Market researcher Berg Insight estimates unit sales of Autonomous/Self Driving cars to grow by 62% CAGR from 2020 to 2030. By 2020, Berg Insight predicts 0.2 million Units sales of Autonomous/Self Driving cars and by 2030 it predicts a massive 24 million units sales. As per this forecast, one can expect a total number of 71 million Autonomous/self driving cars at the end of 2030 that also include SAE Level 3 and 4 cars.
Below are the other market and technology insights shared by Berg Insight on this interesting market:
Several automobile manufacturers have initiated projects to develop self-driving features in their cars. The incumbent automakers are joined by multiple new actors such as IT companies and other technology-oriented firms. Most incumbent automotive companies pursue an incremental approach with step-by-step roll-out of autonomous systems while startups and IT companies take a more revolutionary direction and aim at developing fully autonomous cars immediately from scratch.
The advent of autonomous cars is expected to have a tremendous impact on our society in several ways. Cars are among the most costly as well as inefficiently used assets of today. When cars can operate around the clock on a service based business model it results in a tremendous increase of their utilization rate. Furthermore, autonomous cars will improve life quality for people unable to drive, reduce the number of fatalities and accidents in road traffic and increase overall traffic efficiency. The economic benefits are vast - the challenge is to succeed in making self-driving cars sufficiently reliable at a reasonable cost to enable commercialization.
Ludvig Barrehag, M2M/IoT analyst at Berg Insight says "These pathways do not contradict each other as different autonomous systems are suitable in different use cases. We will continue to see development from both sides for still some years before the two approaches converge".