Dublin, March 20, 2019 (GLOBE NEWSWIRE) -- The "Global Autonomous Vehicle Market: Focus on Level of Autonomy for Passenger Cars and Commercial Vehicles, Analysis and Forecast: (2018-2028)" report has been added to ResearchAndMarkets.com's offering.

The global automotive industry is undergoing transformations, with a shift in consumer behavior from conventional vehicles to autonomous vehicles as well as an increase in the implementation of stringent environmental regulations. The automotive industry currently experiences substantial investments in research and development. Unlike other industries, automotive research and development efforts are largely funded by the industry, rather than through public sources.

Automotive R&D spending is increasing rapidly to keep pace with the demands for more sophisticated and effective technologies such as autonomous vehicles, telematics, and intelligent transportation systems, owing to the need to prevent accidents and maintain proper public transportation. Improved fuel economy and reduced vehicular emission continue to drive automakers to bring improvements in vehicle powertrain, light weighting, aerodynamics, and other vehicle attributes. Consumer preferences, increasing congestion, and various mobility choices mean that vehicles have to incorporate a variety of creative technologies to attract buyers. As a consequence, both public sources and private companies are investing substantially in the automotive industry.

The autonomous vehicle market is driven by several factors such as an increasing push from governments as well as consumers to ensure road safety and to develop connected and autonomous infrastructures, which boost the demand for a reliable transportation system. Additionally, increased government focus on streamlined traffic infrastructure boosts market growth. Moreover, factors such as increasing focus on vehicle platooning, a transition from car ownership to mobility-as-a-service (MaaS), and revenue generation opportunity for different layers of the automotive ecosystem is anticipated to create numerous opportunities for the market growth. However, factors such as reliability issue with the autonomous vehicle, non-availability of required infrastructure, and undefined legal responsibilities in developing countries, and rise in cyber threat due to increasing data, hamper the market growth.

The level 1 segment dominated the global autonomous vehicle market, accounting for around 88.16% of the total market in 2017 and is anticipated to maintain its dominance throughout the forecast period. This is mainly due to the rise in demand for high-end passenger cars that include ADAS features such as adaptive cruise control, lane departure warning, drowsiness monitoring, among others, in North America and Europe. Numerous automotive OEMs are integrating their vehicles with level 1 features, owing to the growing vehicular safety concerns and rising government rules and regulations. In terms of growth, the level 4 autonomous vehicle market is anticipated to be the potential segment, expected to register the highest CAGR of 97.37% from 2020 to 2028.

This is mainly due to the increasing R&D investment by automotive OEMs and self-driving technology providers such as Audi, Toyota, General Motor, Uber, Waymo, and Zoox, among others in order to develop level 4 autonomous vehicles. These companies are testing their level 4 vehicles in the U.S., Germany, and China, among others. Additionally, factors such as supportive government policies regarding autonomous vehicles and increasing government investment to develop connected infrastructure for testing autonomous vehicles are expected to drive the market growth.

The passenger vehicle segment dominated the global autonomous vehicle market, accounting for around 97.28% of the total market in 2017 and is anticipated to maintain its dominance throughout the forecast period. This is mainly due to the increasing demand for ADAS features such as adaptive cruise control, lane departure warning, traffic jam assist, and drowsiness monitoring, among others, owing to the growing emphasis towards road safety. Additionally, numerous automotive OEMs are integrating their vehicle level 1 and level 2 features owing to growing vehicular safety concern and rise in government rules and regulations.

Moreover, in terms of growth, the passenger vehicle segment is anticipated to be the potential segment, expected to register the highest CAGR of 20.78% from 2018 to 2028. This is mainly due to the increasing investments by governments, automotive OEMs, and self-driving technology providers with an aim to develop advance autonomous vehicles. Companies such as Waymo, Uber, and Zoox are continuously testing their autonomous cars and robo-taxis.

North America dominated the global autonomous vehicle market and contributed 62.51% of the total market share in 2017 and is anticipated to uphold its dominance throughout the forecast period. The autonomous vehicle market in North America is majorly driven by factors such as growing demand for advanced safety features.

Additionally, increasing number of high-end passenger cars such as BMW, Audi, Mercedes-Benz, General Motors, Ford, Fiat, and Volvo among others, is expected to boost the market growth, as North America is home to numerous leading high-end passenger car manufacturers, which are equipped with level 1 and level 2 of autonomy.

