IHS Inc. (NYSE: IHS) said its Automotive
forecast suggested autonomous vehicle sales would reach close to 21 million by the year 2035 at the global levels. According to the
research firm, this was a considerable increase from previous estimates, and was influenced by recent R&D by automotive OEMs,
supplier and technology companies who are investing in this area.
IHS said the new forecast was also based on a wave of recent developments and investments in this sector of the market, apart
from activity within various regulatory environments. The research firm added that the United States would lead the globe in
initial deployment and early adoption of autonomous vehicles, while Japan will simultaneously ramp up industry coordination and
investment ahead of the Summer Olympics in Tokyo in 2020.
The company's Director of Research at IHS Automotive, Egil Juliussen, said, "Global sales of autonomous vehicles will reach
nearly 600,000 units in 2025. Our new forecast reflects a 43 percent compound annual growth rate between 2025 and 2035 – a decade
of substantial growth, as driverless and self-driving cars alike are more widely adopted in all key global automotive markets."
Similarly, its principal analyst, Jeremy Carlson, added, "Future mobility will connect and combine many different modes and
technologies, and autonomous vehicles will play a central role. IHS expects entirely new vehicle segments to be created, in
addition to traditional vehicles adding autonomous capabilities. Consumers gain new choices in personal mobility to complement mass
transit, and these new choices will increasingly use battery electric and other efficient means of propulsion."
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.