Autonomous Cars Market Forecast Showing 14% CAGR to 2024 | Analysis by Leading Key Players - Autoliv, BMW, Bosch, Continental, Ford, General Motors, Hyundai, Toyota, Uber, Volkswagen, Tesla, Intel, Jaguar, Nissan, Honda, Aptiv, Waymo, Volvo

Market Study Report recently introduced new title on “2018-2024 Global Autonomous Cars Market Report” that provides an in-depth overview of industry and competitive landscape, covering multiple market segments and elaborates market outlook and status to 2024.

Autonomous Cars Market is anticipated to exceed 60 million units by 2024. The market is driven by the increasing R&D activities for the development of self-driving technology. The automakers around the world are implementing various strategies to accelerate the innovations in the self-driving vehicles landscape. The autonomous cars industry is promising lucrative returns to all the parties involved in the production & distribution of autonomous technology. In addition, the growing concerns about vehicle safety among the regulatory authorities have driven them to implement stringent vehicle safety regulations.

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The technological advancements in the autonomous industry are fast outdoing the existing regulatory framework. Therefore, the gap between the regulatory framework and the self-driving technology is steadily widening. Moreover, the lack of adequate road infrastructure is also plaguing the growth of the autonomous cars market.

Europe accounted for a major stake of over 40% in the autonomous cars market in 2017. The presence of major automakers and the increasing number of investments in the auto tech sector have supported the growth of the market. The government in the region has also invested extensively to improve the road and telecom infrastructure to help self-driving cars to communicate with the surrounding environment in a better manner.

The level 1 autonomous cars are expected to account for over 90% of the autonomous market. The market is driven by the growing number of vehicle safety concerns around the world. The government authorities are consistently working on improving the safety of these cars by mandating the use of ADAS systems in the vehicles. This has led automakers to launch their own level 1 self-driving solutions. The level 4 cars are still in the development phase and are expected to be commercially available by 2022. The automakers have increased their R&D spending to intensify their efforts for the development of self-driving cars. The companies are obtaining licenses from various local authorities to test their level 4 self-driving technology.

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The North American region is anticipated to grow steadily over the projected timespan with a CAGR of over 14% in 2017. The market growth is driven by the presence of large technology players and supportive government policies. The Asia Pacific region is also expected to witness a high growth rate with a CAGR of over 15% in 2017. Governments of countries such as Japan and China have allowed the testing of autonomous vehicles on public roads. The government authorities are collaborating with automakers and universities to introduce self-driving cars on public roads.

The players in the autonomous cars market are Waymo, Autoliv, BMW, Bosch, Continental, FCA, Ford, General Motors, Hyundai, Toyota, Uber, Volkswagen, Nvidia, Subaru, Tesla, Intel, Jaguar, Nissan, Honda, Daimler, Baidu, Aptiv, and Volvo. The automotive cars market is highly competitive due to the presence of a large number of players in the market.

The players in the autonomous cars market are focusing on strategic partnerships to increase their market share and attain an edge over their competitors. For instance, in 2018, Renault, Nissan, and Microsoft have signed a multiyear partnership to develop advanced autonomous vehicle technologies. The new technologies will improve the driver experience through advanced navigation, predictive maintenance, and remote monitoring features. Similarly, in 2017, Velodyne collaborated with Autoliv to develop & market auto-grade LiDAR sensors. Under this agreement, both the companies will provide key components, technologies, and the intellectual know-how to develop affordable and high-performance LiDAR solutions for the automotive market.

Table of Contents

Chapter 1. Autonomous Cars Market Methodology and Scope

Chapter 2. Autonomous Cars Market Executive Summary

Chapter 3. Autonomous Cars Industry Insights

Chapter 4. Autonomous Cars Market Competitive Landscape

Chapter 5. Global Autonomous Cars Market, By Level of Autonomy

Chapter 6. Global Autonomous Cars Market, By Type

Chapter 7. Global Autonomous Cars Market, By Region

Chapter 8. Autonomous Cars Market Company Profiles

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