By the end of 2020, the global passenger vehicle demand is predicted to plunge by 11% due to Covid-19 pandemic and commercial vehicle industry is expected to witness a fall in the demand for the first time in the decade.
The publisher predicts that passenger vehicle demand is expected to grow by 1.9% between 2020 to 2030 with more than 56 million cars equipped with some level of autonomy. The penetration rate of level 1 and level 2 autonomy would be highest during these years; while, level 3 autonomy will take slower pace. Besides, as per the current industry developments from tech companies and traditional OEMs, level 4/5 AVs for ride-hailing or car sharing are likely to be on streets by 2025. The trend shows that AVs for shared mobility would see larger scale deployment from 2025, across big cities with connected infrastructure and with high population density.
The current effect of COVID-19 on auto sales, development of autonomous driving technologies and its future impact have been considered in the market analysis of the study.
The autonomous shuttles and good-delivery autonomous vehicles have been deployed in few countries during this pandemic time which is expected to further give a push to this market. A separate analysis on these autonomous commercial vehicles and the competition between the players have been included in the study. Autonomous Mobility-as-a-Service (MaaS) has been a trending topic and automakers are promoting driverless ridesharing as low-cost transit option that has potential to change the transportation system. Car sharing is great opportunity particularly for the companies having hands-on autonomous vehicles such as Tesla, Daimler, Waymo, and others. Driverless ridesharing is expected to become future of intelligent transportation. The early deployment of robotaxis is expected in the countries of Western Europe, the U.S., China, and Japan.
For more information, visit https://www.researchandmarkets.com/reports/5118949/edition-2020-adas-and-autonomous-driving.