Global Autonomous Vehicle Market to 2028: Increasing Focus on Vehicle Platooning & Transition from Car ownership to Mobility-as-a-Service (MaaS)

DUBLIN, March 8, 2019 /PRNewswire/ -- The "Global Autonomous Vehicle Market: Focus on Level of Autonomy for Passenger Cars and Commercial Vehicles, Analysis and Forecast: (2018-2028)" report has been added to ResearchAndMarkets.com's offering.

The autonomous vehicle market is anticipated to grow at a CAGR of 20.78% during the forecast period 2018-2028.

The autonomous vehicle market is driven by several factors such as an increasing push from governments as well as consumers to ensure road safety and to develop connected and autonomous infrastructures, which boost the demand for a reliable transportation system. Additionally, increased government focus on streamlined traffic infrastructure boosts market growth.

Moreover, factors such as increasing focus on vehicle platooning, a transition from car ownership to mobility-as-a-service (MaaS), and revenue generation opportunity for different layers of the automotive ecosystem is anticipated to create numerous opportunities for the market growth. However, factors such as reliability issue with the autonomous vehicle, non-availability of required infrastructure, and undefined legal responsibilities in developing countries, and rise in cyber threat due to increasing data, hamper the market growth.

The level 1 segment dominated the global autonomous vehicle market, accounting for around 88.16% of the total market in 2017 and is anticipated to maintain its dominance throughout the forecast period. This is mainly due to the rise in demand for high-end passenger cars that include ADAS features such as adaptive cruise control, lane departure warning, drowsiness monitoring, among others, in North America and Europe. Numerous automotive OEMs are integrating their vehicles with level 1 features, owing to the growing vehicular safety concerns and rising government rules and regulations.

In terms of growth, the level 4 autonomous vehicle market is anticipated to be the potential segment, expected to register the highest CAGR of 97.37% from 2020 to 2028. This is mainly due to the increasing R&D investment by automotive OEMs and self-driving technology providers such as Audi, Toyota, General Motor, Uber, Waymo, and Zoox, among others in order to develop level 4 autonomous vehicles. These companies are testing their level 4 vehicles in the U.S., Germany, and China, among others. Additionally, factors such as supportive government policies regarding autonomous vehicles and increasing government investment to develop connected infrastructure for testing autonomous vehicles are expected to drive the market growth.

The passenger vehicle segment dominated the global autonomous vehicle market, accounting for around 97.28% of the total market in 2017 and is anticipated to maintain its dominance throughout the forecast period. This is mainly due to the increasing demand for ADAS features such as adaptive cruise control, lane departure warning, traffic jam assist, and drowsiness monitoring, among others, owing to the growing emphasis towards road safety. Additionally, numerous automotive OEMs are integrating their vehicle level 1 and level 2 features owing to growing vehicular safety concern and rise in government rules and regulations.

Moreover, in terms of growth, the passenger vehicle segment is anticipated to be the potential segment, expected to register the highest CAGR of 20.78% from 2018 to 2028. This is mainly due to the increasing investments by governments, automotive OEMs, and self-driving technology providers with an aim to develop advance autonomous vehicles. Companies such as Waymo, Uber, and Zoox are continuously testing their autonomous cars and robo-taxis.

Key Topics Covered:

1 Market Overview
1.1 Autonomous Vehicle
1.1.1 Overview
1.1.2 Level of Autonomy
1.2 Advance Driver Assistance System (ADAS)
1.2.1 Overview
1.2.2 ADAS Features
1.3 Regulatory Landscape
1.3.1 Current Laws and Regulatory Bodies Related to Autonomous Vehicles by Country
1.3.2 Current Laws and Regulatory Bodies Related to Testing or Experimentation of Autonomous Vehicles, by Country
1.3.3 Regulatory Agencies for Driverless Vehicle
1.4 Government Initiatives
1.5 Autonomous Vehicle: The Start-Up Story
1.5.1 Key Upcoming Start-Ups
1.6 Consortiums and Associations
1.7 Investment by Major OEMs and Tier 1 Component Providers

2 Market Dynamics
2.1 Drivers
2.1.1 Increasing Push from Government as Well as Consumers to Ensure Road Safety, Which Boost the Demand for Reliable Transportation System
2.1.2 Increasing Push from the Government to Develop Connected and Autonomous Infrastructure
2.1.3 Increased Government Focus on Streamlined Traffic Infrastructure
2.1.4 Impact of Market Drivers
2.2 Challenges
2.2.1 Safety and Reliability Issues with Autonomous Vehicles
2.2.2 Non-Availability of Required Infrastructure and Undefined Legal Responsibility and in Developing Countries
2.2.3 Rise in Cyber Threat due to Increase of Data
2.2.4 Impact of Market Challenges
2.3 Opportunities
2.3.1 Increasing Focus on Vehicle Platooning
2.3.2 Transition from Car ownership to Mobility-as-a-Service (MaaS)
2.3.3 Revenue Generation Opportunity for Different Layers of Automotive Ecosystem
2.3.4 Wide Ranging Opportunities for Luxury Cars (Level 1 and Level 2) in Emerging Economies

3 Competitive Insights
3.1 Introduction
3.1.1 Product Launches and Developments
3.1.2 Business Expansion
3.1.3 Partnerships/Collaborations/Joint Ventures
3.2 Automotive OEM Preparedness Index for Future of Autonomy
3.3 Value Chain Analysis
3.4 Patent Analysis
3.4.1 Introduction
3.4.2 Key Patent: ADAS and Autonomous Driving Component
3.4.3 Patent Landscape

4 Assumptions and Limitations
4.1 Assumptions and Limitations for Market Size Calculations

5 Global Autonomous Vehicle Market by Level of Autonomy
5.1 Level 1
5.2 Level 2
5.2.1 Traffic Jam Assist
5.2.2 Park Assist
5.3 Level 3
5.3.1 Highway Chauffeur
5.3.2 Traffic Jam Pilot
5.4 Level 4
5.4.1 Valet Parking/Parking Garage Pilot
5.4.2 Highway Pilot
5.5 Level 5

6 Global Autonomous Vehicle Market by Vehicle Type
6.1 Passenger Vehicle
6.2 Commercial Vehicles
6.2.2.1 Heavy Trucks
6.2.2.2 Heavy Buses
6.2.3 Autonomous Commercial Vehicles Market, Market by Region

7 Global Autonomous Vehicle Market by Region

8 Company Profiles

• AUDI AG
• BMW Group
• Daimler AG
• FCA Italy S.p.A.
• Ford Motor Company
• General Motors
• MAN SE
• Nissan Motor Co., Ltd
• Tesla, Inc.
• Toyota Motor Corporation
• Volkswagen AG
• Volvo Group
• Waymo LLC
• Zoox Inc.

For more information about this report visit https://www.researchandmarkets.com/research/x4npbt/global_autonomous?w=5

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