Driverless Car Software Market: Introduction
In today’s world, rise in technological advancements in automobile industry is resulting into development of self-driving cars also known as autonomous cars which are capable of sensing its surroundings and obstacles while driving on road and navigating without any human interaction. Driverless car software is pre-installed control systems in the car which can analyse the data collected by sensors installed in a car to distinguish between different cars and other vehicles on the road. This software helps to decide a path to the destination. This software is computed with variety of techniques such as GPS, radar, odometry and LiDAR to detect their surroundings.
Driverless car software used in self-driving cars help in enhanced mobility for injured or disabled people and reduce traffic collisions. Further these cars also promote eco-friendly driving and lower need for insurance.
Driverless Car Software Market: Drivers and Restraints
Factors such as technological advancements and continuous research and development in automobile industry and government support are the primary factors driving the growth of driverless car software market. Moreover, increasing adoption of artificial intelligence and reduction in the fuel consumption in self-driving cars is also resulting into the growth of driverless car software market.
However, concern about safety of driverless cars and risk of privacy and security in self-driving cars are some factors causing a hindrance in the growth of driverless car software market.
Driverless Car Software Market: Segmentation
Driverless Car Software market can be segmented on the basis of vehicle type and region wise. On the basis of vehicle type the market is further segmented into semi-autonomous and fully autonomous. Region wise, driverless car software market can be segmented into North America, Latin America, Asia Pacific, Japan, Eastern Europe, Western Europe and Middle East & Africa.
Driverless Car Software Market: Regional Overview
Europe driverless car software market holds the largest market share and is expected to dominate the market in the near future owing presence of prominent automobile manufacturers in this region. North America contributes a significant market share in driverless car software market due continuous R&D in software and automobile industry in this region. Asia Pacific, Latin America, and MEA region are expected to show a moderate growth rate in driverless car software market.
Driverless Car Software Market: Key Players
Google Inc., BlackBerry Ltd., Nvidia, Baidu, Apple, Intel, nuTonomy, Bosch, FiveAI are some of the key players in driverless car software market.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.