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Global Self-Driving Car Market – Industry Demand Analysis and Opportunity Evaluation, 2019-2027

11-08-2019 06:43 AM CET | Industry, Real Estate & Construction

Press release from: Kenneth Research

Global Self-Driving Car Market – Industry Demand Analysis 2019-2027

Global Self-Driving Car Market – Industry Demand Analysis 2019-2027

The United States is considered as the major hub for companies in autonomous vehicle development, whereas the country’s automotive vehicle manufacturers are focusing on establishing AV fleet and ride-hailing services. In 2018, the U.S. Department of Transportation published Automated Vehicles 3.0 for explaining their approach to autonomous vehicles.

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The study includes preparation for automation through pilot programs and guidance, prioritizing safety, and enhancing and protecting the freedom of country’s citizen freedom by emphasizing autonomous vehicles along with human-motorized vehicles and other road users. The country is the home for maximum number of autonomous vehicles companies, with having 163 headquarters and the second place is hold by Germany with 22 company’s headquarters. Several companies including Detroit-based Big-3 automotive manufacturers and other ride-sharing companies such as Lyft and Uber are also focusing on R&D for the development of AVs. On the basis of infrastructure, the country has relatively very few number of charging stations for electric vehicles.

The United Kingdom has started altering their standards and regulations and has also offered financial support for introducing driverless cars in the country by 2021. The Department for Transport is planning to legalize the driverless cars to operate on public roads and also establishment of a Center for Autonomous and Connected Vehicles. In November 2017, the finance minister of the country announced more support for electric vehicles as the antecedents to AVs.

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Germany is considered as the one of the major country for the research and development, industry partnerships and road infrastructure quality for the deployment of autonomous or self-driving vehicles. The mass production of self-driving vehicles in the country involves development of software prototype and the production of electronic components. Various autonomous vehicle manufacturing players in German market have entered into the strategic alliance for facilitating and supporting vehicles testing.

For instance, In 2018, BMW AG announced the partnership with KPIT Technologies Limited and TTTech Computertechnik AG for the research and development of software for supporting level 3,4,5 function of self-driving vehicles and facilitating autonomous driving among people.

In the European market for self-driving or autonomous vehicles, Germany contributes majorly to market owing to presence of numerous OEMs which are focused on producing self-driving car models with higher level of automation. Furthermore, automotive manufacturers along with their tier-1 suppliers in the country owns about 51.0% of the patents filed between 2010 to 2017 out of 5,800 autonomous vehicle filed patents globally.

In Asia Pacific, Singapore is also considered as one of the major country contributing to the development of self-driving cars. For instance, In October 2019, ABB received a contract for delivering and commission integrated smart charging points for automated guided vehicles (AGV) in Tuas port of Singapore. The contract includes designing and supplying of charge point, 450kW high power chargers, transformer and associated control and monitoring equipment and medium and low voltage switchgear.

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About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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https://www.marketwatch.com/press-release/global-self-driving-car-market-industry-demand-analysis-and-opportunity-evaluation-2019-2027-2019-11-07

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