Shared Driverless Vehicles Market Size, Share, Growth, Sales, Trade, Shipment, Export Value And Volume With Sales And Pricing Forecast By 2028

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