Global Software Market for Autonomous Cars 2017-2021
About Software Market for Autonomous Cars
An autonomous car operates without human intervention or with very little human intervention. In this report, autonomous cars include only those cars with autonomous levels of 3 or above. The software for autonomous car is the software that makes the car autonomous.
Technavio’s analysts forecast the global software market for autonomous cars to grow at a CAGR of 76.10% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global software market for autonomous cars for 2017-2021. To calculate the market size, the report considers the new installations of software for newly manufactured autonomous vehicles.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Software Market for Autonomous Cars 2017-2021
Technavio recognizes the following companies as the key players in the global software market for autonomous cars: Alphabet, Delphi Automotive, Intel, NVIDIA, QNX Software Systems, and Tesla.
Other Prominent Vendors in the market are: Apple, Autotalks, Cisco, Cohda Wireless, Covisint, DeepMap, and Nauto.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing mergers and acquisitions. The global software market for autonomous cars is witnessing a trend of increasing mergers and acquisitions. Many small companies, especially startups, are focused on developing autonomous technology for vehicles. Big automotive companies are acquiring these companies to speed up their goal of reaching Level 4 and Level 5 autonomy”
According to the report, one of the major drivers for this market is High investment by companies in autonomous vehicles technology. One of the major drivers in the global software market for autonomous cars is the increase in the investment in the technology of autonomous cars. Since 2016, most of the investments have been made for a period of two or more years. These investments will drive the market in a positive direction during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is Huge price of autonomous cars. One of the major challenges faced by the global autonomous cars market is the high cost associated with these cars. The cost of Level 4 and Level 5 autonomous cars is estimated to be very high, which will not fit the budget of a middle-income family. Sensors, software, engineering, power and computing requirements, and R&D investments will increase the price of autonomous cars. The Tesla Model X equipped with a Level 2 autonomous system costs around $82,500 in the US. The price is expected to increase after Tesla releases Level 4 or Level 5 autonomous cars.
Alphabet, Delphi Automotive, Intel, NVIDIA, QNX Software Systems, Tesla, Apple, Autotalks, Cisco, Cohda Wireless, Covisint, DeepMap, and Nauto.
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