Examples of autonomous vehicle technology components include driver assistance systems, automotive radars, ADAS ultrasonic wave components, LiDAR system sensors, among many others. The global market for automotive radars stood at 1.2 billion U.S. dollars in 2015 and is projected to grow significantly by 2021.
Moreover, consumer interest for autonomous vehicles is growing around the globe. In 2016, a poll by the MIT in the U.S. found that 19 percent of respondents aged between 35 and 44 were willing to use partially autonomous vehicles, while 15.4 percent of respondents aged 75 or older said the same. Despite potential advantages, customer concerns still loom over the technology as users are unsure if they are ready to share the road with these driverless vehicles.