Will You Work More or Seek Entertainment With Your Non-Driving Time?

We’ve gained our own insights on when exactly autonomous cars will be mainstream. In a series of surveys conducted by Cushman & Wakefield onsite at CoreNet Global Summits in North America, Asia and Europe, corporate real estate executives say that the prevalence of autonomous vehicles (AV) will occur between 2025 and 2034.

However, a fifth of respondents don’t expect AV dominance to happen until after 2040. Pessimism is highest in EMEA (Europe, Middle East, Africa). Only half of respondents from companies whose headquarters are in EMEA expect this to take place by 2034, compared to 74 percent of Asia Pacific and 77 percent of American respondents. Additionally, 21 percent of EMEA CRE executives believe it won’t happen before 2050.

The survey also gauged various impacts of the advent of autonomous vehicles:

  • AV technology will not impact the quantity of office space required by most companies. This is consistently true across regions and business sectors.
  • One-fourth of respondents expect to have a difficult (and/or costly) time repurposing parking facilities in their portfolio that become obsolete with the implementation of AV technology. This is a significantly larger issue for companies whose headquarters are in the Americas.
  • Nearly twice as many Asia Pacific-headquartered companies expect telecommuting to increase (33%) as opposed to decrease (18%).
  • Confidence is high that time currently spent driving or actively commuting will be replaced by work activities. Overall, 69% of respondents indicate they will use the time saved by AVs to either conduct business phone calls or complete work. This expectation is highest for CRE executives who live in the Americas (76 percent) and lowest in EMEA (59 percent). Respondents who live in EMEA are nearly twice as likely to use the time for entertainment.

See more on the study here.