Autonomous Vehicle Market Description:
Autonomous vehicles otherwise called self-driving vehicles use artificial intelligence (AI) programming, light detection & ranging (LiDAR), and RADAR sensing innovation, which is additionally used to screen a 60-meter range around the vehicle and to shape a functioning 3D guide of the immediate environment. The vehicle is intended to travel between destinations without a human administrator. They consolidate sensors and software to control, explore, and drive the vehicle. Most self-driving frameworks make and maintain an internal map of their environment, based on a wide array of sensors, similar to radar.
Autonomous Vehicle Market Overview:
The global autonomous vehicle market was estimated at USD 5.68 billion in 2018 and is likely to extend at a stunning CAGR of 31.50% during the forecast period of 2021-2026.
The global automotive industry is experiencing a time of wide-ranging and transformative changes with the shift in customer behavior as well as expanding usage of stringent environmental guidelines. Factors like increasing safety and security concerns, growing demand for dependable transportation framework, and approach of progressive trends, such as the transition from car ownership to "Mobility as a Service" (MaaS), are relied upon to build the interest for autonomous vehicles. These vehicles are the key to changing urban transportation to the point of being indistinguishable in the next few years. There are both conventional OEMs and new vehicle engineers who are working in this biological system to improve and introduce completely-autonomous vehicles on the road. These vehicles will have propelled features from conventional cars that will enhance the driving experience for travelers.
Autonomous Vehicle Market Recent Developments:
A self-driving car service being tried by Waymo opened up to more individuals in the Phoenix, Arizona area in late 2018.
Waymo anticipated that organizations should be keen on utilizing the autonomous ride service to carry clients to and from shops.
Self-driving vehicle innovation is probably to be utilized in long-stretch trucking since distant parts of routes can be monotonous highway stretches with fewer factors to deal with than on local streets.
In late 2019 Hyundai became the newest car producer to convey autonomous rides in the US market.
Las Vegas: Not long from now, you could ride one, two or three wheels or maybe none at all. Some innovators played with long-established ideas like the bicycle or scooter by including artificial intelligence, electric power, and other technologies.
Adjustments of the bicycle, implanted with new tech for the associated generation, showed up at CES. French start-up Wello showed its open-sided, three-wheeled car-bike that depends on accelerating, electric force and solar panels on the roof, as of now being used by French postal services.
Forget driverless cars, SDE's innovative autonomous navigation system - Genesis – can transform any boat or ship into an unmanned vessel. From securing the coastline to clearing waste, the potential for this innovation is boundless.
Autonomous Vehicle Market Drivers and Restraints:
Through the Internet of Things, vehicle drivers improve their performance by accepting the ongoing input from rapid in-memory computing frameworks inbuilt in associated cars. These inbuilt computers offer highlights such as gathering, examining, and storing data which helps for making decisions. The wide selection of related cars is relied upon to create rewarding opportunities for autonomous and semi-autonomous vehicles.
The rapid development of economies guarantees vigorous improvement from transport infrastructure to the advancement of smart cities. Numerous countries, for example, Mexico, Canada, and the US are conveying digital foundation to encourage connectivity among vehicles and infrastructures to accumulate essential data, and thereby, decrease traffic congestion and increment road security. Ascend in the advancement of smart cities is likely to drive this market substantially.
Due to steady innovative advancements, the software in these vehicles needs to be often upgraded to keep them compatible with the outside environment. Likewise, the expense of all components and the sensor assembly in autonomous cars is more than rising vehicles. In addition, the proportion of premium buyers to that of economic purchasers is very less universally, as it is hard for ordinary people to manage the cost of high-end cars. Therefore, a high introductory price combined with maintenance cost hampers the reception of autonomous vehicles.
Autonomous Vehicle Market Segmentation:
By Level of Automation:
Features such as versatile cruise control or path keeping are a part of level 1 of automation. In level 2, the vehicle framework can control the braking, steering, or acceleration of the vehicle. These highlights can be applied together, and the coordination between at least two of these help technologies encourages a vehicle to be of Level 2 status.
