Global Autonomous Cars Market, By Automation Level (Level 1, Level 2, Level 3, Level 4, Level 5), By Car Type (Hatchback, Sedan, SUV), By Powertrain (Electric, Hybrid, Internal Combustion, Fuel Cell) – Global Industry Insights, Trends and Forecast, 2017-2025

Created On: Aug-2018
Report ID: IR174
Format: PDF

Autonomous Cars Market is anticipated to grow at a higher growth rate during the forecast period, owing to increasing focus to reduced road accidents, coupled with rising consumer awareness regarding the benefits of autonomous cars.

Autonomous Cars Market: Market Dynamics

Rising road accidents due to human errors or traffic rules negligence, coupled with increasing impetus on the adoption of smart road infrastructures across developed economies are some of the key factors driving the market over the forecast period. According to the stats by International Organization for Road Accident Prevention, more than 90% of road accidents are caused by human negligence or errors, such as rash driving, drunken driving, etc. The adoption of autonomous cars will reduce these accidents and will favor the safety of passengers.

Rising traffic congestion problems in developing economies will also drive the market. According to Insights and Reports, the developing technologies for autonomous cars will help the users to save nearly 30 minutes of their time in traffic congestions, and this can be reduced by the use of autonomous cars, which will further act as a significant driving factor for the global market. Moreover, autonomous cars do not require door opening spaces, and can save up to nearly 15% of the parking spaces available. This will further help in decreasing the parking space problems, especially in congested areas. These factors associated with autonomous cars will provide some solid prospects for the growth of autonomous cars market.

The unavailability of smart infrastructure in the developing economies will act as a significant restraining factor to the growth of the market.

Autonomous Cars Market: By Automation Level

Based on the automation level, the global market has been segmented into level 1, level 2, level 4, and level 5. Currently, level 2 autonomous cars hold the major market share across the globe. The demand for these vehicles is increasing on account of increasing sales of vehicles with features such as advanced driver assistance systems (ADAS). The vehicles with ADAS will include automatic emergency braking systems, adaptive cruise control, and others. Consumers are majorly looking for vehicles with all these features to ensure their safety, which will drive their demand.

The level 3 autonomous cars segment will witness the major demand globally till the end of the projected period. Rapid production and use of advanced driving technologies for autonomous driving across developed economies will specifically boost the growth of level 3 autonomous cars market in the coming years. The smart road infrastructures required for level 3 vehicles is predicted to increase till the end of the forecast period, and this will boost the level 3 autonomous cars demand by the end of 2025.

Autonomous Cars Market: By Powertrain

Based on powertrain, the global autonomous market has been segmented into electric, hybrid, internal combustion, and fuel cell cars. In 2017, the internal fuel combustion autonomous cars market had the lion’s share. This is majorly attributed by the increasing sales of internal fuel combustion based partially and fully autonomous cars. According to OICA, the passenger car sales reached 71.0 million, in 2017.

The electric autonomous cars will grow at a highest growth till the end of 2025, owing to the rise in production and sales of electric vehicles. Key manufacturers across the globe are making plans to commercialize the electric autonomous vehicles in between 2030 – 2035.

Autonomous Cars Market: By Region

North America market is predicted to dominate the global market, in 2017, followed by the Asia Pacific and Europe. The North America regional market is majorly dominated by the U.S. region, as this region comprises some key manufacturers. Moreover, this region comprises several OEMs catering to both domestic and international product demand.

By 2025, the North America market will likely lead the global market in terms of volume and revenue, attributed by the presence of key technology innovators like Microsoft, Google, and Delphi, which are investing in the testing of this technology for commercialization.

Autonomous Cars Market: Competitive Landscape

Some of the key players in the global autonomous cars market include Daimler, Tesla, Porsche, BMW, Audi, Baic Motor, Saic Motor Corporation, BYD, and NIO among others. Several prime players in this market are significantly investing in the development of new and innovative solutions for the autonomous cars, which will significantly help them to capture a significant market share by the end of 2025.

Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
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