Autonomous Vehicle Market By Component (Hardware, Software, Services), By Application (Self-Driving Car, Robo Taxi, Self-Driving Bus, Self-Driving Truck, Others) - Industry Size, Growth, Share And Forecast To 2026
Autonomous vehicles are the driverless vehicles that have the ability of sensing the surrounding circumstances and navigating without the aid of driver. Autonomous vehicle use various technologies to sense and detect the surrounding such as radar sensor, video cameras, LiDAR sensors and others. These advanced control systems interpret information through sensors to find the appropriate path thus the vehicle stays away from the obstacles. Global autonomous vehicle market is expected to grow at a CAGR of approximately XXX% during the forecast period (2019-2026). The major factors escalating the global autonomous vehicle market are increasing road accidents & concern over road safety, need of better traffic management in highly populated cities, reduced operating cost & environment friendly and offering of high fuel efficient.
The major factor fuelling the global autonomous vehicle market is the concern over road safety. As per International Organization for Road Accident Prevention, over 90% of the road accidents throughout the globe are caused primarily due to human errors. According to estimation by National Highway Traffic Safety Association, the use of driverless vehicles could save the life of more than 69 people every year in the US. Hence, the adoption of autonomous vehicle across the globe will lead to decreased number of accidents, thereby increasing the road safety. The market faces some of the challenges in the form of high maintenance and repairing costs and hacker threat. However, the market has various opportunities over the forecast period (2019-2026) such as business opportunities and growing electric vehicles production. Most of the companies such as Tesla etc. are implementing the concept of autonomous vehicle in electric vehicles. International Council on Clean Transport (ICCT) estimated the number of hybrid electric vehicles (HEV) in US in 2015, to be 15%. Also, the demand for HEV in US has increased by 36% in 2015 compared to 11% in 2014. In Europe, the total number of HEV vehicles is around 8% of the transport vehicles in 2015. Since 2015, one in every seven vehicle sold in EU is HEV. Department of Transport, UK is planning to invest $270million YoY till 2020, to have every vehicle in the country to be low emission vehicles by 2050. Scandinavian countries (Norway, Finland and Netherlands) have been traditional markets for HEV in EU. The total sales of HEV across such countries grew by 22% in 2015. Hence, rising electric vehicles production is giving an opportunity for the autonomous vehicle market.
Geographically, the autonomous vehicle market has been divided into North America, Europe, Asia Pacific and Rest of World (RoW). Europe is the dominating region in the autonomous vehicle market as there are favourable government regulations for the testing of driverless vehicle in countries such as Germany, Netherlands and Sweden. Other than this, the presence of major key players such as Audi AG, BMW, Autonomous Labs, AB Volvo and Daimler AG enables Europe to prove its dominancy. However, North America is expected to be the fastest growing region in the autonomous vehicle market as the government of the U.S. changed the automobile policy in 2016 for reducing the time-to-market. Also, there are many key players such as Google Inc., Cisco Systems, Inc. General Motors, Ford Motors, Tesla Motors, and others and their technological advancements in driverless vehicle justify the fastest growth rate of North America autonomous vehicle market over the forecast period (2019-2026).
The autonomous vehicle market report covers three major segments that are components, level of automation and application. Further, the components segment covers hardware, software and services. The level of automation includes various sub segments that are level 3, level 4 and others. Application segment is further segmented into self-driving car, robo taxi, self-driving bus, self-driving truck and others.
The major market players of the global autonomous vehicle market are: Volkswagen AG, Daimler AG, AB Volvo, Ford Motors, Tesla Inc. and Others. These companies using various strategies such as merger & acquisition, collaboration, partnership and product launch. Whereas, product & service launch is the key strategy adopted by the companies in the autonomous vehicle market. For instance, June, 2017 Volkswagen AG has stepped up into a partnership with Nvidia for expanding the use of artificial intelligence in autonomous vehicles and also in the other business areas. Through this move, both the companies would work on developing the machine learning and deep learning programs that would be used in the autonomous vehicle that creates new opportunities for the global autonomous vehicle market.
