Press release
36.2% CAGR growth by 2023 in Autonomous/Driverless Vehicles Market| Top Players – Uber, Mercedes-Benz, Google (Waymo), Toyota, Nissan, Volvo, Volkswagen, Tesla, BMW, amongst others
Market Analysis:Asia-Pacific to dominate the market
North America would lead the market at first, but Asia-Pacific, with the presence of fastest adopters like China and Japan, is estimated to control the dominant 35% share by 2025. Increased safety, lower insurance and fuel costs and the ability to multitask while traveling are going to boost the market.
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Autonomous cars use the techniques such as RADAR, LIDAR, GPS and computer vision to sense their environment. Although Level 4 and Level 5 (as scaled by SAE) autonomous cars are unlikely to reach wide acceptance by 2025, there would be a rapid growth for Level 2 and Level 3 autonomous cars which have advanced driver assistance systems like collision detection, lane departure warning, and adaptive cruise control. Although the technology for manufacturing the autonomous cars is readily available, the concerns about liability and legislation are going to constrain the market.
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Market Segments:
Autonomous/Driverless Vehicles Market is segmented by:
1. Type: Semi-Autonomous Vehicles, Fully Autonomous Vehicles
2. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa
Key Developments in the Market:
• January 2018: Waymo strikes deal to buy thousands of self-driving minivans from Fiat Chrysler.
• January 2018: GM started testing autonomous technology on Cadillac cars in Israel.
• December 2017: Ford patents autonomous police car to hand out tickets.
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