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The US Autonomous Car Market is segmented by Level of Automation (Conditional Automation (Level 3), High Automation (Level 4), and Full Automation (Level 5)).
The US autonomous car market is anticipated to register a CAGR of about 46.39% during the forecast period, 2019-2024.
An autonomous car is defined as the vehicle, which is capable of sensing its environment and moving with little or no human input.
The US autonomous car market has been segmented by level of automation.
|Level of Automation|
|Conditional Automation (Level 3)|
|High Automation (Level 4)|
|Full Automation (Level 5)|
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According to the NHTSA (National Highway Traffic Safety Administration), about 94% of the accidents occurring on the US roadways can be attributed to human errors, like drunken driving and speeding, among others. These can be mitigated with an autonomous car, in which, the functionality may follow the speed regulations stated in particular areas.
Autonomous vehicles can predict the impact between vehicles and decide a proper course of action to avoid a similar fate, to provide safer traveling on roads. This is achieved through numerous driver assistance technologies, such as lane-keeping assistance, parking assistance, and adaptive cruise control systems that have been or are being incorporated into autonomous cars.
Autonomous vehicles have experienced a major growth at the global level, from 2014 onward, as the global market is focused more on the fleet owners rather than individual owners. Navya, a global leader in the autonomous vehicles industry, produced a fleet of 45 vehicles for public transport service that is deployed across North America and Europe.
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The US autonomous car market, by the level of automation, is dominated by conditional automation (Level 3). In Level 3 automation, the autonomous vehicle driving system performs all the dynamic driving tasks, expecting the human driver to respond appropriately to the request to intervene. The dynamic driving task includes steering, braking, accelerating, and monitoring the vehicle, along with responding to events happening on the road.
Audi is the first company to come up with a Level 3 autonomous car by launching the Audi A8 in the market.
However, there are few limitations for Level 3 autonomous cars, such as constant awareness needed from the driver. Thus, this makes Level 3 automation less dependable. Consequently, several automotive manufacturers are pushing directly for level 4 autonomous cars, which do not require any inputs from humans.
Cameras, RADAR, and navigation are some of the systems deployed in conditional automated cars.
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The US autonomous car market is consolidated and is majorly dominated by a few players, such as Apple, Waymo, Tesla, Ford, Honda, BMW, Nissan, Intel, and Uber. The autonomous cars are in the testing phase and are expected to be available for commercial use in the next couple of years. The vehicle manufacturers are investing heavily in autonomous/driverless car technology and making partnerships to offer the customers the best autonomous vehicle technology. For instance,
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Level of Automation
5.1.1 Conditional Automation (Level 3)
5.1.2 High Automation (Level 4)
5.1.3 Full Automation (Level 5)
6. COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Company Profiles
6.2.1 Waymo LLC
6.2.2 Tesla Inc.
6.2.3 Ford Motor Company
6.2.4 Honda Motor Company Ltd
6.2.5 Bayerische Motoren Werke AG (BMW)
6.2.7 Intel Corporation
6.2.8 Uber Technologies Inc.
6.2.9 Apple Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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