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Autonomous Driving Will Spur $7 Trillion ‘Passenger Economy,’ Intel Report Says

A new Intel-commissioned study predicts that the rise of autonomous vehicles will give birth to a $7 trillion Passenger Economy by 2050, as today’s drivers become idle passengers.

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If self-driving vehicles somehow eliminate all collisions in the future, maybe there’ll be room for you in the new “Passenger Economy.”

A new Intel-commissioned study predicts that the rise of autonomous vehicles will give birth to a $7 trillion Passenger Economy by 2050, as today’s drivers become idle passengers.

Autonomous driving will spur changes “across a range of industries, displacing vehicle ownership with Mobility-as-a- Service, and defining a new landscape of concierge and ride-hailing services, as well as pilotless vehicle options for businesses in industries like package delivery and long-haul transportation,” Intel and the research firm Strategic Analytics assert in a new report, “Accelerating the Future: The Economic Impact of the Emerging Passenger Economy.”

“Companies should start thinking about their autonomous strategy now,” said Intel CEO Brian Krzanich. “Less than a decade ago, no one was talking about the potential of a soon-to-emerge app or sharing economy because no one saw it coming. This is why we started the conversation around the Passenger Economy early, to wake people up to the opportunity streams that will emerge when cars become the most powerful mobile data generating devices we use and people swap driving for riding.”

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Onboard Beauty Salons, Movable Movies

Some of the opportunities highlighted in the report include:

  • Car-venience – From onboard beauty salons to touch-screen tables for remote collaboration, fast-casual dining, remote vending, mobile health care clinics and treatment pods, and even platooning pod hotels, vehicles will become “transportation experience” pods.
  • Movable movies ­– Media and content producers will develop custom content formats to match short and long travel times.
  • Location-based advertising: Location-based advertising will become more keenly relevant, and advertisers and agencies will be presented with a new realm of possibilities for presenting content brands and location.
  • Mobility-as-a-perk: Employers, office buildings, apartment complexes, university campuses and housing estates will offer MaaS to add value to and distinguish their offer from competitors or as part of their compensation package.

Strategic Analytics predicts that commercialization of autonomously operated vehicles will gain steam by 2040 – generating an increasingly large share of the projected value and heralding the emergence of instantaneously personalized services.

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