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Autonomous cars Everything you need to know about market and research trends. Autonomous cars can drive themselves without any human inputs. These cars use multiple in vehicle technologies, sensors, and robotic devices to drive between predetermined destinations. Autonomous cars are commonly classified by self driven or driverless. Self driven cars are not fully autonomous and needs intervention of human drivers. Most of the commercially available autonomous cars today are self driven cars. On the other hand, driverless cars are fully autonomous and can drive without any human interventions. Even though the concept started as early as in 1. AD when Leonardo the Vinci designed a Self propelled cart, but it really came into practice in 2. In 2. 01. 5, when Tesla started to commercialize Autopilot features in its cars, the concept became popular among all the other major car makers. Currently, several major automobile companies are engaging in research and development of both semi and fully autonomous vehicles. During the last three years quite a number of automobile giants has announced their plans to launch fully autonomous cars by 2. NASCARs latest innovation, the race management app, fuels the tech boom now rumbling throughout the larger sports landscape. SCT-7015-X4-Power-Flash-Tuner-Programmer-2013-2014.jpg' alt='Race Car Vehicle Dynamics Program Suite' title='Race Car Vehicle Dynamics Program Suite' />Corvettes are dirty cars. I dont care how many times they go to LeMans with the Z06, a Corvette will always remind me of Dirk Diggler, the 1970s, shag carpeting. The growing interest of individuals and corporates in this domain is sure going to take this industry to new heights in near future. Seeing that interest and the potential we thought to conduct a thorough market analysis of autonomous cars industry. Through this article, we have tried to gauge current market and research status of autonomous cars in as much details as possible. From companies involved in researching and manufacturing of this technology, to market challenges and strategies to solve them, we have covered almost everything you might want to know about autonomous cars. As you might have already anticipated, this article is going to be really really long 1. OB20110517002.jpg' alt='Race Car Vehicle Dynamics Program Suite' title='Race Car Vehicle Dynamics Program Suite' />I have created an index which you can use to jump to section of your interest Also, to make it even more convenient, I converted this whole article into a printable PDF. You can download the pdf version using this form Table of Contents. History of Autonomous Car Technologiessource WIREDLevels of Autonomy. According to the National Highway Traffic Safety Administration, autonomous cars are segmented under six different levels of autonomy starting from Level 0 to Level 5. The following table explains the autonomy levels in the vehicles. Autonomous Vehicle Levels. MARKET SIZE AND GROWTH POTENTIAL OF SELF DRIVING CARSVarious global consulting and research firms have come up with different estimates of autonomous cars market size. Lux Research, in one of their reports, revealed that self driving car market has the potential to become an 8. Level 2 vehicles are estimated to capture 9. According to their report, no Level 4 or Level 5 vehicles will be operational by 2. On the other hand, according to US based consulting giant BCG, autonomous vehicle market could reach 7. The group says nearly 1. Autonomous Car Sales estimated 2. Estimated Growth Rate of Autonomous Vehicles. Source BCGThe self driving cars capable of piloting through highway and traffic jams are most likely to be available by the end of 2. By this time, the global market will be worth around 4. Share of Autonomous Car Sales in the Total Market 2. Vs 2. 03. 5s. Market Share of Autonomous Vehicles. Source BCGAccording to most of the industry experts, North America will become the leading market for such cars. Another analysis published by IHS, the US will be the early player in autonomous car segment. EnSight-Gold.jpg' alt='Race Car Vehicle Dynamics Program Suite' title='Race Car Vehicle Dynamics Program Suite' />While, BCG has a different view about the geographic acceptance of autonomous cars. Their reports points that Japan and Western Europe will be the earliest adopter of such cars while US and China will follow. Why Driverless Cars Are Better Market Drivers and Challenges Autonomous Cars. Higher Safety and Possible Decline in Road Accident. According to industry experts, autonomous cars are expected to be safer as compared to the traditional cars. Advanced modern day sensors and machine learning technologies are being used in these cars. Additionally, these cars are backed up with impressively advanced artificial intelligence systems being developed by some of the leading companies such as Nvidia, Intel, and many more. As a result, chances of failure are less. Using driverless cars will let the vehicles to travel at a much closer to each other and also allows the vehicles to notice parking spots and auto park. Hence, this results into smoother traffic flow and leads to better fuel competence of the vehicles. According to the researchers, driverless cars could reduce fatal accidents by 9. US. 1. 4Reduced Cost and Human Efforts. Autonomous vehicles will most definitely decrease the requirement of human drivers and can be helpful to industries facing lack of man power. The precious time saved using autonomous cars can be used in other more significant tasks. High Consumer Adoption. Autonomous cars have gained the attention of a lot of consumers, especially in the developed nations. Countries such as Japan, the US, Germany, the UK, Canada, Singapore, and China have already shown positive intent to accept autonomous vehicles. Quoting a Deloitte study published in 2. US consumer interest in advanced vehicle automation has increased since 2. As per the study, in 2. US consumers, as compared to 5. The 1. 1 increase shows a growing interest of citizens in autonomous industry. Percentage of US Consumers Interested in Different Levels of Autonomous Technology. Source Deloitte. On the other hand, BCG conducted a survey to gouge consumer sentiments about these autonomous vehicles in the US. They interviewed 1. According to the results 5. Most of the respondents cited lower insurance premium and safety as the key reasons to buy such vehicles1. Top Three Reasons Why People Prefer Buying a Partially Autonomous Vehicle. Source BCGWhats stopping driverless cars from becoming a reality at the momentRegulatory Uncertainty. Most of the countries that have started testing autonomous vehicles have not yet provided a concrete regulatory guideline for such autonomous vehicles. There are still no guidelines or regulatory framework in which autonomous vehicles can run. Even though governments of some countries including the US, Japan and Singapore showed interests in commercializing autonomous technologies, but it is still in a stage of development. Many research organizations have cited Laws licensing, and regulations as one of the biggest challenge in the marketing of AVs. Trials of such cars are going on in multiple states in the US including California, Michigan, Florida, and Nevada. Many European countries such as Germany, the UK, Spain, Belgium, Italy and France are also going through trails of autonomous cars. According to European Commission, automated vehicles faces challenges to establish rules for technologies that are not yet applied. Additionally, another challenge is to decide how the safety of automated vehicles should be tested and by whom. Such Regulatory uncertainty could cost a lot to several companies that have heavily invested on autonomous technologies. Technical Challenges. Predictions that say AVs will hit roads in next five to ten years timeline are highly positive. Modern day AVs, on the other hand, are hardly road ready. Science. News Magazine listed five key technological challenges that might become a roadblock for autonomous cars. One of the key problems of these five includes cyber security.