In the first ever comprehensive analysis of the UK opportunities provided by this new technology, KPMG has found that these new vehicles will deliver a £51 billion boost to the UK economy and reduce serious road traffic accidents by more than 25,000 a year by 2030. Crucially, it also forecasts the UK will be a global leader in the production of this next generation of vehicles.

The figures will be announced at this morning's (26 March) SMMTConnected event, the first ever industry-wide event in Britain to explore the opportunities and challenges ahead and demonstrate how the UK automotive sector is already developing the cars of the future. Leading experts from BMW, Bosch, Ford, Jaguar Land Rover, Nissan and Volvo will champion their efforts to develop intelligent vehicles and discuss how society as a whole can benefit from this latest technology.

Transport Minister Robert Goodwill MP and Ed Vaizey MP, Minister for Digital Economy, will each provide keynote speeches at the event, which will be attended by 20 vehicle manufacturers from across the UK and more than 300 representatives from insurance providers, telecoms, academics, local government and software providers.

“Connected and autonomous cars will transform our roads and the way our society functions for generations to come, dramatically reducing accidents and helping to deliver more than £50 billion to our economy," commented Mike Hawes, SMMT chief executive.

"The KPMG report clearly shows the UK automotive industry is leading the way in developing the cars of the future and that it will act as a catalyst for wider economic benefits that will create more than 300,000 jobs by 2030. The UK must grasp the opportunities ahead and ensure it is continually at the forefront of pushing through these next breakthrough technologies.”