SMMT report identifies £66n potential CAM boost
- Posted by: Alan Feldberg
- Category: News
A new report has identified a potential £66bn economic uplift for the UK by 2040 as a result of connected and automated mobility.
Connected and automated mobility: The UK economic and market opportunities, published by the Society of Motor Manufacturers and Traders, says that CAM technology applied to a range of commercial applications from self-driving cars and logistics vehicles to automated buses, taxis, shuttles and even tractors could also create 342,000 additional jobs and prevent 60,000 serious accidents.
The report, summarising a study by KPMG and funded by Innovate UK, reveals that among these markets, on-road logistics has the potential to be the largest, with annual revenue of £15.2bn by 2040.
On-road passenger services and off-road logistics have been identified as the second and third largest potential markets.
However, unlocking the benefits is highly dependent on government action, meaning all barriers to regulatory reform must be removed and this needs to be combined with an ambitious strategy to support private sector investment and stimulate innovation-driven growth.
Mike Hawes, SMMT chief executive, said, “While fully automated road journeys are still some way off, advances in connected and automated mobility technology means they’re within our future – presenting a significant opportunity to revolutionise transport in the UK. Government must work with all stakeholders to implement the necessary framework needed to deliver this exciting revolution swiftly and effectively, ensuring that consumers can reap the lifesaving and cost saving benefits. Failing to do so risks leaving the UK in the slow lane, jeopardising our competitiveness and impeding growth and job creation.”