Self-Driving Car News update
Self-driving car market is expected to witness huge surge in demand primarily across North America and Europe. The significant impacting factors include growing concern to reduce increasing road accidents, rising significant investment in industrial automation in automotive industry, worldwide demand for smart & luxury cars, increasing R&D investment for commercialization of fully autonomous cars and many others. The factors collectively create opportunities for the growth of this autonomous car market while unavailability of compatible infrastructure, privacy and safety issues create limitations in the market. However, each factor would have its definite impact on the market during the forecast period.
According to ‘World Health Organization’, about 1.25 million people are dying per year due to road traffic crashes, said in May 2016. Furthermore, in Global road traffic deaths 48% share is accounted by people from age between 15 and 44 years. In addition, the organization also stated that human errors such as over speed, drink-driving, distracted driving and many more are causing road accidents. Autonomous cars provide smart and automated driving system which can reduce most of human errors and avoid losses caused due to road accidents. World Health Organization supports to reduce road accidents by proving guidelines for good practice in road traffic injury prevention and helping government to implement suggested programs and policies. Health and safety of road users are attracting attention towards reducing road accidents. Worldwide growing concern to minimize number of rising road accidents and traffic crashes are increasing demand for driverless and fully automated cars.
Demand for automated, comfortable and smart cars is increasing which leads to growth in driverless car market worldwide. Automakers focus on using higher quality equipment to make cars technically advanced because cars symbolize status of the owner. Higher disposable income and easy financing facilities increase demand for self-driving cars worldwide. Factors such as high performance, brand consciousness, technically sophisticated features and designer varieties in cars are attracting consumers towards self-driving car market.
The key players of the market are Google Inc., Baidu Inc., Nissan Motor Company, Apple Inc., Ford Motor Company, Toyota Motor Corporation, Daimler AG, Tesla Motors, Inc., Audi AG, Dutch Automated Vehicle Initiative (DAVI), BMW AG, Volvo Group, and Volkswagen among others.