Revolution in the automotive industry has led to driver less cars, which is a new concept of a car which has the ability to read and sense the environment and operate with any involvement of human input. It is also known as self-driven cars. Sensors, cameras, radars, laser light, GPS, computer vision and artificial intelligence are the features used in these autonomous cars. Companies have been working towards their development since the 1980's and have been successful in their venture. The United States has stated driver less cars as a much safer option than passenger cars.This growth is primarily driven by Reduction in the Chances of Accidents Occuring due to Manual Errors, Reduced Carbon dioxide Emission from Autonomous Vehicles and Less Battery and Fuel Consumption.
Globally, a noticeable market trend is evident Increase in the number of car accidents has led to the demand for autonomous cars in the market
. The Automobiles sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Google (United States), Tesla (United States), Ford Motors (United States), Waymo (United States), Volkswagen (Germany), BMW (India, Chennai), Renault SA (France), Audi (Germany), Hyundai (South Korea), Mercedes (Germany), Kia Motors (South Korea), Baidu Inc. (China), Samsung Electronics Inc. (South Korea) and Mobileye, Inc. (Israel) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In January 2018, Waymo, made a deal to buy thousands of self-driving minivans from Fiat Chrysler and GM and also started testing autonomous technology on Cadillac cars in Israel.
Government plans to maximize adoption of autonomous cars by 2021 and to make changes to the existing regulation to support autonomous cars implementation. North America is projected to witness significant growth owing to amendments in traffic regulations to implement autonomous cars on public roads. This regulation is slowly being adopted across the United States to make transportation autonomous. The National Highway Traffic Safety Association (NHTSA) in 2013 has permitted self-driving cars in various states of the United States like California, Michigan, Washington DC, Florida, Nevada. Similarly, the Department for Transport in U.K. has also commenced a jurisdiction for the same.
- Reduction in the Chances of Accidents Occuring due to Manual Errors
- Reduced Carbon dioxide Emission from Autonomous Vehicles
- Less Battery and Fuel Consumption
- Increase in the number of car accidents has led to the demand for autonomous cars in the market
- These type of cars will have more control over the gears and there is less possibility of accidents.
- Risk in Terms of Software Hacking
- High Cost in Comparison to Human Driven Cars
Presence of Large Pool of People With High Disposable Income and Growing Demand for Electronic and Autonomous Cars
Current Unclear Regulations which May Lead to Future Changes, Leading to Additional Expenses for Market Players
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Driver Less Cars Study Sheds Light on
The Driver Less Cars Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Driver Less Cars industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Driver Less Cars industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.