Driverless Cars Will Save the World Economies Billions [Infographic]
Experts at Global Positioning Specialists recently put together a report detailing how much money driverless technology could save various countries and the world economy.
It’s no surprise that traffic accidents can cost a country quite a bit of money, but just how much money is shocking. And what’s even more impressive is how much money driverless technology can save a country.
It’s been established that with Driverless Vehicles, costs associated with car crashes would drop by 90%.
“Today, car crashes have an enormous impact on the US economy. By midcentury, the penetration of Driverless Vehicles could ultimately cause vehicle crashes in the United States to fall from second to ninth place.” – McKinsey & Company
So, how much money are we actually talking about here?
In total, the 73 countries surveyed could save a combined $890 Billion.
Here’s how that $890 Billion plays out:
- United States – currently spends over $340 Billion every year on traffic accidents. Could save up to $306 Billion with Driverless Vehicles.
- India – spends over $62 Billion every year on traffic accidents. Could save up to $56 Billion.
- Japan – spends over $53 Billion. Could save up to $48 Billion.
- Germany – spends over $40 Billion. Could save up to $36 Billion.
- Russia – spends over $34 Billion. Could save up to $31 Billion.
What’s interesting is that “while the United States loses the most GDP to traffic accidents, South Africa has the highest percentage of GDP lost to traffic accidents in the world (7.8%).” – GPS.com.au