Self-driving vehicles could be found on freeways and roads by 2017, and become a $42-billion market for the technology by 2025, according to Boston Consulting Group. Self-driving cars builds on technology that is already available in a number of luxury vehicles.
Boston Consulting said that these cars are expected to be able to navigate city streets by 2022 and account for around a quarter of global vehicle sales by 2035, citing interviews with industry executives as well as consumer surveys.
According to a study by Boston Consulting, Japan and western Europe may adopt the technology most quickly. Xavier Mosquet, North America head of Boston Consulting’s automotive practice, remarked that many people “don’t realize how far along some of these technologies are.”
He added that consumer interest and the production costs will make self-droving vehicles more appealing attractive to both carmakers and customers.
Up to 9 billion people are expected to reside in urban areas within the next 25 years, placing more pressure on carmaker create technologies that allow better traffic navigation and safer multitasking. Ford Motor Co. chief executive Mark Fields recently remarked at the Consumer Electronics Show in Las Vegas thathe believes that a carmaker might launch a self-driving vehicle within the next five years.
He, however, discounted Ford on the race as the carmaker is focusing on less expensive features that assist in driving. General Motors said in September 2014 that it plans to roll out a hands-free highway driving technology on a Cadillac in two years.
Mercedes-Benz showed a self-driving concept car at the CES in the persona of the F 015 Mercedes. The four-seat self-driving concept car has six screens let passengers monitor information about vehicle and the outside world.
Boston Consulting disclosed that Mercedes will have a hands-free system by 2016. Tesla Motors Inc., meanwhile, plans to get ahead by offering hands-free highway driving in Model S sedans this year.