Self-driving AI is a $1 trillion opportunity, says stockbroker

So-called self-driving vehicle technology presents a $1 trillion market opportunity by 2030, according to bullish analysts at West Coast stockbroker Wedbush.

Tesla and Google-backed Waymo are the key contenders, Wedbush analyst Daniel Ives reckons.

Tesla's Full Self Driving software is a major driver for future growth, Ives claimed in a research note on Monday, citing monetization potential from both adoption and licensing models.

Alphabet-owned Waymo, meanwhile, will make money by scaling up from its first mover position in robotaxi services.

“We believe autonomous is the next frontier that will change the auto industry and be a potential $1 trillion market opportunity over the next decade with Tesla, Waymo, and other tech and auto players aggressively going after this next frontier,” Ives said in a detailed sector note.

Chinese firms such as Baidu and XPeng were also pinpointed by Ives as competitors to the American tech firms.