Europe Autonomous Car Market Trend, Competition Analysis and Forecast to 2030

Posted on 2019-08-06 by P&S Intelligence in Automotive // 0 Comments

Europe Autonomous Car Market

The European fully autonomous car market is expected to reach 191.6 billion by 2030, with a CAGR of 18.4% during the period 2023–2030. Evolution in connected and electric car technology, government support for the development of autonomous cars, and need for efficient and safe travel are the major factors driving the progress of the European autonomous car market, according to P&S Intelligence.

In Europe, the prevalent laws pave the way for the growth of the autonomous car market. The rules regarding the intellectual property, product liability, corporate/M&A transactions, and cybersecurity provide a conducive environment for the European autonomous car market to prosper.

For instance, an amendment was made to the German Road Traffic Act in June 2017, enabling the driver to relinquish driving control to an autonomous car. Today, semi-autonomous cars (level 1 to level 3), wherein the steering and acceleration/deacceleration can be controlled by the vehicle itself, are already in operation, but the driver still needs to be on board to control the car during an emergency. But major original equipment manufacturers (OEMs) and technology providers are developing level 4 and level 5 autonomous cars as the government of several European countries have given their nod to carry out the testing of driverless cars on public roads, albeit under certain conditions and a highly supervised environment. These developments provide a vast growth prospect for the European autonomous car market.

Need for a safe and efficient driving option acts as a major driver

The convincing promise that the autonomous technology holds for safer performance and more efficient road traffic is the major reason for the attraction of consumers toward these vehicles, thereby driving the growth of the European autonomous car market. Several human driver-associated factors, including failure to pay attention, inappropriate speed, and unsafe distance from the vehicle moving in front, are responsible for the cause of the majority of road accidents. The facility that supports the driver offered by semi-autonomous cars via advanced driver-assistance systems (ADAS) systems is the major factor boosting the market for these vehicles in the region. Major OEMs are now integrating their cars with ADAS features, such as automatic emergency braking, adaptive cruise control, anti-lock braking system, and automatic parking, thereby providing a more safer driving experience to operators.

Market Segmentation by Vehicle Autonomy

Semi-Autonomous Car
- Level 1
- Level 2
- Level 3
Fully Autonomous Car
- Level 4
- Level 5

Market Segmentation by Vehicle Type

Internal Combustion Engine (ICE)
Hybrid Electric Vehicle (HEV)
Battery Electric Vehicle (BEV)

Market Segmentation by Application

Personal
Commercial

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Germany was the Largest Autonomous Car Market in 2018

Germany held the largest volume share, of over 20%, in the European autonomous car market, in 2018. This is due to the presence of numerous OEMs in the country, which are introducing new models with higher levels of automation. In addition, car manufacturers and their tier-1 suppliers in Germany had filed much more patents for autonomous cars than in most other countries across the continent. From 2010 to 2017, more than 5,800 autonomous vehicle patents were filed worldwide, out of which about 51.0% of the registered patents came from Germany. These recent developments in the autonomous car market in the country are predicted to benefit the overall European market during the forecast years.

Europe Autonomous Car Market Competitive Landscape

Some of the major manufacturers operating in the autonomous car market in Europe are Volkswagen Group, Tesla Inc., BMW Group, Daimler AG, Fiat Chrysler Automobiles N.V., General Motors Company, Toyota Motor Corporation, and Ford Motor Company.

About P&S Intelligence

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