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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.

The new road to the future: The benefits of autonomous vehicles in Australia

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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:

 

Vehicle Manufacturers

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.

 

Mobile service and technology suppliers

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.

 

Energy providers

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.

 

Financial services

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.

 

Government and transportation services

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.

 

Healthcare

6. Healthcare

Emergency services working with analytics providers could improve response while potentially lowering costs.

Healthcare Government and transportation services Financial services Energy providers Mobile service and technology suppliers Vehicle Manufacturers 1. 2. 3. 4. 5. 6.

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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