Dubai Economy activates 2nd Future Economy Lab
Wednesday, 09 23 2020, Category: Economy, Country: U.A.E
Dubai Economy has launched the second cycle of its Future Economy Labs with a series of hacks (workshops) covering sectors critical to life after COVID-19, such as Transport, Healthcare, Cashless Economy, Education Technology (EduTech) and Agriculture Technology (AgriTech), among others.
The first workshop in the second cycle, which was held recently, discussed the 'Future of Mobility' focusing on the need to identify new opportunities in the mobility sector and develop an accompanying vibrant mobility ecosystem that will boost economic recovery.
Nationwide lockdowns and curfews that followed COVID-19 have had an immediate impact on the automotive sector, locally and globally. Reduced mobility of people and goods, sluggish demand for new car sales and low consumer confidence, along with changes in consumer behaviour, have reinforced the need for innovative and efficient mobility solutions.
The Future of Mobility hack focused on Connected, Autonomous, Shared and Electric, CASE, mobility, which are expected to have the most significant impact on the automotive sector, particularly in the spheres of personal transport and goods movement. The global market for connected and autonomous vehicles and services could exceed $2.8 trillion (more than AED 10 trillion) by 2030, according to a report by Frost & Sullivan. The market value of new shared mobility models, like e-hailing, taxis, P2P car sharing, Demand Responsive Transport, Mobility as a Service and corporate car sharing, can reach $1.8 trillion. Electric vehicle sales alone will be $1.8 trillion.