A new market study, titled “Discover Global Autonomous Vehicle Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Automated or self-driving vehicles are capable of operating without direct driver action to control steering, acceleration and braking. Currently, vehicles may be computer-driven or computer-assisted driven, with various levels of autonomy, as well as connected features that allow exchange of data. Autonomous vehicle technology provides a large improvement in safety, help reduce congestion, improve vehicle fuel efficiency and provide increased mobility options.
Global autonomous vehicle market is expected to grow at a CAGR of XX% to reach market value of USD XXXX million by 2025.
Recently, vehicles have included extra safety features such as reversing cameras and sensors for obstacles in the driver’s blind spots. Typically referred to as driver-assist features, these features provide an early taste of the potential benefits of developments in autonomous vehicle technology. Advanced driver-assistance systems (ADAS) technology will also be important as the market prepares for full autonomy and seeks to increase profits from autonomous vehicle critical technology capabilities.
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The significantly rising number of accidents across the globe is expected to drive the growth of autonomous vehicle market in the forecasting period.
The growing awareness among consumers regarding the benefits of autonomous cars. Offer to customers, such as the enhanced mobility is projected to fuel the demand for autonomous cars in the forecasting period.
The global car sales is expected to grow in the forecasting period, but the annual growth rate is expected to drop slightly in the forecasting period. This drop will be largely driven by macroeconomic factors and the rise of new mobility services such as car sharing and e-hailing. This may hamper the growth of global autonomous vehicle market.
By driving type
The driving type include semi-autonomous and fully autonomous vehicles. Currently, semi-autonomous vehicles has major market and in the forecasting period the demand for fully autonomous is expected to grow with increasing features for driving assistance.
North America is expected to grow at a faster pace of autonomous cars due to the increase in technological advances in automotive.
Asia Pacific is also expected to witness a rise in the demand for autonomous cars in the forecast period due to the increase in awareness among customer, the significant increase in the disposable income of consumers and the forthcoming development in the information and communication infrastructure in China, Singapore, and Japan.
The increase in investment on R&D activities for autonomous vehicles by key players is driving the global market. Vehicle manufacturers and technology providers are investing in the development of private autonomous vehicles, including Tesla, Volvo, Ford, BMW, Audi, Google, and Apple. Other companies are focused on developing electric and autonomous shuttle buses, namely Navya, Auro Robotics, Varden Labs, Local Motors, and Easy Mile. Tesla, Mercedes, and Baidu are also investing in developing large driverless buses.
The increase in investment on new technological development and Companies are undergoing collaborations and partnership to develop autonomous vehicles is driving the growth of global autonomous vehicle market.
- In 2017, Ford has announced approximately USD 1 billion investment for developing autonomous vehicle technology.
- In 2016, the joint venture between Volvo and Uber to develop autonomous vehicles included a commitment to invest USD 300 million on their research and developments.
- GM, Nissan, and Mercedes are planning to release self-driving models by 2020. Mercedes are also working on a self-driving truck and it is expected to release by 2025.
Key market segments covered
BY DRIVING TYPE
- Fully Autonomous
BY VEHICLE TYPE
- Passenger vehicles
- Commercial vehicle
- Heavy duty vehicle
BY COMPONENTS TYPE
- Tracking devices
- Asia Pacific
- North America
- South America
- Rest of the World
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Why purchase the report?
- Visualize the composition of the Autonomous vehicle market across each indication, in terms of by driving type, by vehicle type and by components highlighting the key commercial assets and players.
- Identify commercial opportunities in Autonomous vehicle market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of the Autonomous vehicle market – level 4/5 segmentation
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
- Product mapping in excel for the Autonomous vehicle products of all major market players
- Raw Material Suppliers/ Buyers
- Product Suppliers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
Table of Contents
- GLOBAL AUTONOMOUS VEHICLE MARKET-SCOPE AND METHODOLOGY
- GLOBAL AUTONOMOUS VEHICLE MARKET –TRENDS AND DEVELOPMENTS
- INDUSTRY ANALYSIS
- GLOBAL AUTONOMOUS VEHICLE MARKET SEGMENTATION BY PRODUCT
- GLOBAL AUTONOMOUS VEHICLE MARKET – BY GEOGRAPHY
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
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