Semi Autonomous Market for Passenger Car to reach $21.4 Billion by 2018 at a 9.52% CAGR - New Report by MarketsandMarkets
(PRWEB) August 16, 2013 -- The report “Semi Autonomous Market for Passenger Car By Type (Adaptive Cruise Control, Lane Keep Assist, Autonomous Park Assist & Adaptive Lights), By Technology, By Geography, & Autonomous Car (Qualitative Trends & Technologies) – Global Trends & Forecast To 2018”, defines and segments the global near-autonomous passenger car market with analyses and estimation of the volume and revenue.
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1.1 EUROPE – UNDISPUTED LEADER FOR SEMI AUTONOMOUS MARKET FOR PASSENGER CARS
Europe is always the first region where innovative and sophisticated technologies are popularized at a high rate, these technologies help in meeting the stringent safety and environmental regulations. With time, the regulations in European and American regions are expected to change and become more stringent. There is a possibility of implementation of some of the key near-autonomous features (such as ACC and LKA) in the near future, in these regions.
There are various European automakers such as Audi (Germany), BMW (Germany), Volkswagen (Germany), Mercedes-Benz (Germany), Volvo (Sweden), and others have launched their passenger cars equipped with near-autonomous features. Apart from the safety norms, other reasons such as personal safety concerns, improving infrastructure and improving lifestyles across the globe are playing an important role in the increasing demand for near-autonomous passenger cars.
1.2 SEMI AUTONOMOUS MARKET FOR PASSENGER CARS TO GROW ATA HIGH RATE IN ASIA-PACIFIC
Asia-Pacific is the largest passenger car market in the world, with estimated sales to be more than 30.9 million passenger cars in 2013. This market is projected to grow at a CAGR of 9.52% over the next five years. In terms of growth, Asia-Pacific is a key market for near-autonomous passenger cars. Reasons such as improving infrastructures, changing government policies towards safety, changing lifestyles etc. would induce growth for the market of these systems in this region.
Near-autonomous passenger cars have already been commercialized in the developed regions, such as Europe and North America, because of their importance in heavy traffic. On the same lines, number of Asian passenger car manufacturers such as, Toyota (Japan), Nissan (Japan), Honda (Japan) etc, has started offering near-autonomous features in their cars. In the next few years, many countries including China, South Korea, and Japan, are in the process of making few of the driver assistance systems mandatory in passenger cars. It is anticipated that the market will grow with a promising growth rate in next five years.
1.3 ADAPTIVE CRUISE CONTROL – MOST PREFERRED SEMI AUTONOMOUS MARKET FOR PASSENGER CARS FEATURE
Adaptive Cruise Control (ACC) is the foremost near-autonomous feature, and is an extension of old technology cruise control. At present the popularity of this technology is restricted to limited countries such as U.S., Japan, China, and European countries. The passenger car manufacturers such as Audi (Germany), BMW (Germany), Mercedes-Benz (Germany), Volvo (Sweden), General Motors (U.S.), Ford (U.S.), etc. are providing Adaptive Cruise Control as either a standard feature or an option in a number of passenger cars.
Government agencies in U.S. and Japan are studying the prospects of mandating ACC implementation. The future of Adaptive Cruise Control looks bright due to stringent safety and environmental regulations, and changes in the buying pattern of the people from various regions.
The report covers global semi autonomous market for passenger car in terms of volume (thousand units) and revenue ($million) across regions such as Asia-Pacific, Europe, Americas, and Middle East & Africa (MEA). It also explains qualitative and quantitative aspects of near-autonomous passenger cars with respect to their types and the technologies used in them.
The report also shows an overview of the technical aspects, among others, of near-autonomous/autonomous passenger cars. It includes an analysis of the value chain, Porters’ five forces analysis, and PESTLE analysis, the competitive landscape, and company profiles where, 22 key players in the market have also been profiled.
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