Some analysts believe the market for autonomous ride-hailing platforms could be worth $1 trillion per year by 2030. In this Backstage Pass clip from “The AI/ML Show” recorded on Jan. 12, Motley Fool contributor Trevor Jennewine examines this piece of the potential market and more with the help of a chart from ARK Invest.
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Trevor Jennewine: This slide shows the market potential that we’re dealing with. This is from ARK Invest again, and this timeline take it with a grain of salt it may not materialize like this, but by 2030, ARK believes that fleet owners for autonomous vehicles will be raking in $70 billion in operating profits per year. Auto manufacturers and autonomous tech providers will be raking in $250 billion in annual operating profits. Then the autonomous ride-hailing platforms, so think Uber, except autonomous, will be making over a trillion dollars in operating profits per year by 2030.
Whether or not this timeline holds up we’ll see. At some point, I certainly believe the industry will reach this level at some point, but it is a massive space big opportunity here. It’s one that I’m very interested in and I’m excited to learn a little bit more about Cruise [General Motors] and Nvidia.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
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