In level 3, the vehicle framework is able to recognize the environment around utilizing sensors such as LiDARs and settle informed decisions such as surpassing a slower moving vehicle before it. The vehicle framework can oversee most parts of driving, including checking the environment. The system prompts the driver to mediate when it experiences a situation it can't navigate. In level 4, the vehicle can function without human interruption; however, just in specific conditions. There is an alternative to overriding the vehicle framework functions manually. In this level, the vehicles can work as driverless vehicles in any street conditions. These vehicles are being created to be utilized as Robo-taxis, such as Waymo, among others.
Vehicle sharing services such as a car or taxi sharing are foreseen to reach an ideal adoption rate, as individuals are relied upon to utilize these services more regularly because of affordability and comfort. This aspect is anticipated to increase the interest in autonomous vehicles during the projected time.
Some of the advantages of automation in this field include saving in the cost of work and decrease of carbon dioxide emission in the earth through advanced driving. These variables are relied upon to increase the interest in autonomous vehicles during the estimated period.
Marked Segmentation based on the region:
a. Middle East
Western Europe establishes the predominant portion of the global autonomous vehicles market, because of the high adoption rate of such vehicles in the locale. North America is the second leading market for autonomous vehicles, following Western Europe. North America and Europe secured the greater part of the global market in 2018 and prone to continue to expand their market share, during the predicted time, attributable to the expanding launch of semi-autonomous car models and developing improvement towards semi-autonomous vehicle systems among players in the automotive industry.
China, India, and Japan are the significant manufacturing nations of autonomous vehicles in the Asia Pacific, which is estimated to surpass Europe and North America regarding interest for autonomous vehicles. Reception of autonomous vehicles in the developing regions such as Latin America and the Middle East & Africa is evaluated to be lower than that in the different areas. However, the market for autonomous vehicles is overgrowing in developing nations.
Significant players operating in the global autonomous vehicles market include Uber Technologies Inc., Daimler AG, Google Inc., Toyota Motor Corp, Nissan Motor Co. Ltd, Volvo Cars, General Motors Company, Volkswagen AG, Tesla Inc., and BMW.
Volvo and Chinese internet service provider, Baidu, have joined hands to create and mass-produce self-driving electric cars in China. Volvo will offer its aptitude in advanced innovations in the auto industry, whereas Baidu gives its autonomous driving platform, Apollo.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Autonomous Vehicle Market, By Component
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Autonomous Vehicle Market, By Automation Level
6.2.1 Level 1
6.2.2 Level 2
6.2.3 Level 3
6.2.4 Level 4
6.2.5 Level 5
6.2.6 Market Size Estimations & Forecasts (2019-2024)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
6.3 Autonomous Vehicle Market, By Application
6.3.2 Robo Taxi
6.3.3 Ride Hail
6.3.5 Self-Driving Truck
6.3.6 Self-Driving Bus
6.3.7 Market Size Estimations & Forecasts (2019-2024)
6.3.8 Y-o-Y Growth Rate Analysis
6.3.9 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Component
7.2.3 By Automation Level
7.2.4 By Application
7.3.1 By Country
188.8.131.52 Rest of Europe
7.3.2 By Component
7.3.3 By Automation Level
7.3.4 By Application
7.4 Asia Pacific
7.4.1 By Country
184.108.40.206 South Korea
220.127.116.11 South East Asia
18.104.22.168 Australia & NZ
22.214.171.124 Rest of Asia-Pacific
7.4.2 By Component
7.4.3 By Automation Level
7.4.4 By Application
7.5 Latin America
7.5.1 By Country
126.96.36.199 Rest of Latin America
7.5.2 By Component
7.5.3 By Automation Level
7.5.4 By Application
7.6 Middle East and Africa
7.6.1 By Country
188.8.131.52 Middle East
7.6.2 By Component
7.6.3 By Automation Level
7.6.4 By Application
8. Key Player Analysis
8.1 BMW AG
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Diamler AG
8.3 Uber Technologies Inc.
8.4 Google Inc.
8.5 Toyota Motor Corp
8.6 Nissan Motor Co. Ltd
8.7 Volvo Cars
8.8 General Motors
8.9 Tesla Inc.
8.10 Volkswagen AG
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures