When it comes to transportation in the US, most people drive themselves. The US Census Bureau's American Community Survey 5-year estimates for 2014 indicate that about a quarter of American workers get to work primarily by driving themselves. In 2014, there were 214 million licensed drivers in the US, and light vehicles traveled 2.7 trillion miles.

However, according to the Bureau of Economic Analysis, between 2000 and 2015 consumer spending on public transportation services outgrew spending on new motor vehicles, with the former increasing at a compound annual growth rate (CAGR) of 2.2 percent and the latter at a CAGR of 1.8 percent. In 2015, consumer spending on public transportation exceeded $100 billion in the US for the first time ever.

While the potential of autonomous vehicles should not be underestimated, it would be a mistake to ignore other fast-growing technologies in the transportation industry.

Before self-driving cars become the norm, a host of other innovations will change how people move. Read on to learn about four global transportation markets that are poised to achieve exponential growth by 2020.

Soaring demand growth and skyrocketing prices are making 2016 a very exciting year for lithium — the highly reactive, silvery white metal that has revolutionized the rechargeable battery industry. Portable electronics, including everything from smartphones to laptops, rely on lithium-ion (Li-Ion) batteries. But it will be electric vehicles (EVs) that drive lithium sales going forward, boosting prices while placing increasing pressure on global supplies. 

Key players in the auto industry are facing new challenges and opportunities that could shake up the U.S. market in the months and years to come. Volkswagen’s sales showed tepid growth in the wake of the emissions-cheating scandal, while Subaru set new sales records in the month of September. Meanwhile, tech and auto companies alike are vying for position in the self-driving and electric car markets. Apple plans to release an electric car in 2019 and is tripling its 600-person team to accelerate its efforts. General Motors is competing with Google in the self-driving car arena and plans to test driverless Chevrolet Volts by late 2016. To learn more, read the auto industry recap below.

As the global population increases, we are seeing a rise in how many cars are out there, especially in emerging markets. The number of vehicles on the road worldwide is projected to triple by 2035, to as much as 3 billion vehicles. With these numbers, companies are going to have to continue to innovate and create the vehicles consumers want in order to keep their sales up.

Technology continually serves as the underlying factor in the changes that occur in different industries. For the transportation and automotive industry, technology has continued to push innovations in efficiency, lightweight materials, connectivity, and energy. Companies within the industry notice trends resulting from these improvements for future automotive developments. The North American automotive industry is not only the biggest market, but it is also the technological leader across the globe with some of the biggest names in the industry. With the market recovering since the recession, the next five years are expected prompt major changes that will impact the way cars are manufactured and used.

The digitization wave sweeping through the automotive industry has disrupted the dynamics in car retailing, giving rise to a bricks and clicks model to complement the time-worn system of automotive dealerships.

According to Frost & Sullivan’s latest study on the global automotive industry, online transactions will account for four percent of the total global car sales by 2020; that translates to exclusive online sales of more than 50,000 cars belonging to brands ranging from Daimler, Renault, and BMW-I to Dacia and Ford. Plus, the number of mobile payment users is expected to rise by 16 percent, exceeding the one billion mark by 2025.

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MarketResearch.com partners with over 700 publishers to offer customers the most comprehensive collection of diverse business intelligence. Each publisher has its own story and offers unique and insightful perspective into the industries they cover. This week, MarketResearch.com is spotlighting global multi-industry information provider Global Research & Data Services. Read on to learn more about Global Research & Data Services and their products.