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3 trends reshaping North America autonomous cars market landscape

Author : Ronak Bora | Published Date : 2020-11-17 

Automation has been one of the biggest emerging trends in the automaking business in recent years. Self-driving cars are no longer a technology of the future. They can be seen on roads today, with test fleets being rolled out in North America, Europe, and some parts of Asia Pacific.

Now among the industry leaders in the driverless technology, the contributions of U.S. towards autonomous space have been fueled by the presence of auto giants like Ford Motor Company, General Motors, Fiat Chrysler Automobiles, Waymo, Uber, Tesla, and several others. Many of these automakers are exploring collaboration strategies to keep with the autonomous mobility trend.

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For instance, General Motors announced a strategic alliance with Honda in September 2020 to accelerate innovation in self-driving cars and electric vehicles in North America.   

North America autonomous cars industry is set to witness a monumental growth over the next few years, driven by constant technological developments. Highlighted below are some of the major trends that will transform the regional autonomous mobility landscape in the near future.

  • Supportive government initiatives and policies

Recent developments in self-driving technology have been supported by favorable government initiatives and policies. Respective governments have undertaken numerous efforts to help carmakers as well as tech companies to test the technology on public roads easily and safely. Government authorities are also collaborating with automakers to accelerate technological innovations.

In the upcoming years, leading auto manufacturers are expected to invest substantially in research and development to come up with futuristic auto designs. In addition, the growing popularity of self-driving vehicles among the public is likely to bolster the industry outlook significantly.

  • Growing popularity of hybrid and battery EVs

Internal combustion engine (ICE) powered vehicles captured more than 95% revenue share of North America automount vehicles market in 2017 and are likely to witness a healthy growth by 2024. ICE-powered vehicles are still extremely popular in the region due to the unavailability of alternate technology as well as lack of suitable infrastructure to support newer technologies.

However due to mounting environmental concerns, the popularity of hybrid and battery electric cars has surged rapidly in recent years. These vehicles are generating lower emissions and provide significant advantage in terms of efficiency and performance. Investments in development of optimum EV charging infrastructure over the next few years will certainly augment the technology adoption.

  • Constant technological innovations by carmakers

General Motors Company, Ford Motor Company, Volvo Car Corporation, Toyota Motor Corporation, Volkswagen Group, Nvidia Corporation, Uber Technologies Inc., Waymo, Tesla Inc., Subaru of America, Inc., and Autoliv Inc. are some of the leading autonomous technology companies across North America. These companies heavily rely on mergers, acquisition, and collaboration strategies to expand their market presence.

Several manufacturers are exploring ways to integrate advanced technologies such as AI to lead innovation in the self-driving space. Citing an instance, in February 2017, Ford had announced plans to invest more than US$1 billion in AI startup Argo over the course of five years. The startup would serve as an AI research and development center for Ford.

 

It is quite clear that North America, with the presence of global auto giants and strong centralized government policies, is an attractive environment for autonomous technology development. Regional automakers have been leading innovations in the space since the very beginning. Reliable driverless vehicles are already here, promising a wave of efficiency that will completely revolutionize the automotive industry. 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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