Driverless [New] The deployment of autonomous vehicles could save USD 300 billion by 2025, reducing collisions and enabling safe driving. The autonomous / driverless car market was valued at USD 5.68 billion in 2018 and is expected to project a CAGR of 31.50%, during the forecast period, 2019-2024. Bain expects new car sales in Berlin, for instance, to fall 12% by 2030 as use of driverless taxis rises. Xpeng Motors will begin deliveries of its P7 vehicles to customers in Q2 of 2020, making it the first Chinese company to use Connext DDS in the production models of autonomous vehicles. The global market for autonomous vehicles, or the passenger economy as it dubs it, will surpass $7 trillion annually by 2050. Seventy-one percent of global respondents believe autonomous cars are better at driving than humans or will surpass human abilities within 10 years. By 2040 just 10% of new vehicle sales in urban areas will be personally owned driver-driven vehicles, with over 70% of new sales falling into the category of shared autonomous vehicles. The total market for autonomous vehicles could reach $667.7 billion by 2026. Toronto will be prepared for the arrival of autonomous vehicles on public roads by 2022. China's autonomous car market is expected to reach 1.5 million units by 2025, growing on a compound annual growth rate of 28.4%. 71 percent of global respondents believe autonomous cars are better at driving than humans or will surpass human abilities within 10 years, with 77 percent saying they'd be comfortable riding in an autonomous car at some point during their lifetime. While the government has said it wants fully self-driving vehicles on UK roads by 2021, it's unclear if the autonomous technology will be mature enough by then to be used on a day-to-day basis. The global value of the autonomous vehicle market will exceed $173 billion in 2023 and continue to increase every year. While completely autonomous vehicles will not become mainstream in the next few years, Waymo, GM Cruise, and Argo AI are making significant advances in the driverless car market. The global autonomous vehicle market is expected to grow at a rate of almost 40% from 2019 to 2026 as at least 46 companies, including the likes of Tesla and Alphabet, develop self-driving vehicles that could add US$7 tn to the global economy. Once things get moving, the Asia-Pacific is expected to lead the way in autonomous vehicle sales, forecast to stay on top up to 2040, for all levels of autonomy combined. Fully driverless cars are expected to take to Britain's roads by the end of the year under government plans to scrap the requirement for a dedicated safety driver. Driverless cars have hit the streets of London before a full roll-out next year in which autonomous taxis will become common in the capital. The speed and standard at which driverless vehicles and the supporting infrastructure are developed and deployed will be one of the tests for making the world's leading cities fit for future mobility. Tesla is planning to launch Tesla Network, which will allow owners to place their autonomous vehicles as robotaxis. McKinsey Center for Future Mobility expects the market for automotive software and electronics to grow by 7 percent year over year in the coming years, becoming a $470 billion industry. See full forecast Last updated: 19 January 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
