SAN FRANCISCO -- Autonomous cars, also known as driverless cars, robotic cars, or self-driving cars are autonomous vehicles capable of fulfilling transportation functions of traditional cars. The driverless cars market is expected to witness significant growth over the forecast period owing to technological proliferation. These vehicles exhibit the capability to alter transportation systems by providing ease of mobility to the elderly or disabled population. All the aforementioned benefits are expected to positively impact the driverless cars market growth.

Furthermore, issues such as privacy & security concerns along with risk of system failure may affect the driverless cars market growth. However, legal requirements across many countries, stating that all vehicles, at all times must have a driver controlling the car may act as a major barrier to the driverless cars market growth. Proliferation of driverless cars is also hindered substantially due to high cost needed for large scale production. Additionally, technology needed for autonomous vehicles is also fairly expensive, and may restrain market growth.

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A few key driverless cars market participants include Google, Magna International, Aisin, Altera Corp., Intel and Continental AG. Google Inc has invested in developing a driverless car prototype for fully automatic driving. On account of technological advancements and R&D initiatives, the U.S. is expected to witness significant market growth.

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