The rollout of connected and automated mobility (CAM) technologies could provide as much as £66bn in economic benefit to the UK by 2040, according to a report from Society of Motor Manufacturers and Traders (SMMT).
The report delineates a range of socio-economic benefits for the country that could be delivered through connected and autonomous mobility (CAM) technology, including self-driving public transport and logistics vehicles.
Other added benefits include positioning the UK as a leader in ‘next-generation’ technology and creating 342,000 additional jobs across the economy from now to 2040.
The publication summarises a KPMG study funded by Innovate UK, which highlighted that on-road logistics could see the biggest benefit through receipt of £15.2bn in revenue by 2040.
What’s more, the report suggests 3,900 lives could be saved by implementing increased levels of autonomous transport, too, with 60,000 serious accidents also potentially being prevented across the same period.
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.”
Adding to this, the report highlighted that barriers to regulatory reform needed to be removed, as well as the introduction of government policy to stimulate growth and investment in this area.
Mike Biddle, executive director, Innovate UK, added:”This landmark study shows the huge prize that developing and deploying connected and automated mobility in the UK could deliver, with annual economic benefits as high as £66bn by 2040 and an estimated additional 342,000 additional jobs overall in the economy.”