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L4 Autonomous Driving Market by 2027 Recent Advancements and Future Challenges | Top Companies: Waymo, General motors, BMW, Audi, Jaguar, Volkswagen, Ford, Robert Bosch, Daimler, Tesla
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COVID-19 scenario analysis:
• The novel coronavirus pandemic has caused a huge increase in demand, as people around the world are self-isolating, quarantining or working from home for extended periods.
• At a time when people around the world are observing social distancing measures to halt the spread of the global COVID-19 pandemic, autonomous vehicle offers mobility with minimal human interaction.
• Further, the pandemic is putting pressure on deliveries and local logistics.
• Driverless vehicles in China are being utilized to sterilize hospitals, deliver groceries, transport medical aids, and even deliver meals to isolation wards and the individuals who are tested positive for the virus.
• Besides, the autonomous vehicles are being utilized to disinfect streets and deliver food in order to stop the spread of the novel coronavirus.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Rising safety concerns and increasing demand for driverless driving is fueling the market for L4 autonomous driving market. Additionally, the government initiatives to launch autonomous vehicles and increasing infrastructural investments is fostering the market of L4 autonomous driving. Besides, growing connectivity and rising internet speeds is driving the market growth. Moreover, development of smart cities and rising demand for IoTs is proliferating the market. However, high cost of vehicle and burgeoning threat from hackers would affect the L4 autonomous driving market. Furthermore, the wide adoption of connected vehicles is expected to provide opportunities to L4 autonomous driving market.
The L4 autonomous driving market trends are as follows:
Innovation to drive market growth
The automotive manufacturers are constantly striving for innovation in order to meet the rising demand from consumers. Besides, the autonomous vehicles, being the future of mobility and would work without any human interaction, needs high precision engineering. For instance, in 2017, Magna International unveiled MAX4 concept to enable L4 capabilities in both urban and highway environments. Besides, the technology can be integrated into any vehicle without compromising interior or exterior design.
Development of autonomous cabs to bolster the market
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Level 4 autonomous vehicles or self-driving vehicles have a high level of automation in which the vehicle can perform all driving tasks and monitor the driver's environment. The adoption of self-driving cars for the purpose of cab sharing or taxi services has increased in recent years. In 2019, Waymo’s L4 self-driving taxi service completes more than 100,000 trips. Besides, in 2019, Baidu, Pony.ai and WeRide succeeded in commercial pilot of Robotaxi on complex urban roads in limited areas, a crucial step for L4 autonomous driving in China.
Key benefits of the report:
• This study presents the analytical depiction of the L4 autonomous drivingindustry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed L4 autonomous driving market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the L4 autonomous driving market research report:
• Which are the leading market players active in the L4 autonomous driving market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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