Global Level 3 Autonomous Vehicle Market 2017-2021
About Level 3 Autonomous Vehicles
An autonomous vehicle is a vehicle that is able to navigate and drive without any human intervention. This vehicle is equipped with an array of on-board sensors like LiDAR (light detection and ranging), radar, high resolution camera, sonars, laser scanners, and three dimensional (3D) cameras among others to gather and process information about its surroundings and navigate. The Society of Automotive Engineers (SAE) International has released a new standard J3016 for autonomous vehicles.
Technavio’s analysts forecast the global level 3 autonomous vehicle to grow at a CAGR of 23.08% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global level autonomous vehicle market for 2017-2021. To calculate the market size, the report considers a combination of top-down and bottom-up approaches.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Level 3 Autonomous Vehicle Market 2017-2021
Technavio recognizes the following companies as the key players in the global level 3 autonomous vehicle market: Bosch, Continental, Delphi, Mobileye, and Velodyne
Other Prominent Vendors in the market are: Apple, Baidu, Google, LeddarTech, Magna International, NVIDIA, Quanergy Systems, and Uber.
Commenting on the report, an analyst from Technavio’s team said: “In recent years, the number of electronic components in vehicles has increased exponentially. This is due to the growing number of installation of driver assistance and safety features in automobiles. With the advent of autonomous vehicles and connected car technology, the complexity has further increased in automobiles. Thus, electronics hardware and software are the most crucial parts of today's automobile.”
According to the report, the availability of truck-only lanes or highways in several developed areas of the globe (such as the US and Europe) are likely to offer a conducive environment for the development and deployment of semi-autonomous vehicles in the HCV segment. These factors are expected to positively impact the semi-autonomous vehicle market.
Further, the report states that the system reliability is being challenged by users, and this determines the acceptance level of users. Since the PVs market is likely to register a high number of first-time users of these autonomous technologies, customers have to be repeatedly assured on the reliability factors associated with such new technology-enabled systems and sub-systems.
Bosch, Continental, Delphi, Mobileye, Velodyne, Apple, Baidu, Google, LeddarTech, Magna International, NVIDIA, Quanergy Systems, Uber.