Autonomous Vehicles Market Segments and Key Trends 2016-2026

Autonomous
Vehicles Market
Share, Global Trends,
Analysis, Research, Report,
Opportunities,
Segmentation and Forecast,
2016– 2026
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Autonomous vehicles also known as “robot cars” are driverless vehicles, controlled by the
computer, which is yet to be commercialized in the market. Autonomous vehicles have sensors
installed in it, which detects the objects in its surroundings via radar, GPS, lasers and computer
vision and chooses the appropriate path and direction. With the increasing road accidents due
to human error while driving provides lucrative opportunities for autonomous vehicles over the
forecast period, as the autonomous vehicles are comparatively safe when compared with
manually controlled vehicles. The autonomous vehicles will also help in reducing the CO2
emissions to the environment. The commercialization of autonomous vehicles will also
contribute to the revenue growth of different industries such as, IT, technology and electronics.
The use of autonomous vehicles are not limited to passenger cars, it can be used in industrial
fleet, construction, public transportation and for agricultural applications. The merits of an
autonomous vehicle over manually operated vehicles are, increased fuel efficiency, safety and
low emissions among others. Considering the aforementioned factors, the global autonomous
vehicles market will project a healthy growth rate over the forecast period.
The global autonomous vehicles market is primarily driven by the numerous advantages of an
autonomous vehicle such as increased safety reduced driving stress, efficient parking reducing
the costs, fuel efficiency, reduced CO2 emissions to the environment and increasing geriatric
population will have a positive impact on the global autonomous vehicles market. Apart from
the aforementioned factors, the autonomous vehicles will have a positive impact on the
economy as a whole.
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However, the data security concerns might pose as a restrain to the global autonomous vehicles
market as the controlling software can be hacked by unauthorized parties, and input spurious
information to the system.
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The global autonomous market is segmented based on level of automation, application and
region. Based on automation level, the global autonomous vehicles market can be segmented
into Driver Assistance, Partial Automation, Conditional Automation, High Automation and Full
Automation. Based on applications, the global autonomous vehicles market can be segmented
into Passenger Cars, Public Transportation, Industrial fleet, Construction and Agricultural
applications
Based on the geographic regions, global autonomous vehicles market is segmented into seven
key market segments namely North America, Latin America, Western Europe, Eastern Europe,
Asia Pacific, Japan, and Middle East & Africa. Among the aforementioned regions, the Western
Europe market holds the largest share of global autonomous vehicles market, due to the higher
adoption of autonomous vehicles in the region. North American market for autonomous
vehicles is trailing behind the Western European market.
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Description
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Over the forecast period, China in the Asia-Pacific market will surpass the European as well as
American market for autonomous vehicles. The adoption of autonomous vehicle in the
developing economies such as Latin America and MEA will be low as compared to other region.
Overall, the global autonomous vehicle market will project a healthy CAGR over the forecasted
period considering its tremendous advantages over conventional vehicles and impact on
environment.
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Autonomous Vehicles Market: Key Players
Some of the key players identified in the global autonomous vehicles market are Google, BMW
AG, Mercedes-Benz, Tesla Motors, Audi AG among others.
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