Technavio’s latest market research report on the global level 3 autonomous vehicle market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global level 3 autonomous vehicle market from 2017-2021. (Graphic: Business Wire)
Neelam Barua, an industry expert from Technavio, specializing in research on automotive electronics sector says, “In terms of shipment, the global level 3 autonomous vehicle market is expected to grow at a CAGR of over 23% due to the increasing adoption of advanced driver assistance systems, which play a pivotal role in level 3 autonomous vehicles.”
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The top three emerging market trends driving the global level 3 autonomous vehicle market according to Technavio automotive research analysts are:
- Over the air updates for automotive software
- Vehicle platooning to improve fuel efficiency and reduce traffic congestion
- Driver state monitoring
Over the air updates for automotive software
In recent years, the number of electronic components in vehicles has increased exponentially. This is due to the increased installation of driver assistance and safety features in automobiles, making the electronic hardware and software the most crucial parts of today's automobile. Thus, there is increasing need for updates for the software installed in automobiles. With the number of connected devices increasing, it will not be a cost-effective option for OEMs to provide software updates via their dealerships. This might also lead to inconvenience for customers as they must visit the dealer frequently for even small software updates. Thus, OEMs have focused their efforts on the development of remote over the air (OTA) update firmware and software update platforms.
Vehicle platooning to improve fuel efficiency and traffic congestion
In vehicle platooning, multiple cars, buses, and trucks travel at an aerodynamically efficient distance and drive cooperatively by maintaining the distance at high speeds. For this purpose, the platooning system uses advanced driver assistance systems (ADAS) installed in the vehicles along with high-end explicit platooning algorithms involving sensor fusion of radar, LiDAR, and cameras. Wireless connectivity enables communications among vehicle fleets. The vehicles in the platoon automatically synchronize speed and braking actions, thereby resulting in higher fuel efficiency for all vehicles in the platoon.
“In platooning technology, sensors play a critical role in maintaining distances between moving vehicles and to detect road conditions and driving scenarios,” says Neelam.
Driver state monitoring
The automotive industry has been witnessing structural changes since the past decade in the form of engine downsizing, electrification of automotive mechanisms, emission regulations, etc. to produce vehicles that are safer and more efficient. Although significant progress has been made in the field of safety, on-road accidents and collision rates remain high.
One area that has been gaining importance is a driver state monitoring system that attempts to measure the driver's behavior and warns against fatigue or drowsiness that could potentially lead to a collision or accident. Accidents caused due to drowsiness are more common and frequent with the drivers of commercial vehicles, especially in heavy-duty transportation where long haul travel is common. Therefore, various automotive suppliers across the globe are developing and offering such driver vigilance systems, which can keep track of the driver's behavior and warn or alert the driver in case of potential collisions.
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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