About Autonomous Car Technology
Autonomous car technology is used in autonomous cars which can help in revolutionizing the whole operation of the car providing extra safety and digitalization. There are ADAS, semi autonomous, and fully autonomous car technology that is being tested and used with advanced technology and features like self-driving, intelligent speed adaptation, night vision system, forward collision warning, driver assistance, etc. Self-driving technology is one technology innovation that is in continuous research with the collaboration of state and local government interventions and spendings on the technology.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Autonomous Car Technology is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Autonomous Car Technology market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Volvo Cars (Geely) (Sweden), Daimler AG (Germany), Tesla, Inc. (United States), General Motors Company (United States), Volkswagen AG (Germany), Bayerische Motoren Werke AG (Germany), Ford Motor Company (United States), Fiat Chrysler Automobiles N.V. (United Kingdom), Hyundai Motor Group (South Korea), Toyota Motor Corporation (Japan), Groupe Renault (France), Mitsubishi Motors Corporation (Japan) and Deeproute.ai Ltd. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Autonomous Car Technology market by Type (ADAS, Semi-autonomous Car Technology and Fully-autonomous Car Technology), Application (Passenger Cars and Sports Cars) and Region.
On the basis of geography, the market of Autonomous Car Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Wireless Technology, the sub-segment i.e. Vehicle to Vehicle (V2V) will boost the Autonomous Car Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Adaptive Cruise Control (ACC) will boost the Autonomous Car Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sensor, the sub-segment i.e. Camera will boost the Autonomous Car Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration of Machine Learning and Artificial Intelligence in the Autonomous Car Technology
Market Growth Drivers:
Growing Digitalization and Automation in the Automotive industry and Demand for the Advanced Autonomous Technology for the Safety and Ease of Driving
Challenges:
Number of New Entrants in the Autonomous Car Technology Market with High Investment Cost
Restraints:
Risk of Data Privacy Associated with Autonomous Car Technology
Opportunities:
Introduction of 5G Network Technology in the Autonomous Car Technology and Growing Number of Technologically Advanced Autonomous Car Technology Projects Worldwide
Market Leaders and their expansionary development strategies
In January 2023, Volvo acquired Gensiact, a provider of autonomous driving hardware and software. While many automakers now see autonomous products as the future of the automotive industry, recent history has shown that autonomous driving can be a highly volatile market. A month ago, Ford was forced to sell out of the self-driving car company after struggling with profitability. Now, Volvo hopes to try its hand at acquiring self-driving software and hardware provider Zensact.
On 6th January 2020, DeepRoute, an international self-driving startup and CES 2020 Innovation Award Honoree, announced it will be debuting three innovative technologies at CES 2020 including a vehicle-grade computing platform solution, DeepRoute-Tite, High Dynamic Range camera and ADS Synchronization Controller. The company will be located at Booth no. 25647 at South Hall 2 LVCC throughout the show.
"Eleven states and the District of Columbia have passed legislation related to autonomous vehicles. Additionally, governors in Arizona and Massachusetts have issued executive orders. California, Florida, Michigan, and Nevada passed comprehensive regulations governing the testing of autonomous vehicles. Nevada, the first state to pass an autonomous vehicle law in 2011, allows autonomous vehicles to be tested in the state, but the vehicle must be registered, insured, and have a certificate of compliance issued by the state Department of Motor Vehicles."
Key Target Audience
Autonomous Car Technology Developers, Autonomous Car Technology Distributors and Suppliers, Autonomous Car Technology Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.