The autonomous vehicle services market is expected to grow from a mere $1.1 billion in 2019 to $202.5 billion in 2030, according to Frost & Sullivan's latest research, Future Business Models of Autonomous Vehicle Services, 2030.
“For an autonomous technology to be viable, it needs to have a profitable and sustainable business model,” said Manish Menon, mobility industry analyst at Frost & Sullivan. “The key challenge is to quickly evolve from the current sales and leasing business models to investing in the assets and capabilities that can support NextGen solutions in the autonomous mobility space and its associated services. This is especially pertinent for OEMs as revenues from vehicle sales and leasing will drastically decrease.”
Of all the autonomous vehicle services clusters, peripheral services will roughly account for 55 percent of the mark
