Autonomous Vehicles Market 2018 Global Leaders: General Motors, Volkswagen, Google, Baidu, Ford Motor Company, Toyota, Tesla, Audi, Jaguar

Market Research Future published a research report on “Global Autonomous Vehicles Market Research Report- Global Forecast 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.

Autonomous Vehicles Market – Overview

The demand for autonomous vehicles has gone up immensely. This market is anticipated to surface as a huge entity in the forthcoming years. The major reason for the expansion of this market can be identified as the increase in the number of road accidents over the years. Due to the increased demand for such vehicles, Market Research Future, a company that specializes in providing market research reports published a report on ‘Autonomous vehicles market’. According to their study, the market will come across several growth opportunities during the forecast period of 2017-2027.

Autonomous vehicles are basically driverless cars or cars that can drive themselves with the help of advanced technology. At present, majority of the stakeholders associated with the automobile industry are working towards developing such cars. This concept is not all new, it dates back to the 1980s, since then players have been contributing towards developing this concept.
At present, the global Autonomous Vehicles Market is at its prime and in the forthcoming projection period, it will expand at a rapid pace. This market is anticipated to generate a revenue of around 65.3 billion by the end of the forecast period. And on the other hand, the CAGR looks promising as well.

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Growing awareness amongst the general masses regarding the benefits of using an autonomous vehicle acts as a primary growth factor for this market. On the other hand, the market is also propelled by several advantages of using this vehicle such as lesser driving stress, fuel efficiency, efficient parking reducing the costs and reduced carbon dioxide emissions in the environment.

The market may however come across certain restraints like data security concerns. Efforts are being made in this direction and soon enough a plausible solution will be discovered for this market.

Segments:

Global autonomous vehicles market has been segmented on the basis of sensors which comprises of ultrasonic, radar, lidar, image and other. On the basis of hardware and software the market is segmented into cameras, communication systems, and GPS systems. Furthermore, market by type comprises of semi-autonomous vehicles and fully autonomous vehicles.

Regional Analysis of Autonomous Vehicles Market:

Globally, North America is the largest market for Autonomous Vehicles.
Europe is the second largest market for autonomous vehicle with market size of US $1.10 billion in the year 2015 but Asia-Pacific will become the second biggest market by the end of year 2027.

Due to the high technological advancement, Asia-pacific region is expected to be the fastest growing region globally, registering 29.2% CAGR during the forecast period.

Industry News

April 27, 2018 – BMW recently announced that it will be opting for a solid state LiDAR for the brand’s self-driving vehicles, which will be in the market by the year 2021. This technology will be provided to them by an Israeli startup called Innoviz Technologies. The market has high hopes from this partnership.

Key Players

Some of the key players in this market are: Google (U.S.), General Motors (U.S.), Volkswagen (Germany), BMW (Germany), Ford Motor Company (U.S.), Baidu (China), Toyota (Japan), Tesla (U.S.), Audi (Germany), Jaguar (U.K.) among others.

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Intended Audience

• Car Manufacturers
• Technology Providers
• Car Component Manufactures
• Sensor Manufactures
• Software Developers
• OEMs in automotive Industry

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This release was published on openPR.