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Companies Contemplate Autonomous Future, Global Autonomous Vehicle Market To Surge

21 Mar 2017
Global Autonomous Vehicle Market

Autonomous vehicles technology is one the most thriving and influential technology in the present market scenario. The autonomous vehicles are bound to change the transportation industry as well as the way we live. Many companies are excitedly investing huge amounts into the research and development in this field. On March 3rd, 2017, Toyota unveiled its new autonomous vehicles platform. According to Electrek, “Toyota is using the platform to develop two suites of features, a driver assist suite and a level 4 and 5 autonomous system: 1)Chauffeur refers to the always deployed, fully autonomous system classified by SAE as unrestricted Level 5 autonomy and Level 4 restricted and geo-fenced operation; 2)Guardian is a high-level driver assist system, constantly monitoring the driving environment inside and outside the vehicle, ready to alert the driver of potential dangers and stepping in when needed to assist in crash avoidance.” Although Toyota did not give a tentative date of its launch, most companies in this sector are aiming for 2020-2021.

Another development was witnessed recently in San Ramon, California, where Bishop Ranch, EasyMile, GoMentum Station and the Contra Costa Transportation Authority (CCTA) announced the commencement of operations of two EZ10 Shared Autonomous Vehicles (SAV) at Bishop Ranch, northern California’s premier business park in San Ramon. East County Today reported that “This marks the beginning of the second phase of testing for a pilot demonstration project authorized as part of California Assembly Bill 1592, which enables testing of electric, low-speed, multi-passenger, autonomous vehicles that are not equipped with a steering wheel, brake pedal, accelerator or operator. This is the first such pilot program in California.”

The global autonomous vehicle market is gaining momentum rapidly and with the current pace in development, major players in the market are proposing to launch their autonomous in the coming years. Acknowledging a great potential in the autonomous vehicles market and the current trends, BIS Research has compiled a report titled ‘Global Autonomous Vehicle Market- Analysis and Forecast (2016-2025)’ which focuses on major levels of technology and different vehicle types in the market. According to the analysis autonomous systems for commercial vehicles are expected to grow at a higher CAGR in comparison to the passenger cars.

This report identifies the global autonomous vehicle market on the basis of vehicle type, technology and geography. There are different levels of automation in autonomous vehicles which include level 1 (Advanced Driver Assistance Systems), level 2 (partial automation), level 3 (conditional automation), level 4 (high automation) and level 5 (fully autonomous). The report puts special emphasis on the technology penetration in the market and the market value of level 1 automated systems (in both passenger cars and commercial vehicles) and volume of level 2 equipped vehicles (both passenger cars and commercial vehicles) for the forecast period.

According to the analyst at BIS Research, “The penetration rate of level 3, level 4 and level 5 technology in passenger cars is anticipated to be 0.016%, 0.002% and 0.002%, respectively in the year 2020. Furthermore, in order to achieve the goal of fully human-independent vehicles, the penetration rate of these higher level automation features is expected to increase exponentially in the period 2020-2025.” The analysis report has divided the major geographical regions as North America, Europe, Asia Pacific and the Rest of the World, with further subdivisions and analysed according to major countries. The key players are also covered in the report with bifurcating into OEMs and Tier 1 companies, including Audi AG, Volkswagen, General Motors, etc.

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