Autonomous cars market is poised to grow at more than 14% CAGR through 2024. The surging acceptance for self-driving vehicles along with the demanding future of autonomous vehicles have been enforcing automakers to strongly focus on the enhancement of technology used in the vehicles. The constant involvement of tech giants in the betterment of technology is slated to boost the autonomous cars industry share over the years ahead.

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As of now, autonomous vehicles are already considered to be a vital part of the future automotive industry. In accordance, for achieving a competitive stance, companies have been undertaking numerous innovative initiatives to expand their portfolio in autonomous cars market.

On the other hand, technology companies are also looking forward to investing in the development of myriad autonomous vehicles. For instance, the autonomous vehicle tech division of Intel, Mobileye is planning to launch autonomous car service in Israel. By entering into the autonomous cars market, Intel is looking forward to targeting its rivals including Nvidia and AMD which have been providing services to prominent automakers since last few years.

Currently, most of the automakers have been enlisting the help of renowned IT companies to address the potential of upcoming variants of vehicles. Few days before, Volvo declared that it will use Nvidia’s technology platform for its next-generation vehicles and to monitor the vehicle’s environment. Nvidia’s newly developed software and hardware is touted to maintain the level 4 of autonomy in cars. Aided by intense research and development activities, automakers have been looking forward to introducing the cars equipped with the level 4 autonomy by the end of 2022 for commercial usage.

A technology company like Intel has been striving to educate engineers from IIT-Kharagpur and IIT Madras to improve research and development activities. The direct involvement of technology magnates toward improving the autonomy level of the vehicles is thus poised to fuel autonomous cars industry.

In China, Ford and Baidu have recently signed an agreement to build a testing platform for autonomous vehicles. In fact, they are planning to achieve the level 4 autonomy by running the autonomous vehicles within specific areas over the coming two years. Ford is also looking forward to collaborating with Mercedes-Bez to test cars in Beijing.

The dedication of automakers, technology giants, and regulators toward the deployment of self-driving vehicles is slated to propel autonomous cars market trends over the years ahead. Core companies have been continuously striving to achieve full autonomy for reducing the consequences of pedestrian accidents. Driven by the shifting focus of people toward the adoption of self-driving cars, the overall autonomous cars market will observe a deployment of more than 60 million units by the end of 2024.

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Partial Chapter of the Table of Content

Chapter 5.   Global Autonomous Cars Market, By Level of Autonomy

5.1. Key trends, by level of autonomy

5.2. Level-1

5.2.1. Market estimates and forecast, 2015 - 2024

5.2.2.  Level-1 cars market, by type, 2015 - 2024

5.3. Level-2

5.3.1. Market estimates and forecast, 2015 - 2024

5.3.2.  Level-2 cars market, by type, 2015 - 2024

5.4. Level-3

5.4.1. Market estimates and forecast, 2015 - 2024

5.4.2.  Level-3 cars market, by type, 2015 - 2024

5.5. Level-4

5.5.1. Market estimates and forecast, 2015 - 2024

5.5.2.  Level-4 cars market, by type, 2015 - 2024

Chapter 6.   Global Autonomous Cars Market, By Type

6.1. Key trends, by type

6.2. Internal combustion engine (ICE) vehicle

6.2.1. Market estimates and forecast, 2015 - 2024

6.3. Hybrid electric vehicle (HEV)

6.3.1. Market estimates and forecast, 2015 – 2024

6.4. Battary electric vehicle (BEV)

6.4.1. Market estimates and forecast, 2015 – 2024

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