£66n CAM boost potential
【Summary】A new report by the Society of Motor Manufacturers and Traders (SMMT) reveals that connected and automated mobility (CAM) technology could generate a potential £66bn economic boost for the UK by 2040. This could result in the creation of 342,000 new jobs and the prevention of 60,000 serious accidents. The report highlights on-road logistics as the largest potential market, followed by on-road passenger services and off-road logistics.
A new report has revealed the potential for a £66bn economic boost for the UK by 2040 through the implementation of connected and automated mobility (CAM) technology. The report, titled "Connected and Automated Mobility: The UK Economic and Market Opportunities," was published by the Society of Motor Manufacturers and Traders (SMMT). It highlights the various commercial applications of CAM technology, including self-driving cars, logistics vehicles, automated buses, taxis, shuttles, and even tractors.
The report, which was funded by Innovate UK and conducted by KPMG, suggests that the widespread adoption of CAM technology could create an additional 342,000 jobs and prevent 60,000 serious accidents. It identifies on-road logistics as the potential largest market, with an estimated annual revenue of £15.2bn by 2040. On-road passenger services and off-road logistics are also identified as significant potential markets.
However, the realization of these benefits heavily relies on government action. The report emphasizes the need to remove all barriers to regulatory reform and calls for an ambitious strategy to support private sector investment and stimulate innovation-driven growth. Mike Hawes, the chief executive of SMMT, highlights the importance of collaboration between the government and all stakeholders to implement the necessary framework for this transport revolution. He warns that failing to do so could leave the UK lagging behind, jeopardizing competitiveness, growth, and job creation.
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