The High Cost Of The Autonomous Vehicles Is Hindering The Autonomous Car Market Growth

Autonomous cars have the potential to change all the aspects of mobility and transform the automotive industry in the years to come. Soon in the future, people will be able to summon their cars from parking lots with just a few clicks on their smartphones. Several mobility and technology firms, together with suppliers and automakers are hard at work to translate this picture of autonomous cars into reality. Vehicles are being incorporated with advanced features, such as cross-car communication, backup cameras, emergency braking, self-parking systems, and adaptive cruise control, etc., to facilitate safe driverless mobility.
The path of Autonomous Car Market success majorly relies on advanced driver assistance systems (ADAS) and consumer acceptance.

Automotive ADAS technology is being incorporated in new vehicles to turn partial automated driving (Level 2) into reality and gain more customer acceptance by making autonomous driving safer. Several automotive companies are collaborating with ADAS technology providers to add advanced features in their cars and stay ahead in the race of achieving autonomy in vehicles. For instance, Velodyne Lidar, Inc., recently collaborated with Hyundai Mobis to launch a new Lidar-based ADAS system, which is important in high-level autonomous driving. The company believes that such a system can enhance safer mobility globally.

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Along with efforts by Autonomous Car Market players, governments of various countries are supporting the development of autonomous cars to revolutionize transportation and mobility in their respective nations. Lately, the U.K. government moved forward to show its support for the autonomous cars industry and announced that a procedure is being developed to support the trials of automated vehicles. Also, advanced trials approvals are subject to some severe safety evaluations. Such initiatives are encouraging automobile companies to develop more advanced safety features in their autonomous cars.

In order to enhance the safety of autonomous driving and enhance autonomous driving experience, numerous technology companies are developing innovative gadgets and equipment. Companies are raising funds and attracting investments from big investors to push their research and development process.

For instance, Arbe has designed a high-resolution radar chipset to help Autonomous Car Market in detecting objects in their routes. The company has claimed that its chipset will enable Level 3 automation in vehicles with more accurate decision making. Also, it has secured an investment of $32 million in a Series B funding to ramp its game up in autonomous vehicle technology.

Many innovative technologies are being developed by automakers to sustain in the highly competitive landscape of autonomous cars. Incorporation of various advanced technologies is required to reach the milestone of manufacturing a fully automated and safe car to drive on roads. Recently, automakers Daimler and Bosch have secured approval for their fully automatic driverless SAE Level 41 parking system. The automatic valet parking assistance can be operated through an app and does not need safety driver.

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While many are awaiting the arrival of Autonomous Car Market, there exists serious apprehensions regarding the safety index of these vehicles. For autonomous cars to run safely, it is necessary to see and understand the world around them in real-time. Also, complexities associated with understanding how these cars work is another key area of concern. In response, autonomous car companies are investing aggressively in R&D and technology development to influence consumer acceptance of this technology. Governments and companies are mutually advancing the world’s expansion of technology and power autonomous cars to modernize mobility and customer’s driving experience soon.

Table of Contents (ToC) of the report:

Chapter 4. Competitive Landscape
4.1. Introduction
4.2. Auotmotive manufacturers, 2017
4.2.1. General Motors
4.2.2. Volkswagen
4.2.3. Toyota
4.2.4. Daimler
4.2.5. Ford Motors
4.3. Technology players, 2017
4.3.1. Waymo
4.3.2. Cruise
4.3.3. Apple
4.3.4. Baidu
4.3.5. Uber
4.4. Other prominent vendors

Chapter 5. Global Autonomous Cars Market, By Level of Autonomy
5.1. Key trends, by level of autonomy
5.2. Level-1
5.2.1. Market estimates and forecast, 2015 - 2024
5.2.2. Level-1 cars market, by type, 2015 - 2024
5.3. Level-2
5.3.1. Market estimates and forecast, 2015 - 2024
5.3.2. Level-2 cars market, by type, 2015 - 2024
5.4. Level-3
5.4.1. Market estimates and forecast, 2015 - 2024
5.4.2. Level-3 cars market, by type, 2015 - 2024
5.5. Level-4
5.5.1. Market estimates and forecast, 2015 - 2024
5.5.2. Level-4 cars market, by type, 2015 - 2024

Chapter 6. Global Autonomous Cars Market, By Type
6.1. Key trends, by type
6.2. Internal combustion engine (ICE) vehicle
6.2.1. Market estimates and forecast, 2015 - 2024
6.3. Hybrid electric vehicle (HEV)
6.3.1. Market estimates and forecast, 2015 – 2024
6.4. Battary electric vehicle (BEV)
6.4.1. Market estimates and forecast, 2015 – 2024

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