Rise in incorporation of advanced features in vehicles for comfort and safety of passengers is prompting vehicle manufacturers to increase the installation of autonomous driving components in their vehicles. These driving components, such as sensors, cameras, and display, help to drive the vehicle through connectivity and without any human interference.
Key Drivers of Autonomous Driving Component Market
Rise in vehicle production integrated with growing safety standards across the globe is likely to propel the autonomous driving component market. Growing trend of autonomous driving is likely to boost the autonomous driving component market. Rise in adoption of artificial intelligence and Internet of things (IoT) in vehicles is prompting vehicle manufacturers to develop autonomous vehicles. Enactment of stringent rules and regulations regarding safety standards in the vehicle is likely to boost the autonomous driving component market across the globe. Increase in mergers and acquisitions between leading players across the globe for the development of autonomous driving components is likely to fuel the autonomous driving component market across the globe.
Rise in demand for connected vehicles across the globe is likely to propel the global autonomous driving component market. Rise in integration of infotainment systems in vehicles is likely to further boost the autonomous driving component market across the globe. Growing investments for the development of streamlined traffic infrastructure by various governments across the globe is anticipated to boost the autonomous driving component market across the globe.
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Europe & Asia Pacific to hold significant share of global autonomous driving component market
Europe is projected to account for a major share of the global autonomous driving component market due to a rise in the demand for autonomous vehicles across the region. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers, including Robert Bosch GmbH, Valeo, Denso Corporation, Aptiv and Delphi Automotive who have major facilities that undertake research & development on the autonomous driving component, which is likely to propel the autonomous driving component market across the globe.
Followed by Europe, Asia Pacific is projected to hold a significant share of the global autonomous driving component market due to enactment of stringent norms regarding safety features in vehicles. Presence of major automotive industries across China, India, and Japan is anticipated to propel the autonomous driving component market across Asia Pacific.
Key Players Operating in Autonomous Driving Component Market
The autonomous driving component market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the autonomous driving component market are:
Advics Co.Ltd.
Altera Corporation
Intel Corporation
Autoliv Inc.
Siemens AG
Delphi Automotive
Omron Corporation
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anna Joined: March 23rd, 2020 Articles Posted: 263
