By 2028, the global autonomous vehicle (AV) market could be worth US$11bn, a CAGR of 31.3% from 2021’s US$1.64bn. This is according to a June 2022 report from Fortune Business Insights, which also predicted Asia-Pacific’s market dominance and heavy general industry investment in advanced driver assistance systems (ADAS).
The future of mobility, at least as far as light passenger vehicles are concerned, seems to be one where driver input is significantly diminished. Despite this, progress is still noticeably uneven across regions: General Motors’ San Francisco-based self-driving taxi service, Cruise, is reportedly losing US$5m a day; meanwhile, the Chinese government has consented to full autonomous vehicles on the streets of Shenzhen from 1 August.
While the development journey is unlikely to be a smooth one, what does seem certain is that drivers’ and passengers’ experiences will fundamentally change. Beyond simply being a method of getting ‘from A to B’, cars could soon become mobile living spaces that transform the general understanding of work, play, and transport. Infotainment and AVs are the tech duo that will accomplish this new standard.
