Autonomous Vehicle Industry: Growth, Opportunities, Key Players & Forecast Outlook 2027
Market Synopsis
The elements responsible for the expansion of Autonomous Vehicle Industry 2020 are the government’s rules related to safety, increased demand for
developed driver assisted systems in vehicles increasing sales of vehicles, and
others. The vehicle manufacturers are innovating new technologies to evolve the
vehicle safety system and intelligent transport system. Owing to the increased
accidents across the globe, the demand has increased considerably. The crucial
factors which help in the expansion of the market are the increased number of
government mandates, at a global level, for developed driver-assistance systems
(ADAS) features and the including the basic safety systems like anti-lock
braking systems (ABS), and airbags. Moreover, the rise in the adoption of
advanced safety systems and driver assistance features like blind-spot
identification, and automatic emergency braking at cheaper costs are estimated
to propel the growth of the autonomous vehicle ECU market. To lessen the
accidents happening daily, the monitoring bodies of several regions like Europe
are making it a compulsion to install the advanced safety system and anti-lock
braking system in vehicles, which helps in the expansion of the market.
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The key factor which drives the market is the
increased number of accidents due to human carelessness. Therefore, the
automotive ecosystem is promoting the usage of the adoption of semi-autonomous
vehicles and will eventually shift towards autonomous automobiles vehicles
which are free of human errors. The increase in the sales of vehicles, across
the world will lead to a high demand for autonomous vehicle ECU in the market.
However, the concerns of cybersecurity issues such as cybersecurity risk and
legal obstructions in autonomous vehicles will hamper the expansion of the
market.
Global Autonomous Vehicle Market Segmentation
The global autonomous vehicle market can be
classified on the basis of application, vehicle type, and region.
On the basis of application, the global autonomous
vehicle market can be classified into a semi-autonomous vehicle and autonomous
vehicles.
On the basis of vehicle type, the global autonomous
vehicle market can be classified into the passenger car, light commercial
vehicle, and heavy commercial vehicle.
On the basis of region, the global autonomous vehicle
market can be classified into North America, Europe, Asia-Pacific and the Rest
of the World (Row).
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Autonomous Vehicle Market Regional Analysis
On the basis of region, the global autonomous
vehicle market can be segregated into North America, Asia-Pacific, Europe and
the Rest of the World (Row).
North America is estimated to lead the global
autonomous vehicle market during the review period. The rise in the sales of
automobiles in North America and issues concerning vehicle safety will drive
the market and acquire the highest market share during the review period. In
the forthcoming period, government regulations within the North American
nations are estimated to become more stringent with the rules.
The APAC region is estimated to be the
second-largest market during the review period due to an increase in the sales
of luxury vehicles, an increase in GDP and an increase in the purchasing power
of users. The region is a potent land and consists of several markets that are
already technologically developed such as India, China, and Japan. The
development of automotive technologies will lead to the expansion of the market
during the review period.
Global Autonomous Vehicle Market
Key Players
The prominent players in autonomous vehicle ECU
market are Hitachi, Ltd. (Japan), Continental AG (Germany), Intel Corporation
(U.S.), Renesas Electronics Corporation (Japan), Nvidia Corporation (U.S.), ZF
Friedrichshafen AG (Germany), Infineon Technologies AG (Germany), NXP
Semiconductors N.V. (Netherlands), Autoliv Inc. (Sweden) and Bosch (Germany)
are among others.
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