Autonomous Vehicles Market for level 1 cars will grow at a CAGR of 6% | By Key Vendors Autoliv, Baidu, BMW Group, Daimler AG, Ford Motor Company, General Motors, Intel Corporation, Nissan Motor Corporation, Tesla, Toyota Motor Corporation, Volvo cars
The North American region is anticipated to grow steadily over the projected timespan with a CAGR of over 14% in 2017. The autonomous vehicles market growth is driven by the presence of large technology players and supportive government policies.
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Europe accounted for a major stake of over 40% in the autonomous vehicles 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 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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Ford Motor Company
• General Motors Company
• Honda Motor Company Ltd.
• Hyundai Motor company
• Intel Corporation
• Jaguar Land Rover Limited
• Nissan Motor Company Ltd.
• Nvidia Corporation
• Subaru of America, Inc.
• Tesla Inc.
• Toyota Motor Corporation
• Volvo Car Corporation
• Aptiv PLC
• Autoliv Inc.
• Baidu Inc.
• BMW Group
• Bosch GMBH
• Continental AG
• Daimler AG
• FCA Fiat Chrysler Automobiles
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The level 1 autonomous vehicles 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.
Internal Combustion Engine (ICE) cars hold a majority share in the autonomous vehicles 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.
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The players in the autonomous vehicles 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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