What's Driving the Autonomous Cars Market Growth? Top Players are Autoliv, BMW Group, Continental, Daimler AG, Ford Motor Company, Intel Corporation, NVIDIA, Toyota Motor Corporation

The level-1 based autonomous cars market is primarily driven by the rising road-safety concerns around the world as more and more vehicles are added to the roads each year. The increasing road-safety concerns have prompted governments across the world to introduce programs that mandate the incorporation of ADAS inside vehicles to ensure passenger safety. Programs such as the National Highway Traffic Safety Administration (NHTSA) in the U.S and the New Car Assessment Program (NCAP) in the European Union have impelled vehicle manufacturers to deploy vehicles that include a built-in level-1 semi-autonomous system. Amidst this scenario, it comes as no surprise that level-1 autonomous vehicles account for over 90% of the autonomous cars market share.

The level-4 autonomous vehicles - currently under the research phase - are expected to be commercially made available in the market by 2022. The rapidly increasing number of research & development efforts by industry leaders in the automated driving domain would be responsible for the growth of level-4 based autonomous cars market in the years to come. According to a 2018 report by Bloomberg, Waymo - an autonomous car initiative by Google's parent company - Alphabet Inc., is a leading contender that is much ahead of its nearest competitor in the race to deploy an autonomous level-4 vehicle to the market.

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The surging acceptance for self-driving vehicles along with the demanding future of self-driving 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 market share over the years ahead.

self-driving car is one of the transformative technological shifts that has been promoting a smarter, cleaner, and fast-moving mode of transport. Considering the benefits of self-driving car, several regulators have been implementing supportive policies to increase the deployment of self-driving vehicles that are ultimately becoming helpful to resolve the issues related to the traffic congestion, road fatalities, and pedestrian safety.

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 self-driving car market will observe a deployment of more than 60 million units by the end of 2024.

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