Autonomous Vehicles Market Key Developments, Company Overview, Competitive Landscape, Demand and Trends by Forecast to 2

Autonomous Vehicles Market Information, By Type (Semi-Autonomous Vehicles, Fully Autonomous Vehicles), By Sensors (Ultrasonic, Others) and By Region (North America, Europe, Asia Pacific, ) - Forecast till 2027


Introduction to Autonomous Vehicles

Autonomous vehicles are driverless vehicles that can operate itself and conduct required functions without the need for any human intervention, backed by the ability to sense the surrounding. Autonomous vehicles make use of a completely automated driving system, which helps the vehicle respond to any kind of external conditions that are usually not manageable by the human driver. A variety of six levels of automation are available in the autonomous vehicles market size. As the level increases, the degree of the car’s independence with regard to the operation control also rises.

Autonomous vehicles or self-driving cars have emerged as one of the prominent concept of car, which has the capability to read and sense the environment and requires absolutely no human input. At present, a number of renowned vendors are trying to develop semi-autonomous as well as fully autonomous vehicles to get ahead in the race to win over a bigger share in the autonomous vehicles market size. A variety of the prototypes are being analyzed in the research and development (RD) centers of several automobile companies as well as universities and are projected to be launched as soon as 2020. 

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Advantages of Autonomous Vehicles

Autonomous vehicles provide the user with a host of advantages, more than compared to human-driven vehicles. One such advantage of these kind of vehicles is that they offer elevated safety on road. A large number of deaths every year is caused by vehicle crashes. Automated vehicles can significantly bring down the number of casualties since the software is most likely to generate reduced errors compared to humans. A reduced number of accidents could also prevent traffic congestion, another potential advantage of using autonomous vehicles. Autonomous vehicles also prevent traffic congestion by removing any kind of human behavior that can lead to road blockages, especially stop-and-go traffic.

Another potential advantage of automated vehicles includes the convenient and comfortable driving experience for those that are not able to drive, owing to factors like disabilities as well as age. These people are able to use automated cars as these are far more convenient that the conventional types. An additional advantage of using an autonomous vehicle is the reduced driving fatigue and the option of sleeping during overnight journeys.

Top Growth Boosters in the Market

Emergence of smart cities coupled with the mounting demand for connected cars backed by the internet of things (IoT), the need to encounter the issue of traffic congestion, are among some of the top growth boosters in the market. Additionally, advancements in the automotive sector, rising demand for luxury cars, government regulations, and the rising threat from hackers within driving operation also benefit the autonomous vehicle market.

Latest Trends in the Autonomous Vehicles Market

Expansion of Lane Capacity

Autonomous vehicles have the capacity to work at top speeds, simultaneously reducing the space between the vehicles, which results in the expansion of the lane capacity. The lane capacity can also surge with the adoption of adaptive cruise control. The technology helps fix the vehicle’s speed mechanically, leading to a safe distance between the vehicles present on that road.

Real-Time Optimization of the Route

Autonomous vehicles sharing a stretch of the road have a connection with each other owing to Vehicle-to-Vehicle (V2V) as well as Vehicle-to-Infrastructure (V2I) mechanisms. These help driverless vehicles obtain real-time information regarding the condition of the roads, in addition to inducing exchange protection as well as mobility information with the infrastructure close by and accordingly redirect the routes. Moreover, with the use of V2V and V2I to detect all the optimal routes can help reduce the number of miles driven, and also save time as well as fuel consumption.

Less Energy Consumption

Autonomous vehicles are generally not susceptible to accidents and are much lighter compared to the traditional automobiles. Owing to the lightweight composites used to build the modern vehicle, along with the efficient manufacturing procedures, vehicles become lighter and the overall size still remains intact, all the while remaining impervious to accidents. Lightweight automobiles help lower down the fuel consumption, further benefited by these kinds of eco-friendly driving technologies as well as practices like deceleration, smooth acceleration and cruise control.

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