Autonomous Vehicles Will Reach Nearly 95 Million in Annual Sales by 2035, Forecasts Navigant Research
Legislative and regulatory issues present the highest barriers to introduction, report concludes
BOULDER, Colo.--(BUSINESS WIRE)--Autonomous, or self-driving, vehicles have been a goal of automotive engineers for many years. Today, although significant challenges remain, the competition among automakers to bring autonomous features to market is strong. In the long term, the technology has the potential to institute major changes in personal mobility, particularly in large cities. Click to tweet: According to a new report from Navigant Research, worldwide sales of vehicles with autonomous capability will grow from zero in 2014 to 94.7 million in 2035.
“Combinations of advanced driver assistance features that can enable semi-autonomous driving are now being brought to market for the first time”
“Combinations of advanced driver assistance features that can enable semi-autonomous driving are now being brought to market for the first time,” says David Alexander, senior research analyst with Navigant Research. “The cost reductions brought about by increasing volumes and technological advances make the installation of the multiple sensors necessary for such capability feasible.”
While more testing is still needed to ensure robustness, the biggest practical hurdles before rollout to the public are not technological but relate to liability, regulation, and legislation, according to the report. If no government is willing to take the steps required to make autonomous vehicles legal on public roads, it could be a big obstacle for the emergence of widespread autonomous driving and the potential benefits it offers.
The report, “Autonomous Vehicles”, analyzes the emerging global market for advanced driver assistance systems leading to semi-autonomous and autonomous driving. It provides a discussion of the benefits of self-driving vehicles and barriers to implementation. Global market forecasts for autonomous-capable vehicle sales and volumes of key autonomous driving features and associated revenue, segmented by region and feature, extend through 2035. The report also provides a review of the core driver assistance technologies that make self-driving vehicles possible, as well as in-depth profiles of the leading industry players. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Autonomous Vehicles,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.