Global Companies in different business sectors are forging alliances to get a piece of the action in the future car market.
LG Electronics announced on Jan. 9 that it signed an agreement with Microsoft to jointly develop software for artificial intelligence (AI)-based autonomous navigation software in Las Vegas, where CES 2019 opened on Jan. 8 (local time).
The two companies will collaborate in various fields -- AI-based advanced driving assistance systems (ADAS) such as multi-purpose forward cameras and driver monitoring cameras, voice-based vehicle infotainment system using virtual assistant solution accelerators, and AI learning and verification data processing using data box services.
Like LG Electronics and MS, companies are collaborating with those in different industries and even with their competitors for the purpose of entering the future car market. Naver Corp. and SK Telecom as well as Hyundai Motor are looking for partners in order to move into the future car market.
Naver is sharpening its competitiveness in autonomous navigation and robotics and AI by partnering with Qualcomm, Nvidia, and HERE. Apart from them, the Korean search giant plans to establish partnerships with Intel and several companies in the automotive and map industry. "Once partners are chosen in the field of autonomous navigation, we will start to develop high-precision map-based navigation software first and will commercialize it within the next three years," said Baek Jong-yoon, leader of Naver Labs.
SK Group is setting up a collaborative system among its mobility-related affiliates to advance into the global mobility market. The group believes that the commercialization of 5G will fuel demand for technology for advanced mobility such as electric cars and autonomous vehicles. SK Telecom introduced new technologies for autonomous driving based on 5G mobile telecommunications, including a high-definition (HD) map service that updates data in real time and 5GX technology that collects and analyzes data from various sensors. SK Hynix unveiled various memory solutions tailored to automobiles. Moreover, SK Innovation introduced total solutions ranging from materials for automotive batteries to the battery management system (BMS) for the electric vehicle (EV) market.
The Boston Consulting Group projected that the global autonomous car market would swell from US$42 billion in 2025 to US$77 billion in 2035. According to SNE Research, global sales of electric cars are expected to more than triple from 6.1 million units this year to 22 million units in 2025.