Autonomous driving is a technology which is integrated into cars to make the vehicle fully controlled and automated. Through this technology, the car is capable of guiding itself and reduces the need for human intervention. Vehicles equipped with this aforementioned autonomous technology is also referred to as self-driving cars or driverless vehicles.
As autonomous-vehicle (AV) technology progresses from needing driver assistance to having full autonomy, driverless cars are looking more likely to become a reality. With this comes significant benefits, including increased personal safety, time saving for drivers, mobility for nondrivers, decreased environmental harm, and reduced transportation costs. It will also lead to drastic shifts in value chains, profit pools, and needed capabilities (for example, software expertise or cybersecurity) that could introduce entirely new industries within automotive.
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While AV technology presents revolutionary change, its adoption will be evolutionary. We expect Level 4 autonomy—operating within virtual geographic boundaries—to be disruptive and available between 2020 and 2022, with full adoption coming later. Full autonomy with Level 5 technology—operating anytime, anywhere—is projected to arrive by 2030 at the earliest, with greater adoption by that time. These advances will change how people think about mobility in urban environments, with the greatest impact seen in car ownership and public transportation use.
Increase in the production of automobiles and need to integrate technologies in an automobile is rising, which helps driving the growth of the autonomous driving market. Nevertheless, emergence to adopt smart and connected devices within automotive is anticipated to provide healthy opportunities to the players operating in the autonomous driving market.
The global autonomous driving market is segmented on the basis of level of automation, component, and application. Based on level of automation, the autonomous driving market is segmented into level 1, level 2, level 3, level 4, and level 5. On the basis of component, the autonomous driving market is segmented into hardware and software. Further, the autonomous driving market is segmented on the basis of application into consumer, ride sharing, car sharing, and public transit.
The major companies profiled in the report are General Motors, Daimler AG, Ford Motor Company., Volkswagen Group, BMW AG, Renault-Nissan-Mitsubishi alliance, Volvo-Autoliv-Ericsson-Zenuity alliance, Groupe SA, AB Volvo, Toyota Motor Corporation, and Tesla.