Understanding COVID-19’s Impact on Autonomous Vehicle Market 2020

Increased investment in development of autonomous vehicles, proliferation of advanced communication technologies, emergence of 5G technology, and stringent regulations regarding fuel emissions are the key attributes governing the growth of the global autonomous vehicle market. With rising awareness regarding the benefits offered by autonomous vehicles, the autonomous vehicle sale is anticipated to gain traction during the forecast period. Different levels of autonomy are being featured by vehicles to facilitate different control functions. The autonomy levels are broadly classified into five levels i.e. level 1 to level 5. Wherein level 1 indicates that the advanced driver assistance system (ADAS) of a vehicle would support the driver in either breaking or accelerating or steering control. Whereas, level 5 autonomy indicates complete control over driving operations without any interference from driver. Semi-autonomous vehicles, with autonomy in between level 1 and level 3, has witnessed prominent growth during past couple of years across the emerging countries owing to availability at affordable price points and increased disposable income.

Request PDF Sample: https://www.insightslice.com/request-sample/423

Autonomous vehicles offer multiple advantages over conventional vehicles such as supporting or monitoring the driver while driving and improved fuel efficiency, thus are gaining popularity globally. However, due to the existing COVID-19 pandemic, the manufacturing of automobiles has been disrupted. Additionally, changing consumer buying behavior due to uncertainties posed by COVID-19 is anticipated to impact the growth of market. The implementation of stringent regulations on vehicle emission control and environment protection are expected to expedite the growth of autonomous vehicles during the forecast period.

North America contributed a dominating share to the global autonomous vehicle market in 2019 owing to presence of leading automotive manufacturers and strong demand for semi-autonomous vehicles across the United States and Canada. Increased investment in electric and autonomous vehicle development is anticipated to contribute towards the growth of autonomous vehicle market during forecast period. Asia Pacific contributed a prominent share to the global market and is anticipated to be the fastest growing market during the forecast period owing to increasing investment in development of autonomous vehicles across leading countries.

The report titled “Autonomous Vehicle Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global autonomous vehicle market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.

Request For Discount: https://www.insightslice.com/request-discount/423

The global autonomous vehicle market is segmented on the basis of vehicle type, propulsion type, level of autonomy, and geography. Based on vehicle type, the global autonomous vehicle market is segmented into passenger vehicle and commercial vehicle. The commercial vehicle segment is further sub-segmented into light commercial vehicles and heavy commercial vehicles. Based on propulsion type, the global autonomous vehicle market is segmented into internal combustion engine (ICE) vehicles, battery electric vehicles (BEV), and hybrid vehicles. Based on level of autonomy, the global autonomous vehicle market is segmented into semi-autonomous vehicles and fully autonomous vehicles. Based on geography, the global autonomous vehicle market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on autonomous vehicle. Further, market share of prominent companies in the global autonomous vehicle market would also be estimated. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the autonomous vehicle companies.

The global autonomous vehicle market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the autonomous vehicle business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global autonomous vehicle market. For instance, in the financial year 2019, BMW AG invested US$ 6,666.86 million in research and development in the electrification of vehicles, development of autonomous driving, and digitalization.

Major players active in the global autonomous vehicle market include Audi AG, BMW AG, Daimler AG, Ford Motor Company, General Motors Company, Google LLC, Honda Motor Company, Ltd., Nissan Motor Corporation, Tesla, Inc., Toyota Motor Corporation, Uber Technologies, Inc., Volkswagen AG, and Volvo Car Corporation.