CAV Sector ‘To Be worth £41.7bn By 2035’
A new report has suggested that the connected and autonomous vehicle (CAV) market could be worth £41.7 billion by the year 2035, with 40 per cent of new UK car sales potentially featuring self-driving capabilities.
Researchers at the Connected Places Catapult, Element Energy and Cambridge Econometrics found that this could also create almost 40,000 skilled jobs in the CAV technology sector, helping to reinforce the government’s pledge to build back greener and stronger.
Some £200 million has already been invested by the government into CAV research and development, which has led to numerous successes in this particular sphere.
For example, UK startup Oxbotica recently launched Project Endeavour, demonstrating automated driving in urban and city environments and developing models with local authorities and communities to ready them for the launch of automated vehicle services in the future.
Transport minister Rachel Maclean said: “We’re on the cusp of a driving revolution. Not only could this tech unlock vast opportunities for the UK economy and jobs market, it could significantly improve the safety and efficiency of how we travel over the coming decades.”
Further research from Zenzic, the UK hub for the advancement of automated vehicles, recently revealed the strongest sectors in the country for the development of self-driving vehicle technology, including software, automation, testing, safety, connectivity, freight and logistics, sensors, infrastructure, communications and cyber security.
This year, the organisation is keen to see all UK cities and regions made ready for computer-aided manufacturing, with progress already having been made at a national level to introduce this kind of technology into the country’s road networks.
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