Big Bump in Autonomous Vehicle Sales Anticipated

For those who are closely following the autonomous vehicle market, hold onto your hats: One estimate shows that more than 33 million autonomous vehicles will be sold globally in 2040, a substantial increase from the 51,000 units forecast for 2021.

According to IHS Markit (Nasdaq: INFO), key market dynamics influencing growth include the rapid convergence of autonomous driving and mobility services such as ride-hailing is a central driver of early deployment and growth.   What’s more, the group predicts that the United States will lead the world in initial deployment and early adoption of production autonomous vehicles as early as 2019, while Europe and China are expected to begin adding considerable volume from 2021 onward.

Mobility-as-a-Service will first bring this technology to the masses before individual ownership of autonomous vehicles enters the picture.

“The first autonomous vehicle volumes — beyond retrofit test vehicles — will arrive in 2019 through driverless mobility services,” said Egil Juliussen, Ph.D. and director of automotive technology research at IHS Markit. “Volumes will surpass 51,000 units in 2021 when personally owned autonomous cars reach individual buyers for the first time, and IHS Markit forecasts estimate nearly 1 million units will be sold in 2025 across shared fleets and individually owned cars.”

Significant ongoing investment in transportation technology by OEMs, suppliers, mobility service providers and technology companies contributes to earlier deployment timelines, while dedicated mobility service brands within many automakers contributes to higher volumes of autonomous vehicles in the forecast.

Category: General Update, News