1. Preface
1.1. Report Scope and Description
1.1.1. Study Purpose
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global Autonomous Vehicles Market
2.1.1. Global Autonomous Vehicles Market, by Type, 2018 (US$ Mn)
2.1.2. Global Autonomous Vehicles Market, by Application, 2018 (US$ Mn)
2.1.3. Global Autonomous Vehicles Market, by Level of Automation, 2018 (US$ Mn)
2.1.4. Global Autonomous Vehicles Market, by Geography, 2018 (US$ Mn)
3. Market Dynamics
3.1. Introduction
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.1.1. Increase in Road Accidents and Concern Over Road Safety
3.2.1.2. Need of Better Traffic Management in Highly Populated Cities
3.2.1.3. Reduce Operating Cost & Environment Friendly
3.2.1.4. High Fuel Efficiency
3.2.2. Market Restraints
3.2.2.1. Stringent Government Regulations
3.2.2.2. System Malfunctioning
3.2.3. Market Opportunities
3.2.3.1. Increased Concerned for Connected Infrastructure
3.2.3.2. High Growth in Smart Cities
3.2.4. Market Challenges
3.2.4.1. High Maintenance and Repairing Costs
3.2.4.2. Hacker Threat
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market share of Key Players, 2018
3.5. Top five findings and strategic analysis
4. Global Autonomous Vehicles Market, by Component
4.1. Overview
4.1.1. Global Autonomous Vehicles Market Value Share, by Component, 2018 & 2026 (Value, %)
4.1.2. Global Autonomous Vehicles Market, by Component, 2019-2026 (US$ Mn)
4.2. Hardware
4.2.1. Global Autonomous Vehicles Market for Hardware, 2019-2026 (US$ Mn)
4.2.1.1. Lidar
4.2.1.2. Radar
4.2.1.3. Ultrasonic Sensors
4.2.1.4. Others
4.2.2. Global Autonomous Vehicles Market for Hardware, by Region 2019-2026 (US$ Mn)
4.3. Software
4.3.1. Global Autonomous Vehicles Market for Software, 2019-2026 (US$ Mn)
4.3.2. Global Autonomous Vehicles Market for Software, by Region 2019-2026 (US$ Mn)
4.4. Services
4.4.1. Global Autonomous Vehicles Market for Services, 2019-2026 (US$ Mn)
4.4.2. Global Autonomous Vehicles Market for Services, by Region 2019-2026 (US$ Mn)
5. Global Autonomous Vehicles Market, by Application
5.1. Overview
5.1.1. Global Autonomous Vehicles Market Value Share, by Application, 2018 & 2026 (Value, %)
5.1.2. Global Autonomous Vehicles Market, by Application, 2019-2026 (US$ Mn)
5.2. Self-driving car
5.2.1. Market Determinants (Drivers, Restraints, Challenges & Opportunity)
5.2.2. Global Autonomous Vehicles Market for Self-driving car, 2019-2026 (US$ Mn)
5.2.3. Global Autonomous Vehicles Market for Self-driving car, by Region 2019-2026 (US$ Mn)
5.3. Robo Taxi
5.3.1. Market Determinants (Drivers, Restraints, Challenges & Opportunity)
5.3.2. Global Autonomous Vehicles Market for Robo Taxi, 2019-2026 (US$ Mn)
5.3.3. Global Autonomous Vehicles Market for Robo Taxi, by Region 2019-2026 (US$ Mn)
5.4. Self-driving Bus
5.4.1. Market Determinants (Drivers, Restraints, Challenges & Opportunity)
5.4.2. Global Autonomous Vehicles Market for Self-driving Bus, 2019-2026 (US$ Mn)
5.4.3. Global Autonomous Vehicles Market for Self-driving Bus, by Region 2019-2026 (US$ Mn)
5.5. Self-driving Truck
5.5.1. Market Determinants (Drivers, Restraints, Challenges & Opportunity)
5.5.2. Global Autonomous Vehicles Market for Self-driving Truck 2019-2026 (US$ Mn)
5.5.3. Global Autonomous Vehicles Market for Self-driving Truck, by Region 2019-2026 (US$ Mn)
5.6. Others
5.6.1. Market Determinants (Drivers, Restraints, Challenges & Opportunity)
5.6.2. Global Autonomous Vehicles Market for Others, 2019-2026 (US$ Mn)
5.6.3. Global Autonomous Vehicles Market for Others, by Region 2019-2026 (US$ Mn)
6. Global Autonomous Vehicles Market, by Level of Automation
6.1. Overview
6.1.1. Global Autonomous Vehicles Market Value Share, by Level of Automation, 2018 & 2026 (Value, %)
6.1.2. Global Autonomous Vehicles Market, by Level of Automation, 2019-2026 (US$ Mn)
6.2. Level 3
6.2.1. Global Autonomous Vehicles Market for Level 3, 2019-2026 (US$ Mn)
6.2.2. Global Autonomous Vehicles Market for Level 3, by Region 2019-2026 (US$ Mn)
6.3. Level 4
6.3.1. Global Autonomous Vehicles Market for Level 4, 2019-2026 (US$ Mn)
6.3.2. Global Autonomous Vehicles Market for Level 4, by Region 2019-2026 (US$ Mn)
