The global near-autonomous passenger car market is suggested to have reached a value of around $10.6 billion at the start of 2013, and is forecast to grow to a total of $21.4 billion by 2018. This suggests a CAGR growth rate of 15.08% between 2013 and 2018.
The flourishing demand for premium cars across the globe, along with existing as well as upcoming stringent safety regulations, will drive the market for near-autonomous passenger cars. The near-autonomous passenger car market in 2013 is projected to be dominated by Adaptive Cruise Control and Adaptive Front Lights, in terms of revenue.
The major automobile manufacturers such as Audi (Germany), BMW (Germany), Mercedes-Benz (Germany), Volvo (Sweden), and others are manufacturing passenger cars installed with near-autonomous features to provide better vehicle, driver & passenger safety& comfort, better handling, high performance, and environment friendly cars. The near-autonomous passenger car system market is dominated by the key players such as Continental (Germany), Robert Bosch (Germany), Denso (Japan), Magna (Canada), and Valeo (France). These five significant companies, together, held about 70% of the total market in 2011.
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