The global liquor industry could benefit from a $100 billion boost thanks to the advent of autonomous driving technology or shared riding modes, new research by Morgan Stanley has revealed. That no doubt will serve to further stimulate the alcohol industry that already is estimated at a whopping $1.5 trillion worldwide.
The idea is simple. With people now having the option of letting Uber drive them home, there is no stopping them to go for more drinks. The same also applies to autonomous driving even though the technology is still being perfected. According to the Morgan Stanley research paper, an average of one extra drink per week could be the new norm though the figure will certainly vary from city to city, or during occasions.
Drinking and driving has always been considered a dangerous combination. However, with driving removed from the picture, people no doubt will have a free run at drinking to their heart's content, something that they might have been holding back on had they been required to drive home.
This again should lead to lesser accidents due to drunk driving. Uber is already claiming they have been able to prevent 1,800 cases of drunken driving induced car crashes since its launch in 2012. However, a research by University of Southern California and Oxford University refuted Uber's claim stating they found no evidence to believe the reduction in crashes has been due to using Uber's service. There have been 9,967 cases of deaths from car crashes involving drunk drivers in 2014 alone.
The Morgan Stanley research further revealed the total addressable market of world alcohol market will grow even more post 2025 by which time self-driving cars is expected to become more commonplace. All of this no doubt will be sweet piece of news to the world brewery industry with the premium beer and liquor brands likely to be more in demand.