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Autonomous/Driverless Market is expected to grow at a CAGR of 36.2% during the forecast period| Key players- MERCEDES-BENS, AUDI, WAYMO (GOOGLE), BMW amongst others

04-25-2019 07:46 PM CET | Logistics & Transport

Press release from: Market Prognosis

Market Analysis:

Asia-Pacific to dominate the market
Increased safety, lower insurance and fuel costs and the ability to multitask while traveling are going to boost 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.

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Autonomous cars use the techniques such as RADAR, LIDAR, GPS and computer vision to sense their environment. Advanced Control Systems that are integrated into the car can interpret the sensory inputs to detect the signboards or to avoid the collision. Although the technology for manufacturing the autonomous cars is readily available, the concerns about liability and legislation are going to constrain the market. Countermeasures like built-in backup systems and the option to take over the car whenever the driver wishes are the things that need to be considered in order to capture the market.

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Market Segments:
Autonomous/Driverless 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:
• 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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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today's complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

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