Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
Time for a Digital Revolution in the Women’s Health Market
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
The Global Autonomous Vehicle Service Market is likely to Reach $203 Billion by 2030
save 15 %
* Required Fields
Pay by invoice
OEMs, who have been traditionally maintaining industry leadership and also tight control over the ecosystem, have realized that the ongoing shift towards holistic mobility solutions presents a substantial threat to their position and dominance. They have also realized that the emergence of autonomous vehicles will not only disrupt the way we travel but also cause a major disruption to how players across the value chain operate.In order for autonomous technology to be viable, it needs to have a profitable and sustainable business model. The key challenge is to develop a robust strategy after taking into account many challenges such as regulatory hurdles, lack of standardized road infrastructure, and low consumer confidence on autonomous technology. Despite all these challenges, there is a huge inflow of new entrants, especially the ones with no automotive background, and all of them agree that autonomous vehicles promise good profit margins while reducing operating expenses.We at the Mobility team within Frost & Sullivan have published a report titled “Future Business Models of Autonomous Vehicle Services, 2019,” which aims to find answers to the challenges. The aim of this study is to research, analyze, and forecast the emerging autonomous services market at a global level and also assess the future growth and developments in the market.Our research indicates that the autonomous vehicle service market is expected to grow from a mere $1.14 billion in 2019 to $202.51 billion in 2030, at a CAGR of 60.1%, facilitated by mutually beneficial business models across the entire value chain. Among the various services, the mobility services market is expected to grow from $0.01 million in 2019 to $22.41 billion in 2030 showcasing the most drastic cluster for growth in the next decade.Peripheral services which include services such as on-demand/user insurance, vehicle data services, and predictive maintenance together roughly amount to 55% – i.e., $110 billion in 2030, at a CAGR of 78% from 2019. Vehicle services such as on-demand feature updates and parking services for autonomous vehicles will grow from a mere $0.20 billion in 2019 to $35.15 billion in 2030, at a CAGR of 60.1%. The autonomous logistics market is expected to grow from a mere $0.74 billion in 2019 to $34.46 billion in 2030 at a CAGR of 41.7%, driven by consumers’ desire for faster delivery and their willingness to pay a premium for the same.
Author: Kamalesh Mohanarangam
Frost Radar™: European Manufacturers of Hydrogen Fuel Tanks for Commercial Vehicles, 2021
Frost Radar™: US Long-haul Autonomous Trucking Technology Companies, 2021
Indian Commercial Vehicle Outlook
Profiles of the Top 5 Global Off-highway Equipment OEMs and Growth Opportunities
Global Electric Two-wheeler OEM Strategies and Growth Opportunities
ASEAN Shared Mobility Growth Opportunities
Global Electric Corner Module Market, Growth Opportunities, 2021
Latin American Used Car Growth Opportunities
Global Electric Commercial Vehicle Start-up Profiles and Growth Opportunities
2030 Vision of the Automotive Industry
dietary supplements market
residential solar market
flexible packaging market
3d printer market share
cloud security market
solar energy market
functional beverage market
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.