The latest report on Autonomous Vehicle Market by Infinium Global Research gives complete coverage of the Autonomous Vehicle Market by type (semi, fully-autonomous vehicles), sensor (ultrasonic, RADAR, Lidar, image sensor), level of autonomy (Level 1, Level 2, Level 3, Level 4, Level 5) in terms of key trends, market size, forecast and CAGR growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and applications trends in the regional markets of Autonomous Vehicle such as North America, Europe, Asia-Pacific and Latin America over the short run and long run. The global autonomous vehicle market is projected to grow at a CAGR of 34% over the forecast period of 2020-2026.
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In the past few decades, innovation within the automotive industry has created safer, cleaner, and more affordable vehicles. The automotive industry is presently searching for the technology innovation required to shift from today’s prototype autonomous vehicles to deployable safe, self-driving solutions. The industry now appears close to generous change, stimulated by autonomous vehicle technologies. Autonomous vehicle technology offers the possibility of significant benefits to social welfare such as saving lives, reducing crashes, congestion, fuel consumption, and pollution. It is also increasing mobility for the disabled as well as ultimately improving land use. The autonomous vehicle technology also offers the possibility of fundamentally changing transportation.
The Ongoing Evolution of Automotive Technology Aims to Bring Even Superior Protection Benefits and Automated Driving Systems
The ongoing evolution of automotive technology aims to bring even superior protection benefits and automated driving systems. The increasing need for road safety is the major driving factor for the autonomous vehicle market. Road safety is a major issue in a number of countries around the world. Advanced technologies are ready to ease the road hazard and these technologies include the overall automated vehicles (AV) as a part of an intelligent transportation system. They are a type of active safety system due to which in the early stage of automated vehicle execution, traffic composition will be mostly manually driven vehicles with several vehicles with automated driving functions and some AV. Growth in connected vehicle technology and dynamic mobile application is also driving the market growth.
Increased Technological Advancements by OEMs for the Development of Autonomous Vehicles are Anticipated to Provide Opportunities to the Market
A connected vehicle includes the different communication devices and technologies that enable in-car connectivity with other devices present in the vehicle and enable the connection of the vehicle to external devices, networks, applications, and services.
On the other side, cybersecurity and safety concerns related to autonomous vehicles is hampering the growth of the global autonomous vehicle market. Autonomous vehicles make use of sensors and complex algorithms to detect and respond to their surroundings. These systems can be hacked just through an internet connection. Hackers have been able to activate/disable vehicle brakes, steering wheels, and increase vehicle speed. Several autonomous vehicle pilot programs are currently underway in multiple countries and security issues related to hacking can be reduced. Moreover, increased technological advancements by OEMs for the development of autonomous vehicles are anticipated to provide opportunities to the market.
North America is Dominating the Global Autonomous Vehicle Market
Among the regions, North America is dominating the global autonomous vehicle market followed by Europe. The presence of original equipment manufacturers, advanced technology, in large numbers, and a strong customer base are the major factors responsible for the growth of the North American region. North America’s contributions to self-driving are fueled heavily by tech hubs on the west coast of the United States as an industry leader in the automated vehicle space. Furthermore, the European Union (EU) has recognized the benefits that autonomous vehicles can provide and is leading the way to ensure cooperation at a regional level among all stakeholders, creating an environment favorable to autonomous vehicle development.
Table of Content:
Chapter – 1 Preface
Chapter – 4 Autonomous Vehicle Market Macro Indicator Analysis
Chapter – 5 Global Autonomous Vehicle Market by Type
- Semi-autonomous Vehicles
- Fully-autonomous Vehicles
Chapter – 6 Global Autonomous Vehicle Market by Sensor
- Image Sensor
Chapter – 7 Global Autonomous Vehicle Market by Level of Autonomy
- Level 1
- Level 2
- Level 3
- Level 4
- Level 5
Chapter – 8 Global Autonomous Vehicle Market by Region 2020-2026
- North America
Chapter – 9 Company Profiles and Competitive Landscape
- Waymo LLC
- Uber Technologies Inc.
- Toyota Motor Corporation
- The Volvo Group
- Tesla Motors
- Nissan Motor Co. Ltd.
- General Motors Co
- Bayerische Motoren Werke AG
- Ford Motor Co
- Audi AG
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