By 2020, it is expected that 10 million self-driving cars will be on the road while there will be more than 250 million smart cars—cars connected to high-tech networks—sharing the road with them. There are already self-driving features on several vehicles that are available today thanks to Tesla, Mercedes and BMW. The global autonomous car market is estimated to reach USD 60 billion by 2030.
It is expected that, by 2030, there will be some 20.8 million autonomous vehicles in operation in the U.S. As the technology for autonomous vehicles continues to develop, it may be necessary for state and municipal governments to address the potential impacts of these vehicles on the road (Source: Statista). The US has been actively introducing and updating its legislation on autonomous vehicles each year. In 2017, 33 states in the US have introduced legislation.
Autonomous cars can drive themselves without any human inputs. These cars use multiple in-vehicle technologies, sensors, and robotic devices to drive between predetermined destinations. These vehicles can provide a lot of data which is helpful for developing AI in the systems. Apart from keeping the passengers safe, the autonomous cars can save the passenger’s commuting time per year. To be precise, 250 million hours of commuting time per year. Though nations tend towards urbanisation, driverless cars could encourage some people to live even farther away from workplaces, or to take even more daily trips, because they can spend the time they save in commuting for entertaining themselves or some other purposes.
The US ranks first in crash deaths per 100,000 people and per 10,000 registered vehicles. In 2016, 20839 car crashes resulted in passenger fatalities. After Canada, US stands second in the percentage of deaths involving alcohol (at 31%). And the US is the third-lowest, after Austria and Belgium, in national front seat belt use (at 87%) among the 20 countries. Despite being a developed country, the fatality rate because of car crashes shows the future of autonomous cars being bright. As adopting autonomous cars can reduce accidents to a substantial percentage.
Autonomous cars find its application among the disabled globally. According to the report released by disabilitycompendium.org in 2017, The American Community Survey (ACS) estimates the overall rate of people with disabilities in the US population in 2016 was 12.8%. The report also mentioned the percentage of people with disabilities rose as US ages. These trends show that there is a high possibility that the US will emerge as a market opportunity for autonomous car manufacturers. According to the Society of Automotive Engineers, Insurance Information Institute estimated that it would take between 15 and 20 years until truly autonomous vehicles populate US roads.
- April 2017: Google’s self-driving car project Waymo has already logged the equivalent of 300 years of driving experience on city streets since 2009 and promises to free up our time, lower stress, make our roadways safer and improve transportation for us all.
- May 2016: Uber is testing out and investing USD 300 million to develop a fleet of self-driving vehicles further.
Reasons to Purchase this Report
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Detailed analysis on the product type that is expected to dominate the market
- Detailed analysis on the regions that are expected to witness fastest growth during the forecast period
- Identifying the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
This report can be customized to meet your requirements.
1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
3. Executive Summary
4. Market Overview and Technological Trends
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Porter's Five Forces Model
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of the Consumers
4.3.3 Threat of New Entrant
4.3.4 Threat of Substitutes
4.3.5 Competitive Rivalry
5. 5. Market Dynamics
5.1.1 Lower insurance and fuel costs
5.2.1 Increasing Safety Regulations
6. US Autonomous Car Market, Segmented By Level of Automation
6.1 Level 1
6.2 Level 2&3
7. US Autonomous Car Market, Segmented by ADAS features
7.1 Semi-Autonomous Vehicle Market
7.2 Adaptive Cruise Control (ACC)
7.3 Lane Assist (LA)
7.4 Intelligent Park Assist (APA)
7.5 Smart Park Assist (SPA)
7.6 Automatic Emergency Braking (AEB)
7.7 Blind Spot Detection (BSD)
7.8 Collision Warning System (CWS)
7.9 Cross Traffic Alert (CTA)
7.10 Traffic Jam Assist (TJA)
8. US Autonomous Car Market, Segmented By Components
8.1 Artificial Intelligence
8.5 Ultrasonic Sensor
9. US Autonomous Car Market, Segmented By Fuel Type
9.1.1 Conventional Vehicle
9.1.2 Hybrid Vehicle
9.1.3 Electric Vehicle
9.2.2 Hybrid Vehicle
10. Competitive Landscape
10.2 Market Share Analysis
11. Company Profiles
11.6 Volkswagen Group
11.8 Waymo (Google)
11.10 Renault- Nissan Alliance
11.11 General Motors
12. Future Outlook of the Market