It added that between now and 2035, IHS estimates that nearly 76 million vehicles with some level of autonomy will be sold globally.

“Global sales of autonomous vehicles will reach nearly 600,000 units in 2025,” said Egil Juliussen, director of research at IHS Automotive. “Our new forecast reflects a 43% compound annual growth rate between 2025 and 2035 – a decade of substantial growth, as driverless and self-driving cars alike are more widely adopted in all key global automotive markets.”

The firm said new mobility solutions such as ride sharing and car sharing programs, increasing investment in autonomy by OEMs, suppliers and technology companies alike, research and development centres underway and improved efficiencies are expected to impact the further proliferation of automotive technologies.

It added that the United States will lead the world in initial deployment and early adoption of autonomous vehicles, while Japan will simultaneously ramp up industry coordination and investment ahead of the Summer Olympics in Tokyo in 2020.

Major markets in Western Europe will lead the EMEA region, with a little more than three million autonomous vehicles expected to be sold in 2035 and another 1.2 million vehicles in Eastern Europe. IHS Automotive also forecasts more than 1 million vehicles with some level of autonomy in the Middle East and Africa in 2035.