Shared Driverless Vehicles Market - Current Outlook Of Industry & Forecast 2018-
Posted by poojatmr on February 18th, 2019
Shared Driverless Vehicles Market – Introduction
Share-centric landscape is emerging as a popular, modern trend, which is poised to impact the vehicle ownership economics worldwide in the upcoming years. Shared driverless vehicles are used commonly as autonomous vehicles are becoming more prevalent and consumers are becoming environment-conscious. Recent advancements in technologies are enabling a mounting number of individual owners and new businesses to participate in the shared driverless vehicles market.
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Shared driverless vehicles are autonomous vehicles that are emerging as an alternative to traditional modes of public transportation. Numerous sensors and components, such as RADAR, GPS, video cameras, and LiDAR systems, play a pivotal role in shared driverless vehicles by working concurrently to perform the operations of shared driverless vehicles automatically. With the help of various operations of these sensors and components, such as motion planning, situational analysis, and trajectory control, the process of navigation is carried out in shared driverless vehicles.
Shared Driverless Vehicles Market – Notable Developments
2getthere, IBM, Easymile, Olli, and Navya Arma are among the leading players in the shared driverless vehicles market.
Shared Driverless Vehicles Market Dynamics
Rapidly Growth Trends of Urbanization will Complement Developments in the Shared Driverless Vehicles Market
More than 50% of the global population lives in cities, and the trend of urbanization spread rapidly worldwide post the Great Recession, according to a report by United Nations (UN). The UN report predicts that nearly 70% of the global population will move to urban areas by the end of 2050, which is impacting a wide range of industrial sectors including the automotive and transportation industries.
Increasing population in urban areas is putting immense pressure on the transportation sector, encouraging governing bodies to opt of more convenient and ecofriendly modes of transportation such as shared driverless vehicles. Thereby rapidly growing trend of urbanization is expected to boost adoption of shared driverless vehicles, boosting growth of the shared driverless vehicles market in the coming future.
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Consumer Fear Associated with Riding in Shared Driverless Vehicles is Stalling the Market Growth
According to the American Automobile Association’s (AAA) multi-year tracking study, the number of American drivers reporting that they would be afraid to ride in shared driverless vehicles upped significantly from around 63% in 2017 to over 73% in 2018. Furthermore, the study also found that nearly 63% of the adult population in the United States reported they feel that it would be less safe to share the road with a driverless vehicle or a shared driverless vehicle while riding a bicycle or walking. Various factors, such as increased threats from hackers in the driving operation of a shared driverless vehicles and the potential for the accidental misuse of the systems, are leading to a low consumer acceptance ratio. This is hampering the growth of the shared driverless vehicles market.
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