Press release
Autonomous Luxury Vehicle Market Forecast: Continental, Cisco, BMW Group, AUDI AG, DENSO, Bosch, Waymo, Panasonic Automotive, BAIC International, Valeo, Tesla, Delphi, NIO, Porsche, Mercedes-Benz USA, SAIC Motor, Changan Automobile, Visteon Corporation
Autonomous Luxury Vehicle Market
The global autonomous luxury vehicle market is expected to reach 27905.5 units by 2025, from 2477.60 units in 2017 growing at a CAGR of 35.34% during the forecast period of 2018 to 2025.
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Autonomous vehicle are also known as automatic or self-governing car. The car is able to drive itself with the help of sensors. It senses the environment and navigates without human input. Autonomous car consist of various technology including laser light, GPS, radar and other. Autonomous luxury vehicle increases safety, mobility and customer satisfaction. The key players operating in the global autonomous luxury vehicle market are –
· Tesla
· AUDI AG
· BMW AG
· NIO
· Porsche Inc
· Robert Bosch
· Mercedes-Benz
· Changan Automobile
· Saic Motor Corporation
· Baidu
· Baic Motor
· Waymo
· Panasonic
· Continental AG
· Denso Corporation
· Visteon Corporation
· Nippon Seiki Co.Ltd
The other players in the market are Pioneer Corporation, Denso, Delphi Automotive, Infineon Technologies, NXP Semiconductors, Valeo, Texas Instruments, ZF Friedrichshafen, Magna International, Cisco Systems, Harman, Garmin, Microvision, Inc., among other. The global autonomous luxury vehicle market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions and others to increase their footprints in this market. The report includes market shares of autonomous luxury vehicle market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
· In 2018, Tesla introduces Model 3 and model S vehicle which is equipped with autopilot version 8.1 and version 701 respectively and one camera.
· For instance, In 2016 The International Council on Clean Transportation (ICCT), stated that the Europe hybrid-electric vehicles market share grew by 1.8% of all new cars.
· In Spain, the hybrid car market share increased by 2.7% in 2016 from 1.8% in 2015.
According to statista, the automotive supplier’s industry is estimated to grow around USD 24.5 billion by 2050. According to an article published recently by trading economics, the sales of vehicles in China will rise by 9.6 % in the year 2018 and around 2.29 million units has been sold by the end of the May in 2018. This shows that the automotive sector is growing, which in turn is driving the demand of autonomous luxury vehicles.
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Segments:
By Component
· Biometric Sensors
· Camera Unit
· LiDAR Sensors
· Radar Sensors
· Ultrasonic Sensors
By Body Type
· Sedan
· Hatchback
· SUV
By Fuel Type
· Internal Combustion Engine (ICE)
· Battery Electric Vehicle (BEV)
· Fuel Cell Electric Vehicle (FCEV)
· Hybrid Vehicle
· Others
By Geography
· North America
o U.S.
o Canada
o Mexico
· Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Turkey
o Belgium
o Netherlands
o Switzerland
o Rest of Europe
· Asia-Pacific
o Japan
o China
o South Korea
o India
o Australia
o Singapore
o Thailand
o Malaysia
o Indonesia
o Philippines
o Rest of Asia Pacific
· South America
o Brazil
o Rest of South America
· Middle East & Africa
o South Africa
o Rest of MEA
Market Drivers:
· Growing connected vehicle technology and dynamic mobility application.
· Raising demand for need for safe, productive and efficient driving experience.
· High demand for luxury autonomous vehicles in the automotive industry.
Market Restraint:
· Non-availability of required infrastructure in developing countries.
· High cost of cyber security and safety concerns.
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