Autonomous Cars Market Shares and Strategies of Key Players Forecast 2016-2024
Add your Naples Florida Press Release or Company Profile to NAPLESPLUS
Press Release Give your opinion about this listing via "Review" or suggest corrections/additions
Detailed Free Research Brochure PDF: Label
Autonomous cars/driverless cars, however, received a commercial boost from technology giant Google, Inc. when the company introduced a fleet of seven autonomous Toyota Prius hybrids in 2010. The company’s driverless car program has been termed as the turning point in the history of the autonomous/driverless cars market. The entry of a technology firm changed the competitive landscape of the market.
Global Autonomous Cars/Driverless Cars Market: Drivers and Restraints
The concept of autonomous cars/driverless cars has intrigued car enthusiasts and manufacturers alike as it nullifies human involvement in driving and navigation. An estimated 90% of road accidents across the world are caused due to human error. Hence, adoption of autonomous cars/driverless cars can significantly reduce the number of road accidents. Furthermore, autonomous cars will make it possible for visually impaired and senior citizens to commute safely. Driverless cars will also ensure better management of traffic flow and parking spots. All these factors are anticipated to support the growth of the global autonomous/driverless cars market.
However, certain restraining factors challenge the concept of driverless cars. For example, car enthusiasts might find it unappealing to give up driving their own vehicle. High cost of autonomous cars and reliance on GPS satellites for navigation are likely to hamper the growth of the market. Recent accidents associated with the testing of driverless cars have raised concerns about the safety of drivers.
Global Autonomous Cars/Driverless Cars Market: Region-wise Outlook
Geographically, the global autonomous cars/driverless cars market has been segmented into Europe, North America, Asia Pacific, and Rest of the World. The U.S. has been the leading the autonomous cars/driverless cars market in North America. Early adoption of the innovative technology and presence of key market players have boosted the growth of the market in the region. Government support in terms of amendments in traffic regulations and funding of research projects on autonomous/driverless cars is also expected to augment the market in the region. Major players in the automotive industry in Europe are working on novel technologies regarding the development of autonomous cars. Changes in traffic regulations by governments across countries such as Sweden, the Netherlands, and Germany are anticipated to support the market. Countries such as Japan, Singapore, and China are the key markets for driverless cars in Asia Pacific.
The global autonomous cars/driverless cars market is witnessing increased competition due to the entry of technology firms. While automotive companies such as Tesla Motors, The Volvo Group, and Nissan Motor Company are working on the development of driverless cars, technology firms such as Google, Inc. and Baidu, Inc. are also exploring the opportunities in the autonomous cars market. Google, Inc. has tested its autonomous cars across Texas, Washington D.C., California, and Arizona.
Tesla Motors has been among the pioneers in the development of autonomous cars. In 2015, the company launched its semi-autonomous cars Tesla Model X and Model S, and aims to introduce driverless cars by 2020. Several of these automobile manufacturers are collaborating with technology firms for the development of autonomous cars.
Browse Full Report@ Label
About Us:- Transparency Market Research is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Contact Us:- Transparency Market Research State Tower, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453
NOTE: If your business information is incorrect, or you want ownership of your page (free), please see How do I modify my NAPLESPLUS business listing or find out more about this business?