Will the Self-Driving Car Industry Be Worth $42 Billion in Just 10 Years?

A new forecast has predicted that self-driving car technology will grow into a $42 billion industry in just a decade--but that can only happen if everyday consumers trust auto-pilot technology.

Boston Consulting Group has said that autonomous vehicles may be common on roads as soon as 2017, expanding to an industry worth $42 billion by 2025, Bloomberg reported.

With the self-driving BMW i3 and other connected cars headlining at this year's CES, cars that will take you to your destination with no hands needed on the steering wheel seem closer than ever.

Technology enthusiasts may be OK with a car that picks its own parking spot, but what about the everyday buyer?

In a recent survey from uSwitch.com, nearly half of British consumers said they wouldn't want to be a passenger in an auto-pilot vehicle, 16 percent of them "horrified" at the thought, the Independent reported. The study found that 43 percent of those surveyed didn't trust self-driving cars, and many consumers are confused about who will be at fault during an autonomous vehicle collision.

Cars with auto-pilot technology will soon be tested in Bristol, Coventry, Greenwich and Milton Keynes.

"Many people don't realize how far along some of these technologies are," said Xavier Mosquet, North Ameria leader of Boston Consulting Group's automotive practice, as quoted by Bloomberg. "Even more surprising, consumer interest and the production costs will make autonomous vehicles highly attractive to both carmakers and their customers."

When asked about self-driving technology at CES, Ford CEO Mark Fields was similarly optimistic but said the American automaker won't be the first to launch an autonomous vehicle.

"It's moving very, very fast," Fields told a Bloomberg TV. "So our view is that within five years somewhere in the industry, someone will introduce the vehicle."

But because Ford's main concern is offering affordable rides, the carmaker likely won't be selling the first self-driving car to come to the market.

"We want to make sure [autonomous technology] is accessible and affordable for the masses because we're Ford," Fields said.

Yet another grain of salt to add to the mix is the fact that Google's famous self-driving fleet, which has touted its successful 700,000 miles driven, still can't navigate rain, snow or unfamiliar roads, limiting it to ideal conditions and courses that have already been mapped out in great detail.