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The new road to the future
The benefits of autonomous vehicles in Australia
THE ERA OF AUTONOMOUS
VEHICLES IS HERE
According to industry estimates, by 2020, the autonomous vehicle market will be worth US$87 billion. Furthermore, by 2040, it is predicted that four out of every 10 vehicles on the road will be autonomous. Autonomous vehicles will open up new opportunities and create an impetus for innovation for organisations from across a wide range of industries in Australia.
Accenture Digital launched a report to help Australian companies move ahead of the curve and to encourage whole industry sectors to understand the opportunities—and potential impact—of automation and how they can benefit from this disruptive new technology.
OPPORTUNITIES FOR
AUSTRALIAN INDUSTRIES
Autonomous vehicles are expected to be a highly disruptive force–one that will have a significant impact, far beyond automotive companies and suppliers. We outline how this technology could provide opportunities for the following industries:
1. Vehicle Manufacturers
Original equipment manufacturers (OEMs) will need to work closely with providers of hardware, software and research and development as car makers shift from just making vehicles to delivering cutting-edge services.
2. Mobile service and technology suppliers
Increased data collection from autonomous vehicles could present opportunities for technology providers, app development, big data, cloud and IT.
3. Energy providers
This technology may reduce demand for certain types of energy and create opportunities to deliver energy. Energy providers need to consider ways to use alternate energy.
4. Financial services
Autonomous vehicles can expand consumers’ access to banking, using the car to pay for fuel and tolls. These vehicles may also radically reshape the insurance industry.
5. Government and transportation services
Autonomous vehicles could improve city and transportation planning. These vehicles can collect road and traffic data, providing key information for authorities.
6. Healthcare
Emergency services working with analytics providers could improve response while potentially lowering costs.
1. Vehicle Manufacturers
Original equipment manufacturers (OEMs) will need to work closely with providers of hardware, software and research and development as car makers shift from just making vehicles to delivering cutting-edge services.
2. Mobile service and technology suppliers
Increased data collection from autonomous vehicles could present opportunities for technology providers, app development, big data, cloud and IT.
3. Energy providers
This technology may reduce demand for certain types of energy and create opportunities to deliver energy. Energy providers need to consider ways to use alternate energy.
4. Financial services
Autonomous vehicles can expand consumers’ access to banking, using the car to pay for fuel and tolls. These vehicles may also radically reshape the insurance industry.
5. Government and transportation services
Autonomous vehicles could improve city and transportation planning. These vehicles can collect road and traffic data, providing key information for authorities.
6. Healthcare
Emergency services working with analytics providers could improve response while potentially lowering costs.
THE NEED FOR
COLLABORATION
Autonomous vehicles have profound implications for businesses in a range of sectors. The good news is that with its low population density, advanced technology and track record of innovation, Australia is well-positioned to be a global pioneer in this area.
However, to make room for this innovation, Australia needs to create an open and connected environment. Such a setting should welcome and accommodate innovative self-driving cars and other forms of advanced transport.
In our view, no one sector can single-handedly deliver or profit from autonomous vehicles. Instead, the key will lie in collaboration, strategic partnerships, industry leadership and government support.
With the uptake of this technology already gathering pace around the world, it’s time to act.
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