6.4. Others
6.4.1. Global Autonomous Vehicles Market for Others, 2019-2026 (US$ Mn)
Global Autonomous Vehicles Market for Others, by Region 2019-2026 (US$ Mn)
7. North America Autonomous Vehicles Market Analysis
7.1. Overview
7.1.1. North America Autonomous Vehicles Market, by Component, 2019-2026 (US$ Mn)
7.1.2. North America Autonomous Vehicles Market, by Application, 2019-2026 (US$ Mn)
7.1.3. North America Autonomous Vehicles Market, by Level of Automation, 2019-2026 (US$ Mn)
7.1.4. North America Autonomous Vehicles Market, by Country, 2019-2026 (US$ Mn)
7.1.4.1. United States
7.1.4.1.1. United States Autonomous Vehicles Market 2019 – 2026 (US$ Mn)
7.1.4.2. Canada
7.1.4.2.1. Canada Autonomous Vehicles Market 2019 – 2026 (US$ Mn)
8. Europe Autonomous Vehicles Market Analysis
8.1. Overview
8.1.1. Europe Autonomous Vehicles Market, by Component, 2019-2026 (US$ Mn)
8.1.2. Europe Autonomous Vehicles Market, by Application, 2019-2026 (US$ Mn)
8.1.3. Europe Autonomous Vehicles Market, by Level of Automation, 2019-2026 (US$ Mn)
8.1.4. Europe Autonomous Vehicles Market, by Country/Region, 2019-2026 (US$ Mn)
8.1.4.1. UK
8.1.4.1.1. UK Autonomous Vehicles Market 2019 – 2026 (US$ Mn)
8.1.4.2. Germany
8.1.4.2.1. Germany Autonomous Vehicles Market 2019 – 2026 (US$ Mn)
8.1.4.3. France
8.1.4.3.1. France Autonomous Vehicles Market 2019 – 2026 (US$ Mn)
8.1.4.4. Rest of Europe
8.1.4.4.1. Rest of Europe Autonomous Vehicles Market 2019 – 2026 (US$ Mn)
9. Asia Pacific Autonomous Vehicles Market Analysis
9.1. Overview
9.1.1. Asia Pacific Autonomous Vehicles Market, by Component, 2019-2026 (US$ Mn)
9.1.2. Asia Pacific Autonomous Vehicles Market, by Application, 2019-2026 (US$ Mn)
9.1.3. Asia Pacific Autonomous Vehicles Market, by Level of Automation, 2019-2026 (US$ Mn)
9.1.4. Asia Pacific Autonomous Vehicles Market, by Country/Region, 2019-2026 (US$ Mn)
9.1.4.1. China
9.1.4.1.1. China Autonomous Vehicles Market 2019 – 2026 (US$ Mn)
9.1.4.2. India
9.1.4.2.1. India Autonomous Vehicles Market 2019 – 2026 (US$ Mn)
9.1.4.3. Japan
9.1.4.3.1. Japan Autonomous Vehicles Market 2019 – 2026 (US$ Mn)
9.1.4.4. Rest of Asia Pacific
9.1.4.4.1. Rest of Asia Pacific Autonomous Vehicles Market 2019 – 2026 (US$ Mn)
10. Rest of the World Autonomous Vehicles Market Analysis
10.1. Overview
10.1.1. Rest of the World Autonomous Vehicles Market, by Component, 2019-2026 (US$ Mn)
10.1.2. Rest of the World Autonomous Vehicles Market, by Application, 2019-2026 (US$ Mn)
10.1.3. Rest of the World Autonomous Vehicles Market, by Level of Automation, 2019-2026 (US$ Mn)
10.1.4. Rest of the World Autonomous Vehicles Market, by Country/Region, 2019 – 2026 (US$ Mn)
10.1.4.1. Latin America
10.1.4.1.1. Latin America Autonomous Vehicles Market 2019 – 2026 (US$ Mn)
10.1.4.2. MENA
10.1.4.2.1. MENA Autonomous Vehicles Market 2019 – 2026 (US$ Mn)
11. Company Profiles
11.1. AB Volvo
11.1.1. Company Overview
11.1.2. Product Portfolio
11.1.3. Key Strategies
11.1.4. Key Conclusion
11.2. BMW
11.2.1. Company Overview
11.2.2. Product Portfolio
11.2.3. Key Strategies
11.2.4. Key Conclusion
11.3. Daimler AG
11.3.1. Company Overview
11.3.2. Product Portfolio
11.3.3. Key Strategies
11.3.4. Key Conclusion
11.4. Ford Motor Company
11.4.1. Company Overview
11.4.2. Product Portfolio
11.4.3. Key Strategies
11.4.4. Key Conclusion
11.5. General Motors Company
11.5.1. Company Overview
11.5.2. Product Portfolio
11.5.3. Key Strategies
11.5.4. Key Conclusion
11.6. Groupe PSA
11.6.1. Company Overview
11.6.2. Product Portfolio
11.6.3. Key Strategies
11.6.4. Key Conclusion
11.7. Mitsubishi Motors Corporation
11.7.1. Company Overview
11.7.2. Product Portfolio
11.7.3. Key Strategies
11.7.4. Key Conclusion
11.8. Nissan Motor Co., Ltd.
11.8.1. Company Overview
11.8.2. Product Portfolio
11.8.3. Key Strategies
11.8.4. Key Conclusion
11.9. Renault SA
11.9.1. Company Overview
11.9.2. Product Portfolio
11.9.3. Key Strategies
11.9.4. Key Conclusion
11.10. Tesla, Inc.
11.10.1. Company Overview
11.10.2. Product Portfolio
11.10.3. Key Strategies
11.10.4. Key Conclusion
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