Autonomous Vehicle Market to Hit $4.5B in 2017
June 16, 2017—A Report Buyer report indicates that the global autonomous vehicles market will reach $4.5 billion in 2017 primarily consisting of level 3 autonomy, with level 4 and level 5 occurring later.
This report presents the realistic outlook for autonomous vehicles and provides the expected timelines for the implementation of three different levels of technology over the forecast horizon.
It is widely expected that autonomous vehicles will transform both the automotive industry and consumer landscape, the report stated. Non-automotive OEMs are likely to become key players disrupting the traditional OEMs and competitive landscape. However, the real question is when and who will succeed in this long anticipated, and much hyped market space.
As the precursor to fully autonomous vehicles, advanced driver assistance systems, artificial intelligence, mapping technologies and sensors are all analysed in this report.
The autonomous vehicles market is expected to flourish in the next few years because of ADAS technologies becoming more widespread and becoming more widely accepted and expected by consumers and this is expected to feed through into the development of fully autonomous vehicles in the latter part of the decade driving growth.