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Friday, September 20, 2024

Autonomous Vehicle Market: From Infancy to Mainstream Maturity – A 20-Year Forecast

Introduction

As the world continues to evolve, the importance of autonomous vehicles is becoming increasingly clear. With more than 90% of road traffic accidents happening due to human error, the potential safety benefits of autonomy cannot be overstated. In this article, we will explore the current state of autonomous vehicles and the future outlook for the next 20 years.

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Illustration of the levels of autonomous vehicles based on the definition from the Society of Automotive Engineers (SAE). Source: IDTechEx.

Illustration of the levels of vehicle autonomy based on the definition from the Society of Automotive Engineers. | Source: IDTechEx

Autonomous Vehicles: The Future Outlook

More than 90% of road traffic accidents happen because of human error, so the importance of autonomy and its potential safety benefits cannot be overlooked. IDTechEx this week released its report “Autonomous Cars, Robotaxis and Sensors 2024-2044,” which provides outlooks for the next twenty years in the autonomous driving market.

Autonomous vehicles (AVs) can be categorized using the Society of Automotive Engineers (SAE) levels of autonomy, ranging from 0 to 5. At Level 0 are completely unautomated vehicles, which are rarely produced nowadays, according to the research firm.

Level 2 Autonomy is Common in the Industry

As the industry moves into a new era of autonomous driving technologies, safety benchmarks and standards are evolving, forcing car companies to adopt new technologies to keep their cars competitive. In the U.S., for example, more than 50% of vehicles in 2022 had Level 2 autonomy.

IDTechEx Looks at Advancing Levels of Autonomy

Level 3 autonomy has been emerging in some European countries, the U.S., and China in recent years. With Level 3 autonomy, drivers can take their hands off the wheel and their minds off the road under certain conditions, said IDTechEx.

Autonomous Trucks Start Hitting the Roads

Autonomous trucks are another example of autonomy hitting the roads. IDTechEx predicted that prices for these vehicles will decrease globally as they become more mainstream over the next 20 years, while it predicted that sales will increase exponentially leading up to 2044.


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Conclusion

In conclusion, autonomous vehicles are seeing constant, steady progress, but they still face barriers, such as uncertainty around liability when the vehicle is operating driver-free and hesitancy from lawmakers. IDTechEx predicted that it could take 15 to 20 years for higher levels of autonomy to become widespread.

Frequently Asked Questions

Question 1: What is the current state of autonomous vehicles?

The current state of autonomous vehicles is that they are being tested and deployed in various parts of the world, with some companies already offering autonomous taxi services. However, there are still many challenges to overcome before autonomous vehicles become widespread.

Question 2: What are the different levels of autonomy?

The different levels of autonomy are defined by the Society of Automotive Engineers (SAE) and range from 0 to 5. Level 0 are completely unautomated vehicles, while Level 5 are completely autonomous vehicles with no steering wheel or pedals.

Question 3: What are the benefits of autonomous vehicles?

The benefits of autonomous vehicles include increased safety, reduced traffic congestion, and improved mobility for the elderly and disabled. Autonomous vehicles also have the potential to reduce the number of accidents caused by human error.

Question 4: What are the challenges facing autonomous vehicles?

The challenges facing autonomous vehicles include uncertainty around liability when the vehicle is operating driver-free, hesitancy from lawmakers, and the need for widespread infrastructure changes to support autonomous vehicles.

Question 5: When can we expect to see widespread adoption of autonomous vehicles?

According to IDTechEx, it could take 15 to 20 years for higher levels of autonomy to become widespread. However, we may see more limited adoption of autonomous vehicles, such as autonomous taxis, in the near future.

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