Autonomous Cars/Driverless Cars Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
The concept of autonomous cars/driverless cars is being enthusiastically explored only now. However, the development of this market took root in the late 1970s. The first version of an autonomous car was unveiled by S. Tsugawa and his team back in 1977. The car had two cameras that implemented analog computer technology for signal processing. However, Ernst Dickmanns, a German aerospace engineer, is widely recognized as the pioneer of the autonomous car due to his series of projects in the field in the 1980s. The Carnegie Mellon University introduced an autonomous car, NavLab 5, and drove it from Pittsburgh to Los Angeles in 1995.
Autonomous cars/driverless cars, however, received a commercial boost from technology giant Google, Inc. when the company introduced a fleet of seven autonomous Toyota Prius hybrids in 2010. The company’s driverless car program has been termed as the turning point in the history of the autonomous/driverless cars market. The entry of a technology firm changed the competitive landscape of the market.
Global Autonomous Cars/Driverless Cars Market: Drivers and Restraints
The concept of autonomous cars/driverless cars has intrigued car enthusiasts and manufacturers alike as it nullifies human involvement in driving and navigation. An estimated 90% of road accidents across the world are caused due to human error. Hence, adoption of autonomous cars/driverless cars can significantly reduce the number of road accidents. Furthermore, autonomous cars will make it possible for visually impaired and senior citizens to commute safely. Driverless cars will also ensure better management of traffic flow and parking spots. All these factors are anticipated to support the growth of the global autonomous/driverless cars market.
PDF Sample For Full Details with Technological breakthroughs is @ http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=12653
However, certain restraining factors challenge the concept of driverless cars. For example, car enthusiasts might find it unappealing to give up driving their own vehicle. High cost of autonomous cars and reliance on GPS satellites for navigation are likely to hamper the growth of the market. Recent accidents associated with the testing of driverless cars have raised concerns about the safety of drivers.
Global Autonomous Cars/Driverless Cars Market: Region-wise Outlook
Geographically, the global autonomous cars/driverless cars market has been segmented into Europe, North America, Asia Pacific, and Rest of the World. The U.S. has been the leading the autonomous cars/driverless cars market in North America. Early adoption of the innovative technology and presence of key market players have boosted the growth of the market in the region. Government support in terms of amendments in traffic regulations and funding of research projects on autonomous/driverless cars is also expected to augment the market in the region. Major players in the automotive industry in Europe are working on novel technologies regarding the development of autonomous cars. Changes in traffic regulations by governments across countries such as Sweden, the Netherlands, and Germany are anticipated to support the market. Countries such as Japan, Singapore, and China are the key markets for driverless cars in Asia Pacific.
The global autonomous cars/driverless cars market is witnessing increased competition due to the entry of technology firms. While automotive companies such as Tesla Motors, The Volvo Group, and Nissan Motor Company are working on the development of driverless cars, technology firms such as Google, Inc. and Baidu, Inc. are also exploring the opportunities in the autonomous cars market. Google, Inc. has tested its autonomous cars across Texas, Washington D.C., California, and Arizona.
Tesla Motors has been among the pioneers in the development of autonomous cars. In 2015, the company launched its semi-autonomous cars Tesla Model X and Model S, and aims to introduce driverless cars by 2020. Several of these automobile manufacturers are collaborating with technology firms for the development of autonomous cars.
Market Insight can be Viewed @ http://www.transparencymarketresearch.com/autonomous-cars-driverless-cars-market.html
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Transparency Market Research
90 Sate Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Autonomous Cars/Driverless Cars Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024 here
News-ID: 386672 • Views: 836
More Releases from TMR Research Reports
Three Phase Transformer Market - Powertronix Corporation,Mitsubishi Corporation …
Three phase transformer are widely used in power systems. They are more economical compared to single phase transformers. There is a growing demand of reliable technology allied to the power flow management within the power systems. They are of single unit which means all windings wound around the same core, immersed in one tank, or of three single phase units. These transformers have the windings connected in various ways like
Smart Irrigation Market - The Toro Company, Rachio Inc., Baseline Inc offering h …
Smart Irrigation Market: Overview The amount of agricultural output is expected to grow till 2030, says a report by the Food and Agriculture Organization. With a projected growth of 1.4% in the aggregate crop production worldwide, the demand for supplies and solutions from industries working in the periphery of the agricultural sector is expected to rise. However, this does not necessarily mean that land under cultivation will rise dramatically. If anything,
Switchgear Market - Market Players Eyeing to Penetrate into Emerging Nations wit …
Switchgears are the switching devices designed to protect, meter, regulate and control power generation, transmission and distribution equipment and electric motor control systems. Switchgears are located on both the low-voltage and high-voltage side of large power transformers in substations. Switchgear includes circuit breakers, fuses, and isolators. The overall market for the switchgear is segmented on the basis of the current rating, voltage, insulating medium, construction type, interrupting device, type of current,
Air Compressor Market - Savvy Companies Focus on Product Development to Enhance …
Global Air Compressor Market: Overview Rapid industrialization witnessed in developing nations is the chief driver of the global air compressor market. An air compressor is used to convert power from electrical motor into kinetic energy. This conversion is achieved by compressing the air present within, which is released on quick bursts. Some of the most commonly used method of air compression are negative displacement and positive displacement technologies. For