Companies Still Holding Back on Vehicle Mobility Investments, Survey Says

Autonomous vehicles are getting scant corporate investment, according to a Mobility Buzz survey released today.

Only about 2% of respondents to the Mobility Buzz State of Mobility survey indicated that their company is investing in the development of autonomous vehicles. Instead, respondents are still predominantly focusing on online and mobile apps: 44% of respondents said their companies are actively investing in digital apps.

Overall, only 5% of companies surveyed said they were investing in any kind of transportation mobility ventures, including drones, rideshare, autonomous vehicles, or vehicle data analytics. But there is hope: twice as many people — 11% of the respondents — indicated that those mobility sectors are “the most valuable” for consumers today.

Despite the global VC growth in the past year, mobility-related investments are not yet on the forefront. Overall, global VC grew 19% year over year in 2016, reaching a five-year-high of $176 billion. In the U.S., however, the amount was down 11%, to $76 billion, according to to Global Innovation Investment Report by Crunchbase.

Investments in transportation-related companies reached $16 billion last year. That’s a whooping 75% increase compared to 2015, but is largely driven by several big-ticket acquisitions, such as Didi Chuxing’s $7 billion purchase of Uber China, or General Motors’ $1 billion deal with Cruise Automation.

The Mobility Buzz State of Mobility survey gathered responses from about 300 executives in various sectors of the mobility industry, such as aircraft industry, fleet management, telematics, software providers, and traditional OEMs.  

Check out more survey results here.

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