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The level 1 self-driving car market will witness 6% growth over the forecast timespan. The market growth is attributed to the increasing vehicle safety concerns and governmental regulations for vehicle safety across the globe. Furthermore, the integration of the advanced driving assistance and safety systems into passenger cars also supports the market.On the other hand, the level 2 self-driving car market is expected to grow at a CAGR of 45% during the projected period. The advancements in the automotive technology such as the integration of artificial intelligence, GPS, and advanced electronic sensors such as radar, LiDAR, and ultrasonic sensors promote the market growth.
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Internal Combustion Engine (ICE) cars hold a majority share in the self-driving cars market with a market share of over 95% in 2017. This growth is attributed to the high demand for ICE-based cars in emerging nations such as India and Brazil. However, the rising concerns toward environmental safety and the increasing number of government regulations to reduce carbon emissions have restricted the growth of the ICE cars market.
The Hybrid Electric Vehicle (HEV) market is estimated to grow at a CAGR of over 60% during the forecast timeline. The demand for the HEV cars is driven by the growing investments by automotive manufacturers in the development of the electronics vehicles across the globe. The supportive government initiatives such as subsidies and tax benefits to the electronic vehicle manufacturers also propel the self-driving car market.
Europe holds a major share in the self-driving car market with a share of over 40% in 2017. The market growth is attributed to the presence of large number of automakers. The auto manufacturers have invested significantly in the autonomous vehicle technology to accelerate the innovative processes in the self-driving vehicle landscape. The governments in the region are investing in improving the road & telecom infrastructure, enabling the self-driving vehicles to better interact with its surroundings. The Netherlands government has invested over 100 million to install new traffic lights across the nation to help self-driving cars better interact with its surroundings.
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The North American self-driving car market is expected to register a high growth rate with a CAGR of over 14% to 2024. The growth in the region can be attributed to the supportive government policies, which have allowed automakers and tech companies in the region to conduct testing of autonomous technologies on public roads and freeways.
The Asia Pacific region is also expected to witness a high growth rate with a CAGR of over 15% in the coming years. Governments of countries such as Japan and China have allowed the testing of autonomous vehicles on public roads. The government authorities are collaborating with automakers and universities to introduce self-driving cars on public roads.
The players in the self-driving car market are Waymo, Autoliv, BMW, Bosch, Continental, FCA, Ford, General Motors, Hyundai, Toyota, Uber, Volkswagen, Nvidia, Subaru, Tesla, Intel, Jaguar, Nissan, Honda, Daimler, Baidu, Aptiv, and Volvo.
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Table of Contents (ToC) of the report:
Self-driving Car Market - Charts & Figures
FIG 1 Global market, 2015 - 2024 (Units)
FIG 2 Components of self-driving vehicles ecosystem
FIG 3 Autonomous Cars ecosystem analysis
FIG 4 Market evolution analysis
FIG 5 Patent analysis
FIG 6 Growth potential analysis
FIG 7 Porter’s analysis
FIG 8 PESTEL analysis
FIG 9 SWOT Analysis, Aptiv PLC
FIG 10 SWOT Analysis, Autoliv Inc.
FIG 11 SWOT Analysis, Baidu Inc.
FIG 12 SWOT Analysis, BMW AG
FIG 13 SWOT Analysis, Bosch GMBH
FIG 14 SWOT Analysis, Continental AG
FIG 15 SWOT Analysis, Daimler AG
FIG 16 SWOT Analysis, Fait Chrysler Automobiles
FIG 17 SWOT Analysis, Ford Motor Company
FIG 18 SWOT Analysis, General Motors Company
FIG 19 SWOT Analysis, Honda Motor Company Ltd.
FIG 20 SWOT Analysis, Hyundai Motor company
FIG 21 SWOT Analysis, Intel Corporation
FIG 22 SWOT Analysis, Jaguar Land Rover Limited
FIG 23 SWOT Analysis, Nissan Motor Company Ltd.
FIG 24 SWOT Analysis, Nvidia Corporation
FIG 25 SWOT Analysis, Subaru of America, Inc.
FIG 26 SWOT Analysis, Tesla Inc.
FIG 27 SWOT Analysis, Toyota Motor Corporation
FIG 28 SWOT Analysis, Uber Technologies Inc.
FIG 29 SWOT Analysis, Volkwagon Group
FIG 30 SWOT Analysis, Volvo Car Corporation
FIG 31 SWOT Analysis, Waymo
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