One of the industry leaders, Verizon Communications Inc (NYSE:VZ) lately invested in an autonomous vehicle startup Renovo Auto, which happens to be a company set up in 2010.It has made a name for itself after it succeeded in the conversion of a vintage DeLorean into a self-driving car.
The latest investment which was worth $10 million is among the few the provider has made in “telematics”-the fast growing field focusing on quickly filling the gap between the traditional transportation and the automated communications software.
A number of top reporters moved to the provider seeking to obtain a statement regarding how much from the $10 million emanated from its capital arm Verizon Ventures as well as what exactly came from the rest of the sources. It was all in vain since Verizon declined to commend on reasons best known to it.
Depending on what the inevitable regulations will require as the self-driving cars become more common as well as on the general way in which the market unfolds, the amount of data generated will as a matter of fact experience major expansions in terms of growth.
According to the company’s top executives, the Autonomous vehicles are expected to use GPS data and sophisticated videos to operate effectively. According to some top reliable sources, the autonomous vehicle is thought to generate about 4 terabytes of data in 90 minutes, which is in itself a reflection of average amount of time Americans spend in a car every day. The enormous data output is a perfect representation of an equivalent of 3,000 people’s Internet usage spread out over a period of three years.
The nation’s largest wireless carrier over the years has been known to usually showcase great abilities when it comes to matters to do with transportation and technology. Verizon is said to have broken new ground and that is of course in regards to its 1996 unveiling of the OnStar with General Motors, which is as a matter of fact the first in-vehicle communication system that made it possible for the different drivers to communicate with operators during those instances of emergency. Much has already taken place to this moment, but whatever the future has in store for us is something we just have to wait and see.
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