42 autonomous vehicle companies cluster near core Silicon Valley
The autonomous vehicle industry, also known as self-driving, exploded in recent years as car manufacturers look to autonomous technologies to improve driving.
March 05, 2019
- The autonomous vehicle industry, also known as self-driving, exploded in recent years as car manufacturers look to autonomous technologies to improve driving. Venture capital firms and large corporations continue to pour money into startups focused on this growing industry, with at least seven well-funded ($50 million or more in equity funding) startups located in the Bay Area, according to Crunchbase. There are approximately 42 companies in the Silicon Valley focused on this technology that can be split into three categories: car OEMs, tech giants and startups.
- The map above illustrates the total amount of office space leased by these 42 companies by city (also separated by zip code). Many autonomous vehicle startups prefer the core of Silicon Valley due to the large cluster of traditional automakers and tech stalwarts. Cupertino, Palo Alto and Fremont contain a significant amount of occupied space because of large autonomous projects by tech giants and proximity to OEMs.
- This technology is not going away any time soon, with Silicon Valley likely to grow into an even larger autonomous vehicle epicenter. Moving forward, companies either developing or supporting this technology should continue to drive a significant share of office demand in the market.
Source: JLL Research