The key drivers in technology and mobility services in the AVs market: –
- Mobility services: One of the primary drivers for the industrial growth of mainstream autonomous cars. Ride-hailing is one such service introduced by Uber, and Lyft, owning the market before any individual ownership.
- Technology investments: Investments in transportation technologies by auto manufactures enabled valuable partnerships in technology companies. It resulted in ecosystems and new business models with technology for further growth. The ability is enhanced for OEM in technology advancement.
- Pollution control initiatives: Environment-friendly hybrid and electric cars are capturing the market more than a traditional vehicle. The market is driven by an electric power train for autonomous cars also.
- Mortality reduced and spending on public safety: The goal of public safety is said and expected to be confirmed and estimated that over the US $234 billion to cost savings for public safety in 2035 to 2045.
- Economic benefit: It is speculated that driverless cars are estimated to generate over US$1 trillion for economic benefits to consumers and society, as per, World Economic Forum. Another claim by Intel and Strategy Analytics is that Autonomous vehicles are responsible for US$7 trillion worth of economic activity by 2050. The market is divided into groups, US$4 trillion from driverless ride-hailing and US$3 trillion from driverless delivery and business logistics.
- Smart Infrastructure: The importance of more AVs on the roads is leading to enhance smart technology for road signs, traffic lights, and merge lanes. It is also rapidly accelerating the adoption of the autonomous car.
Other than the advanced technology. The consumer, the buyers, or the technology fans always looks for something. Even though new features and design have been a boost up for traditional vehicles. However, it is always a dream to drive technologically advanced cars or vehicles with better electric fuel. It is always good to have better mileage. The advanced fuel enhances the progress of the AVs.
Source:- Statista Mobility Market Outlook