Autonomous Vehicles Market 2018 Regional Research Study To 2024 | Major Automobile Companies – (Nissan Motor Corporation, Tesla, Volvo Cars, BMW Group, Baidu, Ford Motor Company, General Motors, Toyota Motor Corporation)
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Industry Growth drivers:
1. Increasing R&D activities for development of self driving vehicles
2. Rising investment in Auto-Tech
3. Supportive government initiatives
4. Widespread adoption of ADAS platform
5. Advancement in LiDAR technology
The level 1 autonomous vehicles market will grow at a CAGR of 6% over the forecast timespan. The market growth is attributed to the increasing vehicle safety concerns and governmental regulations for vehicle safety across the globe. Furthermore, the integration of the advanced driving assistance and safety systems into passenger cars also supports the market. On the other hand, the level 2 autonomous vehicles market is expected to grow at a CAGR of 45% during the projected period. The advancements in the automotive technology such as the integration of artificial intelligence, GPS, and advanced electronic sensors such as radar, LiDAR, and ultrasonic sensors promote the market growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2. Autoliv Inc.
3. Baidu Inc.
4. BMW AG
5. Bosch GMBH
6. Continental AG
7. Daimler AG
8. Fait Chrysler Automobiles
9. Ford Motor Company
10. General Motors Company
11. Honda Motor Company Ltd.
12. Hyundai Motor company
13. Intel Corporation
14. Jaguar Land Rover Limited
15. Nissan Motor Company Ltd.
16. Nvidia Corporation
17. Subaru of America, Inc.
18. Tesla Inc.
19. Toyota Motor Corporation
20. Uber Technologies Inc.
21. Volkwagon Group
22. Volvo Car Corporation
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The Hybrid Electric Vehicle (HEV) market is estimated to grow at a CAGR of over 60% during the forecast timeline. The demand for the HEV cars is driven by the growing investments by automotive manufacturers in the development of the electronics vehicles across the globe. The supportive government initiatives such as subsidies and tax benefits to the electronic vehicle manufacturers also propel the autonomous vehicles market.
The North American autonomous vehicles market is expected to register a high growth rate with a CAGR of over 14% in 2017. The growth in the region can be attributed to the supportive government policies, which have allowed automakers and tech companies in the region to conduct testing of autonomous technologies on public roads and freeways.
Autonomous Vehicles Market size is set to exceed 60 million units by 2024; according to a new research report by Global Market Insights, Inc. The autonomous vehicles market is driven by increasing investments in the auto technology. The self-driving vehicle industry is promising huge profits and lucrative returns on investment for all parties involved in the manufacturing and distribution of autonomous car. This is encouraging large corporations and VC investors to invest in the auto-technology and to secure their share of future profits. Moreover, advancements in the automotive technology also encourage the development of autonomous vehicles.
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The major companies working on the autonomous vehicles market are Volkswagen, BMW, Fiat Chrysler Automobiles, Ford, GM, Honda, Hyundai, Jaguar, Mazda, Daimler, Mitsubishi, Nissan, Subaru, Tesla, Toyota, Volvo, Bosch, Waymo, Baidu, Uber, Continental GT, Aptiv, NVIDIA, Intel, and Autoliv. The technology players and OEMs are acquiring and forming alliances with various automakers to develop their own self-driving vehicles. These players are also partnering with regional and technology startups to develop AI-based solutions for autonomous vehicles.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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