‘Growth in autonomous vehicles in next two decades’
By 2035, 12 million fully autonomous units could be sold a year globally, and the market for partially and fully autonomous vehicles is expected to leap from about 38 billion euro in 2025 to nearly 70 billion euro in 2035. This concludes a study of the Boston Consulting Group. The researches expect the growth in autonomous vehicle adoption to accelerate significantly during the next two decades.
The Boston Consulting Group conducted an in-depth study of the trends driving the development and adoption of autonomous vehicles. The study pulled together several elements of research, including an analysis of autonomous-vehicle technologies and economics, US consumer survey data, interviews with automotive and technology companies around the world and an extensive review of industry publications. In addition, the consulting company conducted a yearlong study in collaboration with the World Economic Forum (WEF) to understand the regulatory and social aspects of autonomous vehicle development.
After a comprehensive analysis of the findings of the study, Boston Consulting Group expects that partially autonomous vehicles will hit the road in large numbers by 2017, with the biggest growth coming in the next two decades. Mass adoption of self-driving technology will result in tremendous economic and societal benefits, and with it, far-reaching implications for automotive companies and other players in the value chain.
The consulting company concludes that by 2035, 12 million fully autonomous units could be sold a year globally, and the market for partially and fully autonomous vehicles is expected to leap from about 38 billion euros in 2025 to nearly 70 billion euros in 2035. By 2035, autos with autonomous vehicle features are expected to capture 25 percent of the new car market.