The technology is admirable and eagerly awaited among the young generation to use such new technology. The three levels, L3, L4/L5 are in the production line, waiting to penetrate the market in 2025.
The L3 is already entered the production line in 2017 by around 4%, the market share penetration however, for the L4/L5 expected to capture the market in 2025 by around 4%. The penetration of the L3 is seen to increase in small increment till 2021, but in 2025, it can be seen, the market is captured by around 81%. The survey shows that in the UK, the consumer is quite apprehensive about the latest technology and no doubt the forecasted market projection shows the acceptance attitude, be it L3 or L4/L5. This includes cars, trucks and pods which can be seen as quite a variation entering into the market altogether to reshape the complete dynamics of the driving style in the UK.
The growth can be seen quite a steady increment in the UK. If we compare with the connected car penetration, the variation is quite large. The increment for connected cars can be seen quite high, in 2025 it is expected to be 95%, whereas in 2020, the market penetration was almost 73%. But, how far the numbers are going to be affected by the impact of coronavirus is still unknown? Is it needed to revaluate such numbers in different percentages? Will there be any impact due to COVID-19 in the production line? Will the COVID-19 impact reshape the market demand and need to plan again for the overall UK market? How the cost is going to impact with new safety regulations?
Sources:- KPMG; SMMT; GSMA ; Ofgem; RAC; Mobilesquared; IHS