Autonomous Vehicles Market Scope
Autonomous vehicle refers to a mode of transportation which automates and guide itself without human conduction. It is widely known as a driverless car, robot car, self-driving car or autonomous vehicle. These vehicles use Artificial Intelligence, light detection & ranging (LiDAR) and RADAR sensing technology capable of reading and sensing the environment operating their selves. Considering the growth in the vehicle to everything (V2X) technology and rising autonomous across industries, the autonomous vehicle market expected to gain traction during the forecasted period. Recently companies such as Toyota, Google and Tesla have taken steps to innovate through technology and find a solution to potential challenges in the market such as improper infrastructure, especially in low and middle-income economies.
According to AMA, the Global Autonomous Vehicles market is expected to see growth rate of 28.0% Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Autonomous Vehicles market throughout the predicted period.
Google (United States), General Motors (United States), Ford Motor Company (United States), Tesla (United States), Intel (United States), Daimler AG (Mercedes Benz), Volkswagen (Germany), BMW (Germany), Baidu (China), Toyota (Japan), Audi (Germany) and Jaguar (U.K.) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Infineon Technologies (Germany), Honda Motor Corporation (Japan), Uber Technologies, Inc. (United States), Volvo Car Corporation (Sweden), Daimler (Germany) and Nissan Motor (Japan).
Segmentation Overview
The study have segmented the market of Global Autonomous Vehicles market , by Application (Transportation and Defense) and Region with country level break-up.
On the basis of geography, the market of Autonomous Vehicles 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).
Influencing Trend:
Growing Development and Introduction of HD Maps for Autonomous Vehicles and Growing Use of AI Advancement and Blockchain as Enforcement Technologies
Market Growth Drivers:
Availability of ITS Corridors and Smart Road Infrastructure, Integration of Technologies and Reduction of Manual Errors, Less Battery Capacity & Less Consumption of Gas Making It Cost-effective and Better Choice for Safe, Productive and Efficient Driving Option
Challenges:
System Reliability and Uncertainty in User Acceptance and Deployment of Efficient Crowd Navigation Technologies
Restraints:
Concern Related to Full-fledged Safety and Security and Unavailability of Required Infrastructure in Developing Countries
Opportunities:
Transformation in Autonomous Driving Ecosystem and Robotic Assistance, Supportive Regulatory Framework and Government Funding and Growing Demand for Electric and Hybrid Vehicles in Developing Countries
Market Leaders and their Expansionary Development Strategies
In May 2018, Jaguar partnered with Waymo to develop the world’s first premium self-driving electric vehicle. Jaguar Land Rover and Waymo will work together in order to design and engineer self-driving Jaguar I-PACE vehicles. This long-term strategic collaboration goal is to make cars safer, free up people’s valuable time and improve mobility for everyone.
December 2021 Intel California, with full support from Intel's Board of Directors, today announced plans to list Mobileye in the United States in mid-2022 with an initial public offering (IPO) of newly issued Mobileye shares. This move will create a separate, publicly traded company to realize Mobileye's value for Intel shareholders and serve an expanded market based on Mobileye's successful track record.
European and North American countries such as the US, Germany, UK, and Netherlands were pioneers of self-driving vehicle licensing, and have introduced regulations for self-driving cars on public roads and issued autonomous testing permits. Last year, 33 US states introduced legislation related to autonomous vehicles and The National Highway Traffic Safety Administration (NHTSA) published the "A Vision for Safety" document, which takes a nonregulatory approach toward promoting AV safety.
Key Target Audience
Car Manufacturers, Technology Providers, Car Component Manufactures, Sensor Manufactures, Software Developers and OEMs in automotive Industry
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.