Autonomous Vehicles: Market Trends and Transformation Opportunities in the Era of Driverless Mobility

What is the Current State of the Autonomous Vehicles Market?

The market for autonomous vehicles is growing dynamically. Although the penetration level of fully autonomous vehicles remains low, progress in advanced driver-assistance systems (ADAS) and public and private investments are paving the way for higher levels of automation. Market participants have been working on significant technological advancements, including AI, machine learning, and sensor tech improvements.

What Key Trends are Shaping this Sector?

Customer demand for increased safety, along with regulatory pushes for safer roads, are major forces behind autonomous vehicle tech. Forthcoming 5G connectivity promises to enable vehicle-to-vehicle communication, a critical part of vehicle autonomy. In addition, the sharing economy is likely to jumpstart the autonomous vehicle sector, as shared platforms can better absorb the high costs associated with these vehicles.

What are the Transformation Opportunities?

With the rise of autonomous vehicles, complementary industries are likely to arise and existing ones may be transformed. Automotive cybersecurity, data analysis, urban infrastructure development, and electric vehicle charging systems are areas poised for growth. For the existing industries, insurance and law enforcement may need to adapt to the new realities brought on by autonomy on the roads.