Shared Driverless Vehicles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Shared Driverless Vehicles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Shared Driverless Vehicles Market – Introduction
Share-centric landscape is emerging as a popular, modern trend, which is poised to impact the vehicle ownership economics worldwide in the upcoming years. Shared driverless vehicles are used commonly as autonomous vehicles are becoming more prevalent and consumers are becoming environment-conscious. Recent advancements in technologies are enabling a mounting number of individual owners and new businesses to participate in the shared driverless vehicles market.
Shared driverless vehicles are autonomous vehicles that are emerging as an alternative to traditional modes of public transportation. Numerous sensors and components, such as RADAR, GPS, video cameras, and LiDAR systems, play a pivotal role in shared driverless vehicles by working concurrently to perform the operations of shared driverless vehicles automatically. With the help of various operations of these sensors and components, such as motion planning, situational analysis, and trajectory control, the process of navigation is carried out in shared driverless vehicles.
Shared Driverless Vehicles Market – Notable Developments
2getthere, IBM, Easymile, Olli, and Navya Arma are among the leading players in the shared driverless vehicles market.
- 2getthere – a leading player in the shared driverless vehicles market headquartered in the Netherlands – announced in April 2018 that the Brussels Airport and Vlaamse Vervoersmaatschappij De Lijn, a Flemish government-led public transportation company, collaborated with 2getthere for the Brussels Airport Autonomous Shuttle project. The company will be supplying its fully autonomous, self-driving shuttles to link the Brussels Airport with its parking area. This will make the Brussels Airport the first airport in Europe to have used shared driverless vehicles to incorporate autonomous shuttle in mixed traffic.
- EasyMile SAS – another leading company in the shared driverless vehicles market – announced its first ever on-road deployment of shared driverless vehicles for implementing an autonomous vehicle shuttle in the State of Colorado as well as in Denver. The autonomous shuttle is fully autonomous and the shared driverless vehicles will soon be designed and programmed to make designated stops on its predesigned routes. The company also declared that these shared driverless vehicles can carry up to 12 passengers and run at an average speed of 12-15 miles/hour.
Shared Driverless Vehicles Market Dynamics
Rapidly Growth Trends of Urbanization will Complement Developments in the Shared Driverless Vehicles Market
More than 50% of the global population lives in cities, and the trend of urbanization spread rapidly worldwide post the Great Recession, according to a report by United Nations (UN). The UN report predicts that nearly 70% of the global population will move to urban areas by the end of 2050, which is impacting a wide range of industrial sectors including the automotive and transportation industries.
Increasing population in urban areas is putting immense pressure on the transportation sector, encouraging governing bodies to opt of more convenient and ecofriendly modes of transportation such as shared driverless vehicles. Thereby rapidly growing trend of urbanization is expected to boost adoption of shared driverless vehicles, boosting growth of the shared driverless vehicles market in the coming future.
Consumer Fear Associated with Riding in Shared Driverless Vehicles is Stalling the Market Growth
According to the American Automobile Association’s (AAA) multi-year tracking study, the number of American drivers reporting that they would be afraid to ride in shared driverless vehicles upped significantly from around 63% in 2017 to over 73% in 2018. Furthermore, the study also found that nearly 63% of the adult population in the United States reported they feel that it would be less safe to share the road with a driverless vehicle or a shared driverless vehicle while riding a bicycle or walking. Various factors, such as increased threats from hackers in the driving operation of a shared driverless vehicles and the potential for the accidental misuse of the systems, are leading to a low consumer acceptance ratio. This is hampering the growth of the shared driverless vehicles market.
Shared Driverless Vehicles Market Segmentation
Based on its types, the shared driverless vehicles market is segmented into
- Fully Autonomous Vehicles
- Semi-autonomous Vehicles
Based on the component types, the shared driverless vehicles market is segmented into
- GPS Navigation System
- Radar Sensor
- LiDAR Senor
- Video Cameras
- Central Computing System
- Ultrasound Sensor
Based on the level of automation, the shared driverless vehicles market is segmented into
- Level 5
- Level 4
- Level 3
Based on its applications, the shared driverless vehicles market is segmented into
- Robo-cabs
- Self-driving Buses
- Self-driving Trucks
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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