LONDON–(BUSINESS WIRE)–Technavio market research analysts forecast the global autonomous vehicle ECU market to record a CAGR of close to 54% during the period 2018-2022, however, the market's growth momentum will decelerate due to a decrease in the year-over-year growth.
One of the major trends that is being witnessed in the market is the development of autonomous vehicles for cab and parcel delivery services. Cabs and parcel delivery services use vehicles as their main medium of transport. This permits vehicle makers to generate large amounts of data regarding various drive patterns, traffic patterns, and road conditions. Autonomous vehicles are put to many real-life scenarios during their testing for integrity and safety. They are initially launched as cabs and parcel delivery services to provide learning through all possible types of driving conditions. Thus, major autonomous vehicle makers are concentrating on developing autonomous cars for cab and delivery services since 2017. Such developments in autonomous technologies in cabs and parcel delivery services will serve as a driver for the autonomous vehicle ECU market during the forecast period.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio analysts highlight the increasing accidents due to human errors as a key factor contributing to the growth of the global autonomous vehicle ECU market:
Increasing accidents due to human errors
The increase in the number of people using cars for longer journeys has led to an increase in the number of vehicles globally. Road transport is predicted to be one of the prominent modes of transport in the coming years. Although mobility is a necessity for industrial competitiveness, it has got a price attached to it in terms of environment, sustainability, and safety. Over the last decade, the automotive industry has been actively working on enhancing road safety by preventing accidents. Most safety measures focus on drivers as human errors are the prime cause of accidents. Several technical measures, particularly active safety systems, work effectively in preventing potential accidents by urging the driver to take precautions.
About one-fifth of the accidents occur due to human errors such as drowsiness, less concentration, and fatigue. Actions such as messaging, surfing, and speaking on the phone while driving also distracts the driver. Apart from this, other factors such as change in lifestyle, working late, and driving for long hours leading to sleep disorders, increasing driver fatigue, stress, and drowsy driving result in accidents. Hence, the automotive ecosystem is supporting the adoption of semi-autonomous vehicles and will gradually shift toward autonomous vehicles that are free from human errors.
According to a senior analyst at Technavio for automotive electronics, “Though the cost of developing autonomous vehicles is high, with increasing demand and continuous innovation, the costs are expected to come down during the forecast period. Pedestrians are the most vulnerable road users and are prone to fatalities. Almost half of the vulnerable road users such as pedestrians and motorcyclists die because of rear and side impacts. Lack of perception and judgment of distance at night increases the frequency of automobile accidents.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global autonomous vehicle ECU market segmentation
This market research report segments the global autonomous vehicle ECU market into the following applications (semi-autonomous vehicles and autonomous vehicles) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The semi-autonomous vehicles segment held the largest share of around 99.92% in the global autonomous vehicle ECU market in 2017. The increasing sophistication of ADASs and the emergence of level 3 automation in vehicles during the forecast period will be a crucial driver for the growth of the semi-autonomous vehicles segment.
The Americas dominated the global autonomous vehicle ECU market, with a share of around 39% in 2017. The high adoption by this region is attributed to the high penetration of luxury vehicles with autonomous technologies.
Technavio supports Health for All campaign on this World Health Day with 20% savings on all reports in the Health and Wellness category for the entire month.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at [email protected].
Latest posts by Editorial Team (see all)
- Dubai Moves to Honour Knowledge Pioneer With $1 Million Mohammed bin Rashid Al Maktoum Knowledge Award - May 20, 2018
- Court Dismisses Andrea Tantaros Lawsuit Against Fox News And Pete Snyder - May 20, 2018
- President Jimmy Carter spurs Liberty University Class of 2018 to success through service - May 19, 2018