Increasing acceptance of autonomous vehicles uncovers multi-billion dollar opportunities in mobility services
SANTA CLARA, Calif., March 27, 2020 /PRNewswire/ — With autonomous vehicles (AVs) promising drastically reduced operating expenses and healthy profit margins, there has been a huge inflow of new entrants into the market for autonomous vehicle services. These companies are offering myriad services for AVs, employing innovative new business models that threaten the dominance of OEMs. A recent analysis by Frost & Sullivan indicates that the autonomous vehicle services market is expected to grow from a mere $1.1 billion in 2019 to $202.5 billion in 2030 at a CAGR of 60.1%, facilitated by mutually beneficial business models across the entire mobility value chain.