What is a self driving car and how does a driverless car work? A self-driving car also referred to as an autonomous vehicle, robotic car, robo-car, or driverless car, is any vehicle that is able to drive with little or no human input. For an autonomous vehicle to work it must have the ability to sense it’s environment using various systems in conjunction with each other. Radar sensors are needed to monitor the position of other vehicles and objects nearby. Self-driving cars have video cameras that read road signs, detect traffic lights and look out for pedestrians and other obstacles nearby. Autonomous vehicles also utilize LiDAR sensors to detect and identify the edge of the road and lane markings by bouncing light off the car’s surroundings. There are also ultrasonic sensors in the wheels to detect the position of other vehicles when parking. However, the most important technology in a self-driving car is the central computer that analyzes and works in conjunction with the sensors to steer, accelerate and brake.
The global autonomous vehicle market forecast is promising. The market is concentrated with the global self driving car market share currently occupied by several key players. Technavio’s self driving car industry analysis identifies the development of intelligent transportation system (ITS) corridors and smart road infrastructure are the primary factors leading to surging autonomous vehicle growth projections. In a market that demands innovation and the acceleration of production to meet demand, Technavio predicts that the global self driving car market will post a compound annual growth rate (CAGR) of 42% between 2018 to 2022. The year-over-year growth rate of the global self driving car market is 69.42%. According to Technavio the production of self driving car will increase by over 5.68 million units during the forecast period.
The growing development and introduction of HD maps for autonomous vehicles is an emerging trend in the autonomous vehicles space. A universal or harmonized mapping platform is a key requirement for autonomous vehicles. Few industry players have formed a partnership that entails the usage of Mobileye’s optical sensors. These sensors enable real-time imaging and navigation mapping. Certain countries in Europe are testing HD map-enabled driving on their freeways, and they are also made accurately available for other vehicles and drivers in the region.
Some of the self driving car industry’s key players are directly behind the introduction of HD maps, such as BMW, Audi, and Daimler Group which has introduced HD maps that were developed using data from LiDAR sensors and advanced algorithms that enable level 3 economy as a practical use case.
Technavio’s report does a deep dive analysis of the various factors affecting the global self driving car market size and growth. What companies are developing self driving cars? According to Technavio, the largest self driving car companies in the world are Tesla, Alphabet, Delphi, Intel, Ford Motor, BMW, Audi and Daimler Group. From a geographical market segment standpoint, the APAC region continues to lead the way for the global self driving car market making up 40% of the market share, followed by the Americas and EMEA regions.
Technavio's report goes into detail about the main segmentations in the market, with the passenger vehicles segment accounting for the largest share of the global self driving car market size, followed by the commercial vehicles segment.
Other segments discussed in the self driving market are ultrasonic sensors, radar sensors, LiDAR sensors – including lasers, scanners and optics, photo detector and receivers, and navigation and positioning systems — image sensors. camera modules, GPS receivers, inertial measurement units, wheel encoders, digitally controlled brakes, throttles, and steering systems.
Self-driving car autonomies also covered by Technavio include:
• Level 0 autonomous cars: All major systems are controlled by humans
• Level 1 autonomous cars: Certain systems, such as cruise control or automatic braking, can be automated, one at a time
• Level 2 autonomous cars: The car offers at least two simultaneous automated functions, like acceleration and steering, but requires human intervention for safety
• Level 3 autonomous cars: The car can manage all safety-critical functions under certain conditions.
• Level 4 autonomous cars: The car is fully-autonomous in some driving scenarios
• Level 5: The car is completely automated
According to Technavio, in level 3, the sensors mentioned become extremely important as it’s the level where a vehicle can take full control and operate a vehicle at certain parts of the driving experience.
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40% of the market share in the global self driving car market will be coming from the APAC region. Other key regions expected to see major growth are the Americas and EMEA regions. According to the report, the market has been segmented into regions that are growing faster than the overall market. These regions have been pitted against regions that have a slower growth rate than the global market. APAC and the Americas will grow faster than the overall market. EMEA’s growth will be slower than the global market.
Globally, the self driving car industry’s overall economic impact continues to rise — growing at a CAGR of 42%by 2022. Technavio finds that much of this growth has been driven by increased development of the market meeting consumer demand.
What companies are developing self driving cars? According to Technavio the follow companies continue to lead the global self driving car market.
Tesla was founded in 2003 by a group of engineers who wanted to prove that people didn’t need to compromise to drive electric – that electric vehicles can be better, quicker and more fun to drive than gasoline cars. All Tesla vehicles are produced at its factory in Fremont, California, where the vast majority of the vehicle’s components are also made.
Waymo is a self-driving technology development company that is a subsidiary of Alphabet Inc.
The Daimler AG and BMW Group are launching their cooperation on automated driving.
By 2021, Ford plans to have a fully automated autonomous vehicle in commercial operation.
In partnership with Volkswagen, Intel and it’s computer vision firm Mobileye plans to launch a commercial self-driving ride-hailing service in Israel.
To learn more about the companies dominating the market, view our report.
Technavio’s report is highlighted by an in-depth analysis and predictions on customer needs such as the demand for customized driving the immense growth of the global self driving market size. Technavio’s market research insights also cover the variety of factors accelerating growth in the self driving car industry. Comprehensive analysis of the global as well as regional markets of the autonomous vehicles market; including a detailed analysis of what is leading to growing demand from APAC, Americas, and EMEA regions.
Technavio is a global market research company specializing in niche and emerging technologies. The company has published over 15,000 reports on hundreds of industries and technologies, serving more than 1,000 organizations globally and over 100 Fortune 500 companies. Its offerings include syndicated research, subscription services, and custom research offerings to help businesses make fast, effective, well-founded decisions. Headquartered in London, UK and with offices across 7 countries, Technavio’s 500 in-house analysts and 16 years of experience allow the company to offer unmatched insights into countless markets. Discover what Technavio can do for you at https://www.technavio.com/.
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