Strategy Analytics has predicted the potential economic impact of the Passenger Economy once fully autonomous pilotless vehicles begin to proliferate globally in 2035 and by 2050, the base year of our scenarios, account for nearly 50 percent of all vehicles sold. The study predicts an explosive economic trajectory growing from $800 billion in 2035 to $7 trillion by 2050.
Key report highlights include:
Business use of Mobility-as-a-Service (MaaS) is expected to generate $3 trillion in revenues, or 43 percent of the total passenger economy.
Consumer use of Mobility-as-a-Service offerings is expected to account for $3.7 trillion in revenue, or nearly 55 percent of the total passenger economy.
$200 billion of revenue is expected to be generated from rising consumer use of new innovative applications and services that will emerge as pilotless vehicle services expand and evolve.
Conservatively, 585,000 lives can be saved due to self-driving vehicles in the era of the Passenger Economy from 2035 to 2045.
Self-driving vehicles are expected to free more than 250 million hours of consumers’ commuting time per year in the most congested cities in the world.
Reductions in public safety costs related to traffic accidents could amount to more than $234 billion over the Passenger Economy era from 2035-2045.
Highlights of future scenarios explored in the study include:
Car-venience: From onboard beauty salons to touch-screen tables for remote collaboration, fast-casual dining, remote vending, mobile health care clinics and treatment pods, and even platooning pod hotels, vehicles will become transportation experience pods.
Movable movies: Media and content producers will develop custom content formats to match short and long travel times.
Location-based advertising: Location-based advertising will become more keenly relevant, and advertisers and agencies will be presented with a new realm of possibilities for presenting content brands and location.
Mobility-as-a-perk: Employers, office buildings, apartment complexes, university campuses and housing estates will offer MaaS to add value to and distinguish their offer from competitors or as part of their compensation package