A report commissioned by Intel (who bought Mobileye for $ 15 billion) paints a very optimistic picture of the role autonomous vehicles will be playing in our lives in the next 30 years: a $ 7 trillion (£ 5 trillion) opportunity.
Quotes from sections of the report:
1. "In an unprecedented transformation of global industry, autonomous vehicles are about to displace drivers and generate $7 trillion per year by 2050 according to a study commissioned by Intel.
-- Fleets (trucks, buses, taxis, deliveries) likely first movers in autonomy uptake.
-- Advanced vehicle vision and detection systems essential for industry advancement."
2. "The study predicts autonomous vehicles will create a massive economic opportunity that will scale from $800 billion in 2035 to $7 trillion by 2050, taking into consideration the value of all products and services derived from fully autonomous vehicles, including tangential savings such as time. The study also postulates that because of greatly enhanced safety, autonomous vehicles will save more than 580,000 lives between 2035 and 2045. The future increasingly looks like it will be chauffeured by intelligent, pilotless vehicles. Companies that don't engage now and prepare for autonomous transportation risk failure or possibly even extinction. However, though the potential and opportunity are exciting for this burgeoning industry, technological hurdles must still be overcome. If history is any indicator, the complexities of autonomous transportation will be solved like all other technical challenges in emerging industries that have come before, and outsized rewards will be delivered to those who provide solutions."
3. "It took years for automotive innovations that were first introduced in the luxury car segment to finally trickle down to most of the cars on the road. Some assume that autonomous driving will follow a similar path, but all indications are that self-driving vehicles will adopt a different dynamic. The first fully autonomous vehicles are most likely to appear within commercial fleets of trucks, taxis, buses and delivery-dependent services where technology costs could be offset by fleet efficiencies. Pizza companies are already testing the use of autonomous vehicles to deliver their products and reduce costs. The impact might be most significant in trucking - nearly every item sold in the United States touches a truck at some point between manufacture and purchase. The benefits of autonomous fleets become obvious when the costs for a truck driver represent about a one-third of the total transport costs. Fully autonomous fleets could dramatically increase operating margins, providing compelling impetus for rapid adoption. However, reaching that point is dependent on robotic vehicles being able to "see" clearly and accurately detect and avoid obstacles."