Market Research Report
Germany Autonomous Vehicle Market Research Report: By Vehicle Autonomy, Vehicle Type, Application and Competition Analysis and Growth Forecast to 2030
|Published by||Prescient & Strategic Intelligence Private Limited||Product code||911257|
|Published||Content info||151 Pages
Delivery time: 2-3 business days
|Germany Autonomous Vehicle Market Research Report: By Vehicle Autonomy, Vehicle Type, Application and Competition Analysis and Growth Forecast to 2030|
|Published: June 1, 2019||Content info: 151 Pages||
An autonomous vehicle can drive itself from one point to another in an auto-pilot mode. The vehicles, which make use of different technologies, such as global positioning system and adaptive cruise control, and lasers and radar, are primarily of two type - fully autonomous and semi-autonomous. Advancing at a 20.2% CAGR during 2023-2030, the German fully autonomous vehicles market is projected to reach $28.0 billion by 2030. The major influencers of the market are the growing need for a safe and efficient driving option and supportive government measures in popularizing them.
To produce autonomous vehicles, increasing collaborations and partnerships among manufacturers and software providers is the trend in the German autonomous vehicles market. Besides electric components, a vehicle requires software and other features to become self-driven. This necessitates the need for collaboration among different manufacturers and service providers. Apart from designing and manufacturing, even the testing of such vehicles can be a costly affair, which is why companies enter into partnerships. For instance, KPIT Technologies Limited, TTTech Computertechnik AG, and BMW AG collaborated in 2018 to develop autonomous driving software.
Owing to supportive government policies, the German autonomous vehicles market is experiencing growth. This resulted in Germany being the first country in the world to allow the use of fully and highly autonomous driving systems. The decisions taken by the German government, such as its 2016 announcement to develop autonomous driving infrastructure in the country, are giving impetus to manufacturers. Further, in June 2017, the German Road Traffic Act was amended, thereby enabling the driver to pass the car controls to the autonomous driving system.