Global Autonomous/Driverless Car Market Forecasts to 2024: Semi-Autonomous Vehicles Dominating the Market - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 24, 2019--
The “Autonomous/Driverless Car Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The autonomous/driverless car market was valued at USD 5.68 billion in 2018 and is expected to project a CAGR of 31.5%, during the forecast period, 2019-2024.
Key Market Trends
Cyber Security & Safety Concerns are Hindering the Market Growth
Cyber security is going to be a key consideration for the developing autonomous vehicle technology, as it is not just concerned with the vehicles themselves, but is also related to the whole environment that will be developed to support such vehicles. A connected and automated vehicle system is a cyber-physical system, with components of both the physical and virtual worlds. The safety stakes are high, as these systems are hard to protect. There are also risks associated with the networks that connect vehicles. The network systems include the financial networks that process payments, roadside sensor networks, and the electricity infrastructure or traffic control features.
One of the major cyber security risks associated with autonomous vehicles is hacking.
Apart from cyber security issues, safety concerns pertaining to accidents have always been the prime concern for both the consumers and the international authorities, such as NHTSA. There has been two major accidents in early 2018, which increased the safety concerns regarding these vehicles:
Semi-Autonomous Vehicles Dominating the Market
Following the SAE (Society of Automotive Engineers) International automated driving standards, cars with level 1 to level 3 automation features have been considered under the market segment of semi-autonomous cars.
North America and Europe covered more than half of the global semi-autonomous cars market in 2018 and likely to continue to increase their market share, during the forecast period, owing to the increasing launch of semi-autonomous car models and increasing development towards vehicle semi-autonomous systems among players in the automotive industry.
Major players operating in the global autonomous/driverless cars 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 develop and mass produce self-driving electric cars in China. Volvo will offer its expertise in advanced technologies in the auto industry, whereas Baidu provides its autonomous driving platform, Apollo.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Technology Trends
4.3 Market Drivers
4.4 Market Restraints
4.5 Industry Attractiveness - Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Semi-autonomous Vehicles
5.1.2 Fully-autonomous Vehicles
5.2.1 North America
5.2.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers & Acquisitions
6.3 Company Profiles
6.3.1 Uber Technologies Inc.
6.3.2 Daimler AG
6.3.3 Google Inc.
6.3.4 Toyota Motor Corp.
6.3.5 Nissan Motor Co. Ltd.
6.3.6 Volvo Cars
6.3.7 General Motors Company
6.3.8 Volkswagen AG
6.3.9 Tesla Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/48cvtf
View source version on businesswire.com:https://www.businesswire.com/news/home/20190524005297/en/
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Related Topics:Automotive,Cars,Internet of Things and M2M
INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY AUTOMOTIVE OTHER AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/24/2019 12:37 PM/DISC: 05/24/2019 12:37 PM