Over the next decade, the autonomous vehicle industry is poised to disrupt how we integrate vehicles into our lives. According to a recent report from Frost & Sullivan, the autonomous vehicle industry is expected to generate $1.5 trillion in new revenue by 2030 as technology advances and the market expands into new sectors1. While the industry has made great strides already, there are still many opportunities to increase your influence in the industry and help facilitate its expansion. From pedestrian recognition to legislative and regulatory concerns, there are still many hurdles that must be cleared before fully autonomous vehicles, also known as Level 5 vehicles, will be ready for the mass market. Now more than ever, it is time to look at how this growing industry can help drive positive business results for your organization.
Currently, autonomous vehicles are between automation Levels 3 and 4. As the development of autonomous vehicles make steady progress toward the ultimate Level 5, the sheer number of players investing in the future of this industry is climbing rapidly. Startups are leading the pack with new technology, ridesharing, and integrated software. However, the entire value chain is present in this growing ecosystem, including test track operators, scientists, manufacturers, software engineers, and more. Autonomous vehicles are already changing norms across passenger, transit, and freight, with vehicles transforming how personal lives and even major economies function. While many have already reported on how personal autonomous vehicles are changing society, transit options are also expected to be disrupted with the introduction of autonomous public transit, a key part of smart cities. As these smart cities develop new infrastructure systems in tandem with vehicle systems, autonomous taxi and shipping services must make similar considerations of their integrated systems to ensure a cohesive ecosystem of autonomous vehicles on the local, national, and global levels.
As the business landscape for this industry continues to materialize and develop, more opportunities to invest and engage will arise. How can you hitch a ride on this autonomous train? Explore our infographic “The world of 2030: navigating the future of autonomous vehicles” to learn more.
The infographic will share information including:
- The projected development timeline of autonomous vehicles
- Key findings from the Frost & Sullivan report
- The roles autonomous vehicles are expected to play in tomorrow’s society
- How to engage with the autonomous vehicle industry
1. Global Automotive & Transportation Research Team at Frost & Sullivan. “Global Autonomous Driving Market Outlook, 2018.” Frost & Sullivan. 2018. https://go.frost.com/EU_PR_KMenzefricke_K24A_AutonomousDriving_Apr18