The auto industry has seen a lower than expected growth in the first half of 2015, however the market counties to climb in the second half fueled by job creation, lower interest rates and consumer awareness in the developed countries. The market has seen a strong 8% y/y growth in the Western European markets however a mixed performance in the Asian markets was seen considering the plunge in the stock markets and the falling fuel price. The Asian markets remains volatile considering the sheer size of the market is one of the major factor for the growth, but it has an influence of various external factors such as the falling fuel price resulting fluctuations in the market. An overview suggests that global automobile market has reached a point
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It will also have the ability to take decisions based on the processed data. Looking at the above advantages, the market drivers for this technology will be:
1. Comfort:
One of the major market driver for smart cars will be comfort. The smart cars will make substantial tasks effort less and will prove as a boon in this busy city life. The mere concept of driverless cars will enable to use the time spent for driving more efficiently. Features such as complete/ partial parking assistance already in use are quite user friendly.
2. Smart grid & Renewable energy:
The rapid implementation of smart grids & smart metering coupled with a substantial amount of energy being produced from renewable energy resources will all be in favor of smart cars. This will also reduce the cost of operation of the cars considering lower price of electricity produced from the renewables. Also smart cities being developed in India and China and also around the world will cut the transport requirement per person and will promote use of cars driven by clean energy for short …show more content…
The energy efficiency of the smart vehicles is much better than the conventional vehicles. The emissions are also lowered to zero with the introduction of smart vehicles. The safety of the passengers is also increased with anti-collision and better braking system.
It is can be said, arrival of 100% driverless vehicles will take a while to become a reality. However, vehicles with partial automated control is already developed. The advantages of these vehicles in terms of safety and the level of comfort reducing driving fatigue is substantial and will promote the use of these cars in the near future. I can be observed that a large number of people are being tech savvy and will eliminate the issue of user ability to control these vehicles growing the prospects of the technology.
6 COMPETITIVE LANDSCAPE
The smart car market has Google, Samsung and Apple as the major players at the moment. Though Google has successfully tested its smart car, it does not completely manufacture a car rather integrates its software with Toyota Prius or Lexus. The market study shows that the leading companies in the IT industry will be major competitors in the smart car
It will also have the ability to take decisions based on the processed data. Looking at the above advantages, the market drivers for this technology will be:
1. Comfort:
One of the major market driver for smart cars will be comfort. The smart cars will make substantial tasks effort less and will prove as a boon in this busy city life. The mere concept of driverless cars will enable to use the time spent for driving more efficiently. Features such as complete/ partial parking assistance already in use are quite user friendly.
2. Smart grid & Renewable energy:
The rapid implementation of smart grids & smart metering coupled with a substantial amount of energy being produced from renewable energy resources will all be in favor of smart cars. This will also reduce the cost of operation of the cars considering lower price of electricity produced from the renewables. Also smart cities being developed in India and China and also around the world will cut the transport requirement per person and will promote use of cars driven by clean energy for short …show more content…
The energy efficiency of the smart vehicles is much better than the conventional vehicles. The emissions are also lowered to zero with the introduction of smart vehicles. The safety of the passengers is also increased with anti-collision and better braking system.
It is can be said, arrival of 100% driverless vehicles will take a while to become a reality. However, vehicles with partial automated control is already developed. The advantages of these vehicles in terms of safety and the level of comfort reducing driving fatigue is substantial and will promote the use of these cars in the near future. I can be observed that a large number of people are being tech savvy and will eliminate the issue of user ability to control these vehicles growing the prospects of the technology.
6 COMPETITIVE LANDSCAPE
The smart car market has Google, Samsung and Apple as the major players at the moment. Though Google has successfully tested its smart car, it does not completely manufacture a car rather integrates its software with Toyota Prius or Lexus. The market study shows that the leading companies in the IT industry will be major competitors in the smart car