The global autonomous/driverless market is expected to grow at a CAGR of 36.2% during the forecast period. Autonomous cars/driverless cars, as the name implies are the vehicles that have the transportation capabilities of a conventional car and can navigate by sensing the surrounding environment without human interference. Autonomous cars use the techniques such as RADAR, LIDAR, GPS and computer vision to sense their environment. Advanced Control Systems that are integrated into the car can interpret the sensory inputs to detect the signboards or to avoid the collision.
Asia-Pacific to dominate the market
Although Level 4 and Level 5 (as scaled by SAE) autonomous cars are unlikely to reach wide acceptance by 2025, there would be a rapid growth for Level 2 and Level 3 autonomous cars which have advanced driver assistance systems like collision detection, lane departure warning, and adaptive cruise control. Although the technology for manufacturing the autonomous cars is readily available, the concerns about liability and legislation are going to constrain the market. Countermeasures like built-in backup systems and the option to take over the car whenever the driver wishes are the things that need to be considered in order to capture the market. Also, fully autonomous cars are not going to reach wide customer base unless they are secure from cyber-attacks. If these concerns are addressed, the autonomous car market is estimated to reach USD 60 billion by 2030. Increased safety, lower insurance and fuel costs and the ability to multitask while traveling are going to boost the market. North America would lead the market at first, but Asia-Pacific, with the presence of fastest adopters like China and Japan, is estimated to control the dominant 35% share by 2025.
Apple is partnering with Hertz to test its in-house developed autonomous software in some of the company's rental cars. Waymo has developed Phoenix that lets people use its autonomous cars for their daily transportation needs. Microsoft has a number of partnerships with automotive manufacturers developing internet-connected and autonomous vehicles including Ford, BMW, Renault-Nissan, Toyota and Volvo. But its latest deal in this new market is with the Chinese company Baidu, to develop an open-source platform dubbed Apollo.
The study, besides estimating the autonomous cars market potential between 2018 and 2023, analyzes on who can be the market leaders and what partnerships would help them to capture the market share. The report gives an overview of the dynamics of the market, by discussing various aspects such as drivers, restraints, PorterÕs five forces, value-chain, customer acceptance and investment scenario.
The study in brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized. It approximates the time for innovation, in order for the industry to maintain a stable growth over a sustained period. The report also details the potential for various applications, discussing the recent product innovations and gives an overview on potential regional market shares.
Key Developments in the Market:
¥ January 2018: Waymo strikes deal to buy thousands of self-driving minivans from Fiat Chrysler.
¥ January 2018: GM started testing autonomous technology on Cadillac cars in Israel.
¥ December 2017: Ford patents autonomous police car to hand out tickets.
Major market players: MERCEDES-BENS, AUDI, WAYMO (GOOGLE), BMW amongst others
Reasons to Purchase this Report:
¥ The report analyses how the growth in connected vehicles technology will drive the global autonomous vehicle market.
¥ Analyzing various perspectives of the market with the help of PorterÕs five forces analysis.
¥ Study on the product type that is expected to dominate the market.
¥ Study on the regions that are expected to witness fastest growth during the forecast period.
¥ Identify the latest developments, market shares and strategies employed by the major market players.
¥ 3 months analyst support along with the Market Estimate sheet (in excel).
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1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Phases
2.4 Econometric Modelling
3. Executive Summary
4. Market Overview and Trends
4.2 Market Trends
4.3 PorterÃ•s Five Force Framework
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Competitive Rivalry within the Industry
5. Market Dynamics
5.1.1 Growth in Connected Vehicles Technology
5.1.2 Demand for Safe and Efficient Traveling Options
5.2.1 Cyber Security
5.2.2 Safety Concerns
5.2.3 Non-Availability of Supporting Infrastructure
5.3.1 Mobility Service
5.3.2 Synchronization with Lidar Technology
6. Autonomous Vehicle Market, Segmentation by Type
6.1 Semi-Autonomous Vehicles
6.2 Fully Autonomous Vehicles
7. Key Vendor Analysis (Overview, Products & Services, Strategies)
7.3 Google (Waymo)
7.7 General Motors
8. Future Outlook of the Market
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.