Car autonomy boom predicted
The global autonomous vehicle (AV) market is expected to grow by 36 per cent in the next two years and hit US$37 billion – or NZ$52.7b – in value by 2023.
According to data presented by BuyShares.co.uk, some 5.4 million vehicles with at least level-three autonomy will be on-road by then as well.
Although fully driverless cars are unlikely to reach wide acceptance any time soon, those with level two and three systems – such as collision detection, lane-departure warning and adaptive cruise control – are expected to witness rapid growth.
In 2019, the global AV industry was worth US$24.1b although the market shrunk by some three per cent due to the economic slowdown caused by the Covid-19. In 2021, however, it is forecast to recover and start growing to more than US$27b value.
Statistics also showed that in 2019, about 1.4 million vehicles with at least level-three autonomy were sold worldwide. This figure is set to reach 2.7m in 2021.
Overcoming technological hurdles is not enough for driverless vehicles to take off. People need to feel comfortable enough about riding in AVs to use and buy them.
The 2021 Global Automotive Mobility Study reveals customers worldwide have similar attitudes towards AVs regardless of their level of automation.
Around 47 per cent of respondents are willing to use a semi-autonomous vehicle, while 44 per cent say they would use a full AV.
The biggest concern regarding these cars is safety. About 61 per cent of respondents are worried about potential issues due to machine error, 51 per cent are concerned about safety matters resulting from human error. Liability ranked as the third major concern won a 38 per cent.
One-third of consumers are unsure whether the technologies necessary for AVs are advanced enough, while 30 per cent were worried about data security and privacy. Click here for the full report.