Moreover, North America is home to leading self-driving technology providers such as Waymo, Uber, and Zoox, which provides immense opportunities to these technology providers to partner with leading enterprises such as Walmart for the development and implementation of the delivery of goods through autonomous vehicles. Asia-Pacific autonomous vehicle market is expected to grow at a faster pace as compared to North America and Europe, during the forecast period. This is mainly due to the increasing investment in R&D by automotive OEMs which are headquartered in China, Japan, and South Korea. Additionally, government support and better infrastructure for an autonomous vehicle is anticipated to boost the demand for an autonomous vehicle in APAC, during the forecast period.

The global autonomous vehicle market has witnessed several strategic and technological developments in the past few years, undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the initiatives taken by players in the component market include new product launches and developments, development of precise and secure systems, pricing strategies, acquisitions of small-scale start-ups and emerging players, and formation of partnerships among the major players of the automotive components industry.

Key Topics Covered:

1 Market Overview
1.1 Autonomous Vehicle
1.1.1 Overview
1.1.2 Level of Autonomy
1.2 Advance Driver Assistance System (ADAS)
1.2.1 Overview
1.2.2 ADAS Features
1.3 Regulatory Landscape
1.3.1 Current Laws and Regulatory Bodies Related to Autonomous Vehicles by Country
1.3.2 Current Laws and Regulatory Bodies Related to Testing or Experimentation of Autonomous Vehicles, by Country
1.3.3 Regulatory Agencies for Driverless Vehicle
1.4 Government Initiatives
1.5 Autonomous Vehicle: The Start-Up Story
1.5.1 Key Upcoming Start-Ups
1.6 Consortiums and Associations
1.7 Investment by Major OEMs and Tier 1 Component Providers

2 Market Dynamics
2.1 Drivers
2.1.1 Increasing Push from Government as Well as Consumers to Ensure Road Safety, Which Boost the Demand for Reliable Transportation System
2.1.2 Increasing Push from the Government to Develop Connected and Autonomous Infrastructure
2.1.3 Increased Government Focus on Streamlined Traffic Infrastructure
2.1.4 Impact of Market Drivers
2.2 Challenges
2.2.1 Safety and Reliability Issues with Autonomous Vehicles
2.2.2 Non-Availability of Required Infrastructure and Undefined Legal Responsibility and in Developing Countries
2.2.3 Rise in Cyber Threat due to Increase of Data
2.2.4 Impact of Market Challenges
2.3 Opportunities
2.3.1 Increasing Focus on Vehicle Platooning
2.3.2 Transition from Car ownership to Mobility-as-a-Service (MaaS)
2.3.3 Revenue Generation Opportunity for Different Layers of Automotive Ecosystem
2.3.4 Wide Ranging Opportunities for Luxury Cars (Level 1 and Level 2) in Emerging Economies

3 Competitive Insights
3.1 Introduction
3.1.1 Product Launches and Developments
3.1.2 Business Expansion
3.1.3 Partnerships/Collaborations/Joint Ventures
3.2 Automotive OEM Preparedness Index for Future of Autonomy
3.3 Value Chain Analysis
3.4 Patent Analysis
3.4.1 Introduction
3.4.2 Key Patent: ADAS and Autonomous Driving Component
3.4.3 Patent Landscape

4 Assumptions and Limitations
4.1 Assumptions and Limitations for Market Size Calculations

5 Global Autonomous Vehicle Market by Level of Autonomy
5.1 Level 1
5.2 Level 2
5.2.1 Traffic Jam Assist
5.2.2 Park Assist
5.3 Level 3
5.3.1 Highway Chauffeur
5.3.2 Traffic Jam Pilot
5.4 Level 4
5.4.1 Valet Parking/Parking Garage Pilot
5.4.2 Highway Pilot
5.5 Level 5

6 Global Autonomous Vehicle Market by Vehicle Type
6.1 Passenger Vehicle
6.2 Commercial Vehicles
6.2.2.1 Heavy Trucks
6.2.2.2 Heavy Buses

7 Global Autonomous Vehicle Market by Region
7.1 North America
7.2 Europe
7.3 Asia-Pacific (APAC)
7.4 Rest-of-the-World (RoW)

8 Company Profile
8.1 AUDI AG
8.2 BMW Group
8.3 Daimler AG
8.4 FCA Italy S.p.A.
8.5 Ford Motor Company
8.6 General Motors
8.7 MAN SE
8.8 Nissan Motor Co., Ltd
8.9 Tesla, Inc.
8.10 Toyota Motor Corporation
8.11 Volkswagen AG
8.12 Volvo Group
8.13 Waymo LLC
8.14 Zoox Inc.

For more information about this report visit https://www.researchandmarkets.com/research/94skdh/global_autonomous?w=12

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Related Topics: Commercial Vehicles