Autonomous and Connected Technologies to Decrease Transportation Costs to Under 1$ per Mile

Frost & Sullivan explores data monetisation, telematics-based insurances and the challenges for policy makers at its "Intelligent Mobility" event

Cars will be an essential element of the connected living ecosystem by 2030. With the most advanced connected cars collecting on average 2.5"“3 petabytes of data per year operated, OEMs will become data companies. As a result, they will look for opportunities to monetise the data they have at their disposal. This requires both, the smart implementation of Artificial Intelligence (AI) into cars and all connected devices as well as innovative "as a service" business models. A panel at Frost & Sullivan's Intelligent Mobility conference on the 29th of June in London will focus on the questions arising through these new opportunities.

"This is where the benefits of autonomous driving becomes obvious "“ while getting from A to B in a largely autonomous car, the user will have plenty of gained time to spend on topics such as health, leisure and shopping," explains Franck Leveque, Partner & Business Unit Leader, Mobility, Frost & Sullivan. One way OEMs are seeking utilisation of this potential future demand are their offers of generous freemiums to trigger the consumer's interest to commit to a longer subscription.

For today's consumer the cost per mile is highly volatile and dependent on factors as various as location and mean of transportation, but also on the time of travel. Thus, the costs per mile can vary from under one USD for most public transportation systems to more than 12 USD for taxis. In future, cost reduction can be expected from various factors, among them dynamic routing which will allow for smarter allocation of customers in taxis. "But the biggest potential for decreasing the price per mile is provided by autonomous systems replacing drivers, which will make it possible to safe the 30 to 40 percent of the cost we pay for the ride," finds Arunprasad Nandakumar, Team Lead Chassis and Safety.

But increased cost of motoring is universal, and to address, industry-leader Omoove will discuss the rise in shared mobility. Private vehicle ownership costs are rising due to increased expenses such as soaring insurance premiums. As a result, we are moving from public and private transport being separate, to a more integrated multi-modal mobility network. Modern motorists are also affected by growing urbanisation and environmental awareness. "Shared mobility is becoming a global, social movement and is growing rapidly as drivers look for ways to keep on the roads sustainably. New and exciting technology is making this a reality and is allowing customers to shape their own carsharing and ridesharing communities, however they envision them," said Edwin Colella Chief Sales and Marketing Officer of Omoove.

During its upcoming annual industry event "Intelligent Mobility", taking place on 29th of June at the Jumeirah Carlton Hotel in London, Frost & Sullivan will offer visionary insights into the future of mobility from leading OEMs and tier-one suppliers, prominent industry thinkers, policymakers and disruptors from companies like Jaguar Land Rover, Facebook, Renault"“Nissan Alliance, the Financial Times, Mahindra & Mahindra, Transport for London, the Centre for Connected and Autonomous Vehicles, and many more.

Besides discussing Connected and Autonomous Vehicles, Intelligent Mobility will bring together industry experts on the Future of Mobility Trends, Freight Delivery and Healthcare, Wellness and Wellbeing in Cars. Moreover, the event will shed light on carefully selected auto tech startups and their particular business models to showcase the extent of disruption the industry faces. The conference will be complemented by a debate at the House of Lords and the Frost & Sullivan Intelligent Mobility Awards Banquet, a black tie evening and gala dinner.