as declared in Timothy Carone, a Notre Dame University academic, said: “Major players are finding ways finding ways to position themselves for a change as seminal as the personal computer revolution.”
Image copyright MobileyeUS chipmaker Intel is taking a big bet on driverless cars with a $15.3bn (£12.5bn) takeover of specialist Mobileye.
Intel expects the driverless market to be worth as much as $70bn by 2030.
Technology companies are racing to launch driverless cars.
Intel will pay $63.54 a share in cash for the Israeli company, which develops “autonomous driving” systems.
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Intel’s $15 billion purchase of Mobileye shakes up driverless car sector
The market for self-driving technology is becoming crowded, including mapping company Here, as well as technology companies ranging from Alphabet Inc’s Waymo to Chinese Internet giant Baidu.
Investment analysts on Monday raised concerns about the potential synergies between Intel and Mobileye, as well as the acquisition’s price.
Shares of systems integrator Delphi Automotive, which has partnerships with Intel and Mobileye, rose 4.0 percent.
Intel has not been a significant player in the sector, although it has invested in at least half a dozen start-up companies developing different components for self-driving systems, from robotics to sensors.
Last year, Goldman Sachs projected the market for advanced driver assistance systems and autonomous vehicles would grow from about $3 billion in 2015 to $96 billion in 2025 and $290 billion in 2035.
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Intel buys Mobileye for $15.3 billion in bid to lead autonomous car market
Faced with an existential threat to its legacy computer business, Intel — alongside competitors such as Qualcomm — has focused on autonomous cars as a potentially lucrative market.
The chipmaker was a partner with Mobileye and BMW last year over efforts to bring autonomous cars to city streets by 2021.
In January, the companies announced plans to have up to 40 autonomous cars on American and European roads by the end of this year as part of initial trials.
AdvertisementAnd in a $15.3 billion deal announced on Monday, Intel made a play to corner the market on how much of that technology is developed.
NEW YORK — In the world of driverless cars, household names like Google and Uber have raced ahead of rivals, building test vehicles and starting trials on city streets.
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