Connected and autonomous vehicles could bring transportation costs down to under $1 per mile, says research specialist Frost & Sullivan which is hosting an Intelligent Mobility conference in London today.
For consumers the cost of travel per mile is currently highly volatile and dependent on factors including location, mode of transportation and time of travel, the company points out. As a result cost per mile can vary from under $1 for most public transportation systems to more than $12 for taxis.
But in future cost reduction can be expected from new technology developments such as dynamic routing, which will allow for smarter allocation of taxis to customers.
Furthermore, explains Frost & Sullivan’s team lead for chassis, safety and autonomous driving Arunprasad Nandakumar, “the biggest potential for decreasing the price per mile is provided by autonomous systems replacing drivers, which will make it possible to save the 30 to 40% of the cost we pay for the ride”.
The conference will also address a rise in shared mobility brought about due to the increased cost of private vehicle ownership – caused by factors such as soaring insurance premiums. Modern motorists are also affected by growing urbanisation and environmental awareness.
As a result, we are moving from public and private transport being separate to a more integrated multi-modal mobility network, according to shared mobility specialist Omoove’s chief sales and marketing officer Edwin Colella.
“Shared mobility is becoming a global, social movement and is growing rapidly as drivers look for ways to keep on the roads sustainably,” he said. “New and exciting technology is making this a reality and is allowing customers to shape their own car sharing and ride sharing communities, however they envision them.”