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Autonomous Cars Market | 2018-2024 Booming Future: Top Companies - (BMW Group, Baidu, Ford Motor Company, General Motors, Nissan Motor Corporation, Tesla, Volvo Cars, Uber, Toyota Motor Corporation)

Press release from: Automobile Industry
Autonomous Cars Market
Autonomous Cars Market


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 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.

Industry Growth drivers:

1. Increasing R&D activities for development of self driving vehicles
2. Rising investment in Auto-Tech
3. Supportive government initiatives
4. Widespread adoption of ADAS platform
5. Advancement in LiDAR technology

Internal Combustion Engine (ICE) cars hold a majority share in the autonomous cars market with a market share of over 95% in 2017. This growth is attributed to the high demand for ICE-based cars in emerging nations such as India and Brazil. However, the rising concerns toward environmental safety and the increasing number of government regulations to reduce carbon emissions have restricted the growth of the ICE cars market. The supportive government policies such as tax benefits and subsidiaries are fostering the growth of the Hybrid Electric Vehicle (HEV) market.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1.Aptiv PLC
2. Autoliv Inc.
3. Baidu Inc.
4. BMW AG
5. Bosch GMBH
6. Continental AG
7. Daimler AG
8. Fait Chrysler Automobiles
9. Ford Motor Company
10. General Motors Company
11. Honda Motor Company Ltd.
12. Hyundai Motor company
13. Intel Corporation
14. Jaguar Land Rover Limited
15. Nissan Motor Company Ltd.
16. Nvidia Corporation
17. Subaru of America, Inc.
18. Tesla Inc.
19. Toyota Motor Corporation
20. Uber Technologies Inc.
21. Volkwagon Group
22. Volvo Car Corporation
23. Waymo

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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 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 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.

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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.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Corporate Sales, USA
Global Market Insights, Inc.
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