Autonomous Cars Impact and Disruption on Industries
Euromonitor International has published a new strategy briefing on Autonomous Cars Impact and Disruption on Industries. Car and tech companies are investing in autonomous car technologies. If current technology development prevail, by 2045, 100% of cars on roads globally are expected to be autonomous. This will have significant effect on manufacturers, logistics providers, consumer service industries and living spaces. This strategy briefing will identify key industries that will be disrupted the most.
- Car manufacturers and technology companies are aiming to develop their own autonomous cars. So far car manufacturers lead in terms of autonomous car technology development, although the race to monetise car-generated data is on. Car data market is forecast to reach USD500 billion by 2030.
- Autonomous cars are expected to significantly reduce demand for personal cars, resulting in shrinking production volumes and sales of cars. To offset losses, car companies and dealerships will have to invest in new products, such as car-sharing services or car fleet management.
- Autonomous cars will create loads of new data which will be required to transfer, store and analyse. Therefore telecommunications industry will be among the biggest winners, as 5G internet will play a crucial role in car-based data transfer and storage. In addition, self-driving cars will provide more spare time for commuters and encourage telecommunications providers to expand into the entertainment industry.
- Autonomous trucks will help to reduce labour and fuel costs, while allowing trucks to operate 24/7 will result in significant time savings for companies. Shrinking road transport and logistics industries costs would trickle down to cost savings for service buyers, such as retailers and B2B industries with long supply chains.
- Autonomous cars will disrupt property values. Improved connectivity and mobility will make property in suburban areas more attractive, as such areas offer lower property prices. This is particularly relevant for cities with high housing and transportation prices.
Strategy Briefings offer unique insight into emerging trends worldwide. Aimed squarely at strategists and planners, they draw on Euromonitor International’s vast information resources and add new intensive research to give top line insight across markets.