Shared Driverless Vehicles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Shared Driverless Vehicles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : October, 2020 | Technology & Media | PPT format

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 

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?