakers are investing big money into a new generation of digital maps. These maps go beyond giving directions by including traffic signals, road lines, street signs, and potholes all the way to the smallest detail. All these details are needed as there’s a new audience for these maps: the upcoming self-driving cars.
For these autonomous vehicles, these maps won’t be an optional feature but a requirement. And this produces huge profit potential for companies providing such maps as it is possible that a subscription model will be used. This can bring billions of dollars in revenues, but will take time before it happens.
The issue here is that developing such detailed and real-time maps will take lots of time and efforts.
Google is among the many companies working on developing these maps. No wonder, Google already has lots of experience in this area. When it comes to automakers, Ford is working on developing its own maps, while General Motors decided to use a third-party provider.
Other automakers such as BMW, Volkswagen, and Nissan have signed deals with Mobileye to deliver maps at the beginning of 2018. Not long ago, Mobileye was acquired by Intel for $15 billion.
Would consumers be happy with another subscription service? That is yet to be seen, but these self-driving vehicles certainly will have their own appeal to the masses.