Overview of the global level 3 autonomous vehicle market
The global level 3 autonomous vehicle market is anticipated to grow rapidly and post a CAGR of more than 23% in terms of shipment during the forecast period. The rising importance of road safety and greener modes of transportation will drive the growth prospects for the global level 3 autonomous vehicle market until the end of 2021. Factors such as speed, distracted driving, and drunken driving lead to road fatalities. One of the major factors that drive the necessity for automated vehicle technologies and negate the effects of driver distraction is the urgent need for curbing these road fatalities. Also, growing concerns about greenhouse gas emissions have encouraged governments across the globe to focus on alternative sources of fuel that drive the introduction of new technology in vehicles such as level 3 autonomous vehicles.
The increased focus of OEMs toward the development of autonomous vehicles will drive the growth prospects for the global level 3 autonomous vehicle market in the forthcoming years. Due to the rising demand for new car ownership models such as carpooling, cab services, and car rentals due to factors such as traffic congestions in urban cities, OEMs are increasingly focusing on technologies that focus on driverless and autonomous vehicle concept.
Competitive landscape and key vendors
The global level 3 autonomous vehicle market is highly diversified and competitive due to the presence of a large number of autonomous vehicle manufacturers across the globe. These vendors increasingly focus on improvising their product portfolio to expand geographic reach.
Key vendors in this market are -
- Bosch
- Continental
- Delphi
- Mobileye
- Velodyne
Other prominent vendors in the market include Apple, Baidu, Google, LeddarTech, Magna International, NVIDIA, Quanergy Systems, and Uber.
Segmentation by vehicle type and analysis of the level 3 autonomous vehicle market
The passenger vehicle (PV) segment accounts for the maximum market share in 2016 and will continue to dominate the market for the next few years. One of the major factors responsible for the market segment’s growth is the increasing adoption of auto electronics and advanced driver assistance systems (ADAS) in PVs.
Segmentation by geography and analysis of the level 3 autonomous vehicle market
In terms of geography, the Americas accounted for the maximum market share in 2016 and will continue to dominate the market in the coming years as well. One of the major factors responsible for the market’s growth in the region is the increased investments towards advanced technologies such as ADAS, electronic braking system, and traction control system.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global level 3 autonomous vehicle market?
- What are the key market trends impacting the growth of the global level 3 autonomous vehicle market?
- What are the challenges to market growth?
- Who are the key vendors in the global level 3 autonomous vehicle market?
- What are the market opportunities and threats faced by the vendors in the global level 3 autonomous vehicle market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global level 3 autonomous vehicle market?
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Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
- Market overview
- Report coverage
- Top-vendor offerings
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
- Key market highlights
- Timeline of autonomous vehicles
- Value chain analysis
- Product life cycle
- Regulatory framework
PART 05: Market landscape
- Market overview
- Market size and forecast
- Five forces analysis
PART 06: Market segmentation by vehicle type
- Global level 3 autonomous PV market
- Global level 3 autonomous LCV market
- Global level 3 autonomous HCV market
PART 07: Market segmentation by geography
- Level 3 autonomous vehicle market in EMEA
- Level 3 autonomous vehicle market in Americas
- Level 3 autonomous vehicle market in APAC
PART 08: Market drivers
- Increased demand for driver assistance system
- Availability of ITS corridors and smart road infrastructure
- Rising importance of road safety and greener modes of transportation
- Maturing autonomous vehicles concept
- Support from auto insurance sector
- Open platform for mapping: HD maps
PART 09: Market challenges
- Accidents due to undefined safety parameters
- System reliability and uncertainty in user acceptance
- Cybersecurity breach issues
PART 10: Market trends
- Over the air updates for automotive software
- Increased focus of OEMs toward development of autonomous vehicles
- Vehicle platooning to improve fuel efficiency and traffic congestion
- Driver state monitoring
PART 11: Vendor landscape
- Competitive benchmarking
- Other prominent vendors
PART 12: Key vendor analysis
PART 13: Appendix
PART 14: Explore Technavio