ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -They would be much more cost-effective, as no driver wages need to be paid. The prevalence of such options could result in the decline of private car ownership, creating a ripple effect on everything from fuel prices to insurance and even state revenue structures.

Detailed explanation-2: -The global autonomous / self-driving cars market in terms of revenue was estimated to be worth $20.3 million in 2021 and is poised to reach $62.4 million by 2027, growing at a CAGR of 13.3% from 2021 to 2030. Safety features are an important prerequisite for automotive customers across the world.

Detailed explanation-3: -The computers needed to run self-driving cars could pose a serious threat to the environment. They could ultimately produce more greenhouse gas emissions per year than Argentina currently does, new research suggests. Fossil fuel-guzzling cars spew out billions of tonnes of carbon dioxide.

Detailed explanation-4: -Autonomous car technology will provide a way to reduce parking spaces and traffic congestion. Walkability and livability will be greatly enhanced. It will also reduce noise pollution, making life easier for both humans and animals.