Autonomous Vehicles Market Size, Global Opportunities, Sales Revenue, Development Status, Future Prospects, Competitive Landscape, Company Profile and Trends by Forecast 2027

Market Research Future
Market Research Future published a research report on “Global Autonomous Vehicles Market Research Report- Global Forecast 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.

Autonomous Vehicles Market Global Market – Overview

An autonomous car or driverless car is a vehicle that uses various in-vehicle technologies and sensors, such as adaptive cruise control, active steering (steer by wire), anti-lock braking systems (brake by wire), GPS navigation technology, lasers, radar, and artificial intelligence (AI) to travel between destinations without a human operator. A vehicle can be stated as fully autonomous only if it is able to navigate without human interference to a pre-set destinations. AI technology is the backbone of self-driving car systems. Manufacturers interpret data from image recognition systems combined with machine learning and neural networks to build systems that can drive without human intervention. This data includes images from cameras on self-driving cars from which the neural network learns to identify as traffic lights, trees, curbs, pedestrians, street signs and other parts of any given driving environment.

Autonomous vehicles face challenges including identification of objects such as trees, litter, animals as well as human beings, tunnels that interfere with Global Positioning Systems (GPS), lane changes due to construction on roads, and halt for emergency vehicles to pass. The system lacks in making instantaneous decisions on slowing down, accelerating, or deviating from the current path. This is an on-going challenge for developers since the scenario of autonomous cars deviating or stopping unreasonably has been observed when objects are detected near the roadways. 

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Key Players

Some of the key players in this market are: Google (U.S.), General Motors (U.S.), Volkswagen (Germany), BMW (Germany), Ford Motor Company (U.S.), Baidu (China), Toyota (Japan), Tesla (U.S.), Audi (Germany), Jaguar (U.K.) among others.

Autonomous Vehicles Market Global Market – Segmentation

  • Segmentation by sensor: ultrasonic sensors, radar sensors, lidar sensors, image sensors, and others.
  • Segmentation by hardware and software: cameras, communication and telematics, and GPS systems.
  • Segmentation by type: semi-autonomous vehicles and fully-autonomous vehicles. Fully autonomous vehicles are further classified in user-operated fully-autonomous vehicles and driverless fully-autonomous vehicles.
  • Segmentation by region: North America, Europe, Asia Pacific and rest of the world.

Industry News

May 18, Drive.ai announces on-demand self-driving car service on public roads in Texas.

California-based Drive.ai has partnered with the Frisco Transportation Management Association (TMA) to carry out driverless vehicle trials in Texas City. The trials will take place within a geo-fenced area including retail, office and entertainment spaces, with fixed pickup and drop-off locations dotted throughout the area.

May 18, Buffalo Automation is working on autonomous tech for ships.

Buffalo Automation, a start-up with close ties to Buffalo University in New York, is developing autonomous boats and ships. The startup has equipped boats of varying sizes with lidar, heat-sensitive cameras, and GPS. The start-up proves that their boats could also use onboard GPS sensors and inertial measurement units to accurately position themselves in packs, forming instant floating bridges or platforms for pop-up food markets on the water.

May 18, Jaguar partnered with Waymo to develop the world’s first premium self-driving electric vehicle.

Jaguar Land Rover and Waymo (formerly Google self-driving car project) will work together to design and engineer self-driving Jaguar I-PACE vehicles. This long-term strategic collaboration will further share Waymo and Jaguar Land Rover’s goals: to make cars safer, free up people’s valuable time and improve mobility for everyone.

March 18, AutoNaut automated sea vehicle provides ocean monitoring.

AutoNaut is an autonomous boat that is propelled by the waves and carries ocean sensors powered by solar energy. The AutoNaut is powered by wave motion and solar-powered sensors and is designed to spend weeks on the water. The solar-powered sensors are responsible for monitoring marine wildlife and ocean conditions and getting to the destined location.

March 18, Autonomous Vehicles launches geo-tracking for click and collect: giving brands transparency into potential revenue gains and losses.

Autonomous Vehicles (an end-to-end commerce management platform) has launched its Geo-tracking for click and collect. The system will monitor all the products with their pricing and availability for click and collect selection. Autonomous Vehicles will help brands to identify shortfalls in availability and will correct availability issues that might have led brands to substantial loss of revenue.

Autonomous Vehicles Market Global Market – Regional Analysis

The regional analysis of autonomous vehicles market is studied for North America, Europe, Asia Pacific and Rest of the World. Since a large number of autonomous vehicles market firms are based in North America, it is one of the leading player in autonomous vehicles market. Moreover, with higher adoption of self-driven vehicles, North America will dominate the autonomous vehicles market. Hence, the key players in the market are constantly innovating and investing in research and development activities in order to create cost-effective product portfolio.

With rapid advancements of Level 0 and Level 1 autonomous vehicles in countries like Germany and U.K.; the Europe region is expected to grow at highest CAGR due to their adoption in mobility services. However, fully autonomous vehicles are expected to dominate the market of Germany by 2027.

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Intended Audience

  • Car Manufacturers
  • Technology Providers
  • Car Component Manufactures
  • Sensor Manufactures
  • Software Developers
  • OEMs in automotive Industry

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