DUBLIN--(BUSINESS WIRE)--The "United States Autonomous Car Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The US autonomous car market is anticipated to register a CAGR of about 46.39% during the forecast period, 2019-2024
Autonomous cars use technologies, such as RADAR, LIDAR, GPS, and computer vision, to sense their environment. Advanced control systems that are integrated into the car can interpret the sensory inputs, to detect the signboards or to avoid the collision.
Although, Level 4 and Level 5 (as scaled by SAE) autonomous cars are unlikely to reach wide acceptance, by 2030, there would be rapid growth for Level 2 and Level 3 autonomous cars, which have advanced driver assistance systems, like collision detection, lane departure warning, and adaptive cruise control. Fully autonomous cars are not going to reach a wide customer base, unless, they are secure from cyber-attacks and have limited or no accidents. If such concerns are addressed the total number of autonomous car units is estimated to reach 20.8 million over the next decade.
Autonomous cars find application among the disabled, globally. According to the estimates by the American Community Survey (ACS) released in the report by disabilitycompendium.org in 2017, the overall rate of people with disabilities in the United States, in 2016, was 12.8%. The report also mentioned the percentage of people with disabilities rose, with the aging US population. These trends show a high possibility of market opportunities for the autonomous car manufacturers in the United States.
Scope of the Report
- An autonomous car market has been defined as the vehicle, which is capable of sensing its environment and moving with little or no human input.
- The US autonomous car market has been segmented by level of autonomation.
Key Market Trends
People are showing Willingness for Buying Safer and Efficient Vehicles
According to NHTSA (National Highway Traffic Safety Administration), about 94% of the accidents occurring on the US roadways can be attributed to human errors like drunken driving, speeding, and others. These can be mitigated with an autonomous car, in which, the functionality could follow the speed regulations stated in particular areas.
Autonomous vehicles can predict the impact between vehicles and decide a proper course of action to avoid a similar fate, to provide safer traveling on roads and fewer fatalities. This is achieved through numerous driver assistance technologies, such as lane keeping assistance, parking assistance, and adaptive cruise control systems that have been or are being incorporated in autonomous cars.
Autonomous vehicles have experienced a major growth at the global level, from 2014 onward, as the global market is focused more on the fleet owners rather than individual owners. Navya, a global leader in the autonomous vehicles industry, produced a fleet of 45 vehicles for public transport service that are deployed across North America and Europe.
The Demand for Conditional Automation is Growing Rapidly Across the County
The United States autonomous car market, by the level of automation, is dominated by conditional automation (Level 3). In Level 3 automation, the autonomous vehicle driving system performs all the dynamic driving tasks, expecting the human driver to respond appropriately to the request to intervene. The dynamic driving task includes steering, braking, accelerating, and monitoring the vehicle, along with responding to events happening on the road.
Audi is the first company to come up with a Level 3 autonomous car by launching the Audi A8 in the market.
However, there are few limitations of Level 3 autonomous cars such as constant awareness needed from the drivers' part, makes Level 3 automation less dependable. Consequently, several automotive manufacturers are pushing directly for level 4 autonomous cars, which do not require any inputs from humans.
Cameras, RADAR, and navigation are some of the systems deployed in conditional automated cars.
The US autonomous car market is consolidated and is majorly dominated by few players such as Apple, Waymo, Tesla, Ford, Honda, BMW, Nissan, Intel, and Uber. The autonomous cars are in the testing phase and are expected to be available for commercial use in the next couple of years. The vehicle manufacturers are investing heavily in autonomous/driverless car technology and making partnerships to offer the customers the best autonomous vehicle technology. For instance,
- Daimler Trucks is planning to invest a total of more than EUR 2.5 billion in R&D in 2018-2019, to focus on-going trends of the automotive industry, such as e-mobility, connectivity, and automated commercial vehicle technology.
- Toyota intends to extend partnerships with other major automotive companies to develop autonomous vehicles.
- For instance, the company is partnering with NVIDIA Corporation to develop automated driving technologies using Artificial Intelligence, aiming to develop automated driving systems using NVIDIA's graphics processing unit technology.
- Waymo LLC
- Tesla Inc.
- Ford Motor Company
- Honda Motor Company, Ltd.
- Bayerische Motoren Werke AG (BMW)
- Intel Corporation
- Uber Technologies Inc.
- Apple Inc.
For more information about this report visit https://www.researchandmarkets.com/r/jnd1v8