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DUBLIN, Sept. 16, 2020 /PRNewswire/ — The “Edition 2020, ADAS & Autonomous Driving Technology – Market & Industry Analysis, Forecast – 2020 – 2040” report has been added to ResearchAndMarkets.com’s offering.
By the end of 2020, the global passenger vehicle demand is predicted to plunge by 11% due to Covid-19 pandemic and commercial vehicle industry is expected to witness a fall in the demand for the first time in the decade. All the major markets are estimated to witness sharp decline, while, the countries including the U.S., Italy, India, France, South Korea, Japan, China, United Kingdom, and Spain are expected to witness fall of more than 10%. From a more optimistic perspective, the year 2021 could see a positive growth- curve in terms of passenger cars demand; however, the auto industry would at least need minimum of 5 years’ time to regain the sales volumes of 2019. The publisher predicts that passenger vehicle demand is expected to grow by 1.9% between 2020 to 2030 with more than 56 million cars equipped with some level of autonomy. The penetration rate of level 1 and level 2 autonomy would be highest during these years; while, level 3 autonomy will take slower pace. Besides, as per the current industry developments from tech companies and traditional OEMs, level 4/5 AVs for ride-hailing or …
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