According to Volvo, 90% of road accidents are caused by human error. Autonomous vehicles not only will reduce this percentage, but smart driving software, like brake assist, will put less wear-and-tear on cars, necessitating less replacements, according to CBS Insights.
By 2030 PwC predicts that electronics will account for 50% of automobile manufacturing costs, up from one-third today. As so, traditional parts manufacturers will face competition from tech-focused companies.
Nvidia has been selected by several automakers to help build the computers needed for cars to make their own driving decisions, becoming a major competitor for tradition parts manufacturers.