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Automobiles of the next generation include both electric vehicles (EV) and self-driving or autonomous vehicles. Both of these markets are expanding rapidly.
The Electric Vehicles Initiative is striving to have at least 20 million EVs (including plug-in hybrid and fuel cell electric vehicles) by 2020. Countries with particular growth rates besides China and the US are Japan, Spain, France, Germany, Portugal, the Netherlands, and India.
According to Lux Research, the market for self-driving cars will grow up to US$87 billion in 2030. The jury is still out on whether this will include fully autonomous driverless cars (“Level 4”), but automobiles with “Level 2” features (including adaptive cruise control and collision avoidance braking) will make up the vast majority of the market.
Companies that have already developed working prototype autonomous vehicles include Mercedes-Benz, General Motors, Continental Automotive Systems, IAV, Autoliv Inc., Bosch, Nissan, Renault, Toyota, Audi, Volvo, Tesla Motors, Peugeot, AKKA Technologies, Vislab from University of Parma, Oxford University, and Google.