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Autonomous Vehicle Market Report, Analysis and Forecast (2018-2028)



The global automotive industry is undergoing a period of wide-ranging and transformative changes with a shift in the consumer behaviour as well as an increase in the implementation of stringent environmental regulations. Factors such as rising safety and security concerns, increasing demand for a reliable transportation system, and the advent of innovative trends, such as transition from car ownership to “Mobility as a Service” (MaaS), are expected to increase the demand for autonomous vehicles.

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This demand for autonomous vehicles is also anticipated to create significant challenges for automotive stakeholders and consumers in terms of cybersecurity risks, data theft, and involvement of unscrupulous agents within the automotive value chain. Moreover, the introduction and subsequent growth in sales of electric & hybrid vehicles, the development of advanced driver assistance systems & self-driving technologies, increasing demand of connected vehicles, and disruptive trends, such as ride-hailing, car sharing, and in-car payments are expected to change the way people use mobility services.

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The automotive industry currently experiences substantial investments in research & development. Unlike other industries, automotive research & development efforts are largely funded by the industry, rather than through public sources. Automotive R&D spending is increasing rapidly to keep pace with the demands for more sophisticated and effective technologies such as autonomous vehicles, telematics, and intelligent transportation systems; owing to the need to prevent accidents and maintain proper public transportation. Improved fuel economy and targeting re emission targets continue to drive automakers to bring improvements in vehicle powertrain, lightweighting, aerodynamics, and other vehicle attributes. Consumer preferences, increasing congestion, and more forms of mobility choices mean that vehicles have to incorporate a variety of creative technologies to attract buyers. As a consequence, both public sources and private companies are investing substantially for the automotive industry.

Related Reports:

 Global ADAS and Autonomous Driving Component Market - Analysis and Forecast, 2018-2028

 Global Automotive LiDAR Market Analysis and Forecast, 2018-2028

 Global Advanced Driver Assistance System (ADAS) Market- Forecast & Analysis, 2016 – 2022

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