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The autonomous driving is the future of mobility and automakers are investing heavily for its development. Autonomous driving is self-driving vehicle which is capable of sensing its environment and move safely with little or no human input, depending on the level of automation. The level of automation is defined as the sharing between the human and machines with different degrees of human involvement. Level 4 (L4) autonomous driving is considered to be fully autonomous driving until system failure. If the driver ignores the warning alarm, the vehicle has the authority to move to the safe condition. Moreover, the L4 autonomous driving is capable of handling highly complex urban driving situations such as the sudden appearance of construction sites, without any driver intervention.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (USD) |
Segments covered | Component, features, sensors type, vehicle type |
Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa |
Companies covered | Waymo, General motors, BMW, Audi, Jaguar, Volkswagen, Ford, Robert Bosch, Daimler, Tesla. |
 COVID-19 scenario analysis:
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Rising safety concerns and increasing demand for driverless driving is fueling the market for L4 autonomous driving market. Additionally, the government initiatives to launch autonomous vehicles and increasing infrastructural investments is fostering the market of L4 autonomous driving. Besides, growing connectivity and rising internet speeds is driving the market growth. Moreover, development of smart cities and rising demand for IoTs is proliferating the market. However, high cost of vehicle and burgeoning threat from hackers would affect the L4 autonomous driving market. Furthermore, the wide adoption of connected vehicles is expected to provide opportunities to L4 autonomous driving market.
The L4 autonomous driving market trends are as follows:
Innovation to drive market growth
The automotive manufacturers are constantly striving for innovation in order to              meet the rising demand from consumers. Besides, the autonomous vehicles, being the future of mobility and would work without any human interaction, needs high precision engineering. For instance, in 2017, Magna International unveiled MAX4 concept to enable L4 capabilities in both urban and highway environments. Besides, the technology can be integrated into any vehicle without compromising interior or exterior design.
Development of autonomous cabs to bolster the market
Level 4 autonomous vehicles or self-driving vehicles have a high level of automation in which the vehicle can perform all driving tasks and monitor the driver's environment. The adoption of self-driving cars for the purpose of cab sharing or taxi services has increased in recent years. In 2019, Waymo’s L4 self-driving taxi service completes more than 100,000 trips. Besides, in 2019, Baidu, Pony.ai and WeRide succeeded in commercial pilot of Robotaxi on complex urban roads in limited areas, a crucial step for L4 autonomous driving in China.
Key segments covered:
Segments | Sub-segments |
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Features |
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Sensors type |
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Vehicle type |
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Key benefits of the report:
Questions answered in the L4 autonomous driving market research report:
L4 Autonomous Driving Market Report Highlights
Aspects | Details |
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By Component |
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By Features |
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By Sensors type |
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By Vehicle type |
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By Region |
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Key Market Players | Jaguar, Daimler, Audi, Volkswagen, Robert Bosch, Ford, BMW, Waymo, General motors, Tesla |
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