Car Rental Market Research report, Analysis, Forecast, Trends, Outlook, Segmentation : Ken Research

Posted September 25, 2018 by ken001

Car rental industry is leading a significant growth with the enhancement in the technology of cars .
Car rental industry is leading a significant growth with the enhancement in the technology of cars whereas, in the recent trend the autonomous car or a self-driving car is a conveyance that uses amalgamation of cameras, radar, sensors and artificial intelligence (AI) to travel between the destinations without the interruption of a human being. The potential benefits of self-driving cars involve increased safety, increased customer satisfaction, reduced crime, increased mobility and others. According to the report analysis, ‘Car Rental Industry Research And Market Reports’ states that the autonomous vehicles eventually will incorporate onto U.S. roadways by processing through six levels of driver assistance technology advancements in the near future. Moreover, from Tesla to Google to Uber to all the leading automakers, bring you the significant coverage of the race to enhance fully autonomous vehicles. The driverless cars, including Google’s self-driving car design, have logged thousands of hours on the American road, but they are not yet commercially available on a large scale.
For a car to be entirely called as self-driving, a vehicle must be able to steer without a human being interruption to a pre-decided destination onto roads that have not been modified for its use due to frequent testing. Moreover, there are numerous technologies used in the self-driving vehicles. The technology of Artificial intelligence continuously improves the performance of vehicles aided by repeated software updates and new designs via the cloud technology. According to the report analysis, ‘Market Research Reports For Car Rental’ states that fully-driverless technology is still at an advanced testing platform, but moderately automated technology has been around for the recent last years. The cloud based data handling and maintain tool that analyzes real-time data such as the proximity of the car signaling and speed of the vehicle the need for action like lane-switching or braking. Moreover, the LIDAR (Light Detection and Ranging) technology senses brake lights and transform road condition. RADAR is another sensor which is installed effectively in the autonomous cars by which determine the distance, angle and velocity of surrounding objects with the help of detection system. Additionally, the key players of autonomous cars doing effective working for enhancing the features and applications of the technology installed in this which make the market more effective and competitive.
In USA 33 states currently enable the operations of autonomous cars on the public road whereas Germany, UK and USA have passed various legislations. In US, government passed a bill to anticipate the liability and has also been functioning the policies related to the concern of insurance with respect to self-driving vehicles. Moreover, the various other countries have also determine the inevitable future with the usage of self-driving car. Hence, the market with the autonomous car has witnessed a significant growth. Moreover, there are various technological restrictions include with autonomous car industry and would likely be the cause of delay between depending autonomous cars which enable the driver to take control in certain conditions and totally self-driving cars, which need no driver intervention. Industry veterans recommend that the role in attain the reduction of this difference shall be mainly played by technological startups and players.
With the numerous companies in this sector the car rental market is become competitive and only this competition is intensifying as the technology is being upgraded further and developments take place. General Motors, Ford and Renault, Daimler – Bosch are the few major players in this industry whereas, Google and Apple are the monsters to perfect this technology moreover, this industry has witnessed collaboration between the BMW partnered with Intel to function on their new automotive venture. Therefore, in the coming years it is expected that the car rental industry with the autonomous cars will lead a significant growth over the decades with the more development in the technology which transform this industry more evenly.
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Last Updated September 25, 2018