The UK’s rollout of connected and automated mobility (CAM) technology could provide an annual economic benefit as high as £66bn by 2040, according to a new report from the Society of Motor Manufacturers and Traders (SMMT).
Connected and automated mobility: The UK economic and market opportunities sets out the socio-economic benefits for Britain if connected and automated mobility (CAM) technology is adopted in a range of commercial applications, from self-driving cars and logistics vehicles to automated buses, taxis, shuttles and tractors.
CAM tech enables vehicles to drive without human intervention Totomacau while connecting with each other and surrounding infrastructure. Boosting rollout would not only cement the UK’s status as a global leader in this next gen tech, but it would also create some 342,000 additional jobs across the economy from now to 2040, with 12,250 in automotive manufacturing. 3,900 lives could be saved, too, with 60,000 serious accidents prevented across the same period, all while delivering potentially lower insurance premiums, less stressful journeys and greater travel freedom for those with disabilities. Businesses could benefit from more efficient movement of goods and industrial processes.
The report, summarising a study by KPMG and funded by Innovate UK, with support from the Automotive Council and Zenzic, reveals that on-road logistics has the potential to be the largest market, with annual revenue of £15.2bn by 2040 from rolling out CAM tech in the sector.
Implementing CAM tech in on-road passenger services, such as buses, taxis and ride-hailing, with a possible annual revenue of £3.7bn, and off-road logistics, including vehicles used in warehouses, ports and airports, worth £2.3bn per year by 2040, rank as the second and third largest markets.
SMMT chief executive Mike Hawes said: “While fully automated road journeys are still some way off, advances in connected and automated mobility technology means they’re within our future – presenting a significant opportunity to revolutionise transport in the UK.
“Government must work with all stakeholders to implement the necessary framework needed to deliver this exciting revolution swiftly and effectively, ensuring that consumers can reap the lifesaving and cost saving benefits. Failing to do so risks leaving the UK in the slow lane, jeopardising our competitiveness and impeding growth and job creation.”
Ian Constance, Zenzic Chief Executive, said: “The UK continues to be at the forefront of global development and deployment in connected and automated mobility. We have focused on critical elements of the supply chain in which the UK has great strengths such as self-driving software, cyber security, testing and validation and simulation. This report outlines the size of the opportunity for the UK CAM sector and calls for greater engagement across all relevant sectors.”
Download the report here