The growth in mobility services is one of the major driving forces of change in the automotive ecosystem that is already transforming how consumers buy, use and power cars.
The rising number of accidents, growing safety concerns and increasing government mandates regarding vehicle safety and security shall be the major factor for growth of the AEB system market.
The aftermarket industry for safety features known as advanced driver assistance systems (ADAS) is currently valued at just under $1 billion, and is expected to grow to more than $1.5 billion by 2021.
Even after the dip of 10 percent from its recent high, The Boyd Group—which is part of the "Big 4" in the collision repair market—still delivered total returns of 8 percent in the last 12 months. The Boyd Group now operates locations in five Canadian provinces under the trade names Boyd Autobody & Glass and Assured Automotive and in 20 U.S. states under Gerber Collision & Glass.
Frost & Sullivan expects a Waymo-powered, Level 5 autonomous vehicle, featuring complete connectivity, to become available to the public by 2025. With over 3 million miles of on-road testing of autonomous cars and an industry-first car without a steering wheel or pedals, Waymo could potentially help commercialize its autonomous technology earlier than its competition.
The report points out that mobility as a service is growing rapidly mainly due to the high adoption of online mobility services. Globally, the market is expected to grow to experience thriving growth by 2023, surpassing its previous growth records in terms of value.
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