Autonomous Car Market World's Top Players Include Tesla, Ford Motors, Ford Motors, Waymo, Volkswagen Group, BMW, Renault SA, Audi, Hyundai, Honda, Toyota, Mercedes, Kia Motors

Autonomous cars, also called driverless cars, self-driving cars, robot car or autonomous vehicles (AVs), are vehicles that can navigate to a predetermined destination without the help of human guidance. The integration of advanced vehicle systems such as ADAS, AEBS, comprehensive vehicle tracking systems, remote controlled systems, and advanced vehicle to everything (V2E) connectivity in autonomous cars are expected to be the nascent technological developments paving way for autonomous cars market over the forecast period.

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Market Drivers:

Advancement in technology and growing demand for electric vehicles is driving growth of autonomous car market. The adoption of advanced embedded systems in automotive industry has increased significantly over the past two decades. This is due to deployment of these systems in emerging telematics products and in-vehicle infotainment for automotive. Tire pressure monitoring systems, airbags, anti-lock braking system, satellite radio, telematics, and emission control are some of the prominent applications that require incorporation of an embedded system for their operations.

Level 4 segment is expected to exhibit the highest CAGR over the forecast period (2018 - 2035)

Among level of automation, level 4 segment is expected to exhibit the highest CAGR over the forecast period. The demand for level 4 autonomous vehicles is increasing due to rising road accidents across the globe. For instance, according to the National Highway Traffic Safety Administration (NHTSA) analysis, around 90% road accidents are majorly caused due to human errors. Therefore, rising road accidents are considered to be the most prominent factor for automakers to increase integration of safety system in the car, which further helps in increasing the safety of the vehicles as well as pedestrians walking on the road.

Passenger car application segment held dominant position in the global autonomous car market in 2017

Autonomous passenger cars features various technologies such as GPS sensors to help with navigation and sensors to avoid collisions. They also have the ability to use augmented reality, where a vehicle displays information to drivers in innovative ways. General Motors is expected to start production of fully autonomous cars in 2019, with no steering wheel or ability for drivers to intervene. Companies are majorly investing in the development of passenger cars.

Asia Pacific autonomous market is projected to witness the highest CAGR in the forecast period

Asia Pacific is expected to be the fastest growing region in the autonomous car market over the forecast period. Increasing vehicle manufacturing and high demand for electric vehicles in economies such as China and Japan are expected to drive growth of the regional market. According to the International Energy Agency’s Global EV Outlook, China led the electric vehicles market in 2016, accounting for sale of over 40% electric cars worldwide. Hence, increasing demand for electric vehicle is propelling demand for autonomous cars.

Key companies

Major players operating in the global autonomous car market include Tesla, Ford Motors, Ford Motors, Waymo, Volkswagen Group, BMW, Renault SA, Audi, Hyundai, Honda, Toyota, Mercedes, Kia Motors, Baidu, Inc., Samsung Electronics, Inc., NVIDIA Corporation, Mobileye, Inc., Delphi Automotive System LLC, and NXP BlueBox. The market players are adopting various growth strategies such as mergers & acquisitions, product launches, collaborations, geographic expansions, and others to expand their market presence.

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• Global Autonomous Car Market, By Level of Automation:

o Level 1
o Level 2
o Level 3
o Level 4
o Level 5

• Global Autonomous Car Market, By Application:

o Passenger Cars
o Public Transportation
o Commercial Applications
o Air Taxis

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This release was published on openPR.