Autonomous Vehicles Market Global Market – Overview
An autonomous car or driverless car is a vehicle that uses various in-vehicle technologies and sensors, such as adaptive cruise control, active steering (steer by wire), anti-lock braking systems (brake by wire), GPS navigation technology, lasers, radar, and artificial intelligence (AI) to travel between destinations without a human operator. A vehicle can be stated as fully autonomous only if it is able to navigate without human interference to a pre-set destinations. AI technology is the backbone of self-driving car systems. Manufacturers interpret data from image recognition systems combined with machine learning and neural networks to build systems that can drive without human intervention. This data includes images from cameras on self-driving cars from which the neural network learns to identify as traffic lights, trees, curbs, pedestrians, street signs and other parts of any given driving environment.
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Autonomous vehicles face challenges including identification of objects such as trees, litter, animals as well as human beings, tunnels that interfere with Global Positioning Systems (GPS), lane changes due to construction on roads, and halt for emergency vehicles to pass. The system lacks in making instantaneous decisions on slowing down, accelerating, or deviating from the current path. This is an on-going challenge for developers since the scenario of autonomous cars deviating or stopping unreasonably has been observed when objects are detected near the roadways.
Key Players
Some of the key players in this Autonomous Vehicles Market market are: Google (U.S.), General Motors (U.S.), Volkswagen (Germany), BMW (Germany), Ford Motor Company (U.S.), Baidu (China), Toyota (Japan), Tesla (U.S.), Audi (Germany), Jaguar (U.K.) among others.
Autonomous Vehicles Market – Segmentation
- Segmentation by sensor: ultrasonic sensors, radar sensors, lidar sensors, image sensors, and others.
- Segmentation by hardware and software: cameras, communication and telematics, and GPS systems.
- Segmentation by type: semi-autonomous vehicles and fully-autonomous vehicles. Fully autonomous vehicles are further classified in user-operated fully-autonomous vehicles and driverless fully-autonomous vehicles.
- Segmentation by region: North America, Europe, Asia Pacific and rest of the world.
Autonomous Vehicles Market Global Market – Regional Analysis
The regional analysis of autonomous vehicles market is studied for North America, Europe, Asia Pacific and Rest of the World. Since a large number of autonomous vehicles market firms are based in North America, it is one of the leading player in autonomous vehicles market. Moreover, with higher adoption of self-driven vehicles, North America will dominate the autonomous vehicles market. Hence, the key players in the market are constantly innovating and investing in research and development activities in order to create cost-effective product portfolio.
With rapid advancements of Level 0 and Level 1 autonomous vehicles in countries like Germany and U.K.; the Europe region is expected to grow at highest CAGR due to their adoption in mobility services. However, fully autonomous vehicles are expected to dominate the market of Germany by 2027.
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Intended Audience
- Car Manufacturers
- Technology Providers
- Car Component Manufactures
- Sensor Manufactures
- Software Developers
- OEMs in automotive Industry
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