Self-driving car stocks are the key to profiting from a market poised to grow a startling 33 times larger over the next dozen years.
A September report by PwC forecasts that revenue - from what it calls the "digital mobility services sector" - will grow from $65 billion today to $2.2 trillion by 2030.
The rush of money into this sector - which includes many areas well outside the traditional auto industry - will present tremendous profit opportunities for driverless car stocks.
And this revolution has already started.
The car you own now probably has some automated driving technology in it, such as corrective steering if you drift out of your lane and automatic emergency braking. Plug-in electric cars represent another piece of the driverless car future.
But that's just a taste of this sector's potential.
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Take a look at the explosion in the money being invested in the self-driving car sector over the past 18 months...
A study by the Brookings Institution in October found that cumulative global investment in driverless car technologies by automakers, auto suppliers, and tech companies has increased eightfold, to $80 billion, since October of last year.
Innovation is happening in every corner of the self-driving car ecosystem, the study said. "OEMs making car parts and advanced sensors and other guidance systems, microchip manufacturers and software companies creating the computers that process information from these sensors, and finally the automakers and fleet operators that ultimately will be the ones to put autonomous vehicles on the road."
And Brookings expects the pace of investment in self-driving car technologies "to continue as competitors continue the race toward deployment."
The opportunity is beyond question. But because it is spread over so many areas, investors have a wide range of self-driving car stocks from which to choose.
Here's an overview of the leading candidates in each category...
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About the Author
David Zeiler, Associate Editor for Money Morning at Money Map Press, has been a journalist for more than 35 years, including 18 spent at The Baltimore Sun. He has worked as a writer, editor, and page designer at different times in his career. He's interviewed a number of well-known personalities - ranging from punk rock icon Joey Ramone to Apple Inc. co-founder Steve Wozniak.
Over the course of his journalistic career, Dave has covered many diverse subjects. Since arriving at Money Morning in 2011, he has focused primarily on technology. He's an expert on both Apple and cryptocurrencies. He started writing about Apple for The Sun in the mid-1990s, and had an Apple blog on The Sun's web site from 2007-2009. Dave's been writing about Bitcoin since 2011 - long before most people had even heard of it. He even mined it for a short time.
Dave has a BA in English and Mass Communications from Loyola University Maryland.