The UK’s automated vehicle (AV) market creates a serious opportunity for innovators with industry experts estimating that the UK self-driving market will be worth up to £40bn by 2040.
The comments follow the recent ‘Connected 2024’ event hosted by the Society of Motor Manufacturers and Traders (SMMT), at which important points were raised about how the market currently stands along with discussion about what is required to improve and innovate the market in the future.
The industry body said that the “eagerly awaited” Automated Vehicles Act, currently passing through parliament, has the potential to unlock “massive safety and economic benefits” from automated cars and public transport services. The legislation was described as the “steel beams” of the AV legal framework in the UK. During the event, representatives from both the government and industry emphasised the need for collaboration between business and lawmakers through consultation as they prepare for widescale deployment of AV technology by 2027.
The UK government is aiming to be at the forefront of this technology and is relying on the state’s regulatory and competition framework to drive innovation, investing £600m of public and private money into the sector since 2015.
The technology also has the potential to meaningfully impact lives, according to figures highlighted during the event. The AV sector is estimating that it will create 38,000 jobs in the UK between now and 2040, with the market expected to boom. SMMT also expects to see huge increases in the value of the offroad market, such as farming and mining, to £28bn in the next 16 years.
Automated vehicles are also expected to have a positive impact on social mobility. Representatives from the Royal National Institute of Blind People spoke during the event, explaining that of 2 million blind people across the UK, two thirds felt constrained due to a lack of mobility. However, it is hoped that AVs will help rather than hinder such groups.
Will Carr, an expert in automated vehicles at Pinsent Masons, said: “AVs can really change and positively impact so many lives. However, if certain groups are not considered, for example, wheelchair access, or a conductor onboard the AV to assist people, then there is a real risk that groups of people will not be accounted for.”
It is important for AV firms to remember stakeholders and their differing needs. A recurring message throughout the event was that the vehicles themselves and passengers are only two parts of the AV ecosystem. “If AVs are going to succeed, there are countless stakeholders who need to be engaged,” said Leo Parkington of Pinsent Masons.
These stakeholders include charging point providers through to local authorities, which are responsible for ensuring that road markings are clearly painted and maintained. During the event, one AV manufacturer who operates vehicles at a Singapore airport said that even within the confined space of operating AVs airside, as many as 40 different stakeholders are involved.
The SMMT event further highlighted differing opinions of original equipment manufacturers (OEMs). Certain OEMs believe that the more connectivity, data sharing and autonomy they can add to the car the better. One OEM representative went as far as to say that its software developers are now the “backbone of the company”, although this opinion was not shared by others.
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