Europe Autonomous Vehicle Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching US$ XX Bn.
Europe Autonomous Vehicle Market, By Type
Europe Autonomous Vehicle Market:
Governments around the world are working on how they can deliver AVs’ anticipated public benefits. These include the prospect of improved road safety, efficient public transport services, and cleaner cities with green spaces.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
1.35 million People were killed on the world’s roads in 2016, human error causes at least nine in 10 accidents. Removing human error risk by moving to AVs can deliver an enormous reduction in vehicle related deaths.
The UK government’s forward thinking approach to deploying AVs places it second on the policy & legislation pillar, and first on the new data sharing sub-pillar. In August 2018, the UK Parliament passed the Automated and Electric Vehicles Act, which adapts the existing motor insurance framework by extending compulsory insurance to AVs as well as the driver. In November, the government announced support for three public trials in 2021, including AV buses across the Forth Bridge in Scotland & self-driving taxis in London. Additionally, in December 2018, the UK Parliament published an extensive report outlining their proactive approach to pursuing the benefits of MaaS.
On other hand there will be an ongoing arms race between hackers & software designers over autonomous vehicles control, which will add costs & risks. Autonomous vehicles currently have high operational failure rates. In 2019 the best test vehicles experienced one disengagement (when human drivers overrode automated systems) per 16,666 miles. Many disengagements have non-critical risks, most disengagements occurred on surface streets, & disengagement rates have declined, but this indicates that in 2020 autonomous vehicle operating technologies are not ready for implementation, particularly in mixed urban traffic.
Countries leading the race in during 2020-2027.
UK, Germany, France, Spain, Finland, Austria, Hungary, the Netherlands, Norway, Sweden have taken the lead when it comes to acceptance of Autonomous vehicles. Europe Autonomous Vehicles Market is characterized by the occurrence of many players including Audi, BMW, Mercedes, Volkswagen, Waymo, and others. Key players in the region are leveraging on the strategy of partnership, M&A & investments to bring technological advancements in the autonomous vehicle industry & increase its services globally. For instance, In July 2017, Bosch GMBH joined forces with Baidu & Nvidia for its Apollo project. The joined forces aimed at accelerating the development of self-driving car technology.
The Autonomous Vehicle Market is expected to grow during forecast period due to early adoption of autonomous transport in the region. Key players in the region are conducting the level-4 test, the early conduction of test is expected to drive the market towards north.
Research & Development:
The European automotive sector spends €57.4 billion on R&D per year. Europe is one of the top world players in this field. The sector has a manufacturing output of near about 20 million vehicles & contribution to the European GDP of 6.8%, employing over 13 million people and with a leading role in research and industrial innovation.
Automation is one of the Key drivers of innovation in the auto industry, making it is a significant factor in the future viability of the sector in Europe. Indeed, research and pre-deployment projects focusing on automated driving give a strong boost to the technological competitiveness of auto manufacturers, helping the industry to maintain its position as an engine for growth and jobs.
The objective of the report is to present a comprehensive analysis of the Europe Autonomous Vehicle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Europe Autonomous Vehicle Market dynamics, structure by analyzing the market segments and project the Europe Autonomous Vehicle Market size. Clear representation of competitive analysis of key players by Deployment Types, price, financial position, Product portfolio, growth strategies, and Country presence in the Europe Autonomous Vehicle Market make the report investor’s guide.
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Scope of the Europe Autonomous Vehicle Market:
Europe Autonomous Vehicle Market, By Type
• Semi-Autonomous
• Fully Autonomous
Europe Autonomous Vehicle Market, By Hardware & Software
• Cameras
• Communication Systems
• GPS systems
Europe Autonomous Vehicle Market, By Sensor
• Radar
• Lidar
• Image Sensor
• Others
Europe Autonomous Vehicle Market, by Country:
• U.K
• Germany
• France
• Spain
• Rest of Europe
Europe Autonomous Vehicle Market Key Players:
• Delphi
• Ford Motor
• Tesla
• Alphabet
• Intel
• Daimler Group
• Google
• Volkswagen
• Baidu
• Jaguar
• General Motors
• BMW
• Toyota
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