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Alphabet's (GOOGL) Waymo Provides Free Wi-Fi in Robotaxis
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Alphabet’s (GOOGL - Free Report) self-driving unit, Waymo is leaving no stone unturned to bolster presence in the autonomous driving space.
Reportedly, Waymo plans to provide users with complimentary Wi-Fi service in its robotaxis in the Phoenix area.
The latest move gives a glimpse into Waymo’s efforts to lure customers for using its self-driving taxis.
Last December, Waymo had unveiled its first paid self-driving taxi, Waymo One, in Arizona. Currently, it serves people in the suburbs of Phoenix, namely Chandler, Tempe, Mesa and Gilbert.
Since then, the company has been making sincere efforts to grab share and make profits in this space. In this regard, Waymo launched ad-free music streaming for passengers through Google Play Music in late April.
In addition, it has installed a child car seat in every minivan and ensures a soothing temperature in all its vehicles.
With such attractive services, the company intends to explore opportunities beyond ride hailing services on the back of robust self-driving technology and artificial intelligence techniques.
Such enhanced services, maybe in the long term, are going to aid its revenue generation, which will in turn drive top-line growth.
We believe growing autonomous driving initiatives are likely to aid Alphabet to penetrate into the global self-driving car and truck market.
Per Grand View Research, this market is projected to witness a CAGR of 63.1% between 2021 and 2030.Further, per Zion Market Research, this market is expected to witness a CAGR of 25.7% between 2018 and 2024, and hit $26.58 billion by 2024.
The company’s strong endeavors toward enhancing the self-driving service with commercial autonomous driving cars, trucks and taxis will continue to drive growth.
Gaining Competitive Edge
Immense growth opportunities in this autonomous vehicle market are luring enough to attract other tech giants like Apple (AAPL - Free Report) , Uber, Amazon (AMZN - Free Report) and Baidu (BIDU - Free Report) , among others, which are also leaving no stone unturned to grab a piece of this market pie.
Just last week, the iPhone maker confirmed that it had acquired self-driving start up Drive.ai. The deal will definitely boost Apple’s engineering talent strength, owing to Drive.ai engineer’s domain expertise in neural networks, which play an important role in developing software for driverless vehicles.
Uber revealed the third generation of its self-driving car last month. Self-driving startup Aurora, backed by Amazon and Sequoia Capital, recently partnered with Fiat-Chrysler. The deal focuses on integrating Aurora’s technology into Fiat-Chrysler’s Ram trucks, with other vehicles likely to be added in the down the road.
To sum up, Alphabet’s robust self-driving technology and trend of winning deals for testing driverless cars are acting as tailwinds. Waymo One provides Alphabet a first mover advantage, which is anticipated to strengthen the company’s competitive position against its peers.
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Alphabet's (GOOGL) Waymo Provides Free Wi-Fi in Robotaxis
Alphabet’s (GOOGL - Free Report) self-driving unit, Waymo is leaving no stone unturned to bolster presence in the autonomous driving space.
Reportedly, Waymo plans to provide users with complimentary Wi-Fi service in its robotaxis in the Phoenix area.
The latest move gives a glimpse into Waymo’s efforts to lure customers for using its self-driving taxis.
Last December, Waymo had unveiled its first paid self-driving taxi, Waymo One, in Arizona. Currently, it serves people in the suburbs of Phoenix, namely Chandler, Tempe, Mesa and Gilbert.
Since then, the company has been making sincere efforts to grab share and make profits in this space. In this regard, Waymo launched ad-free music streaming for passengers through Google Play Music in late April.
In addition, it has installed a child car seat in every minivan and ensures a soothing temperature in all its vehicles.
With such attractive services, the company intends to explore opportunities beyond ride hailing services on the back of robust self-driving technology and artificial intelligence techniques.
Such enhanced services, maybe in the long term, are going to aid its revenue generation, which will in turn drive top-line growth.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Growth Opportunities
We believe growing autonomous driving initiatives are likely to aid Alphabet to penetrate into the global self-driving car and truck market.
Per Grand View Research, this market is projected to witness a CAGR of 63.1% between 2021 and 2030.Further, per Zion Market Research, this market is expected to witness a CAGR of 25.7% between 2018 and 2024, and hit $26.58 billion by 2024.
The company’s strong endeavors toward enhancing the self-driving service with commercial autonomous driving cars, trucks and taxis will continue to drive growth.
Gaining Competitive Edge
Immense growth opportunities in this autonomous vehicle market are luring enough to attract other tech giants like Apple (AAPL - Free Report) , Uber, Amazon (AMZN - Free Report) and Baidu (BIDU - Free Report) , among others, which are also leaving no stone unturned to grab a piece of this market pie.
Just last week, the iPhone maker confirmed that it had acquired self-driving start up Drive.ai. The deal will definitely boost Apple’s engineering talent strength, owing to Drive.ai engineer’s domain expertise in neural networks, which play an important role in developing software for driverless vehicles.
Uber revealed the third generation of its self-driving car last month. Self-driving startup Aurora, backed by Amazon and Sequoia Capital, recently partnered with Fiat-Chrysler. The deal focuses on integrating Aurora’s technology into Fiat-Chrysler’s Ram trucks, with other vehicles likely to be added in the down the road.
To sum up, Alphabet’s robust self-driving technology and trend of winning deals for testing driverless cars are acting as tailwinds. Waymo One provides Alphabet a first mover advantage, which is anticipated to strengthen the company’s competitive position against its peers.
Zacks Rank
Currently, Alphabet carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>