Europe Self-driving Car Market Growth Analysis and Industry Forecast 2022 to 2030

The study offers in-depth regional analysis of market scenarios, by analyzing previous trends and covering future forecast. It also offers an in-depth analysis of major driving factors, segments, regions & countries and key players in the market. Moreover, the report outlines the competitive scenarios across different geographies, along with some key market strategies such as mergers and acquisitions, new product developments, R&D activities and more.

The Europe Self-driving Car Market is expected to expand at a CAGR of 49.9%, leading to global revenue of USD 38.51 Bn by 2024.

The key players in the Europe Self-driving Car Market are Apple, Microsoft, IBM, Volvo, Nissan and Bosch.

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It is expected that the self-driving car would reduce car crash by 90%.

A self-driving car also known as the driverless car or an autonomous car, a robotic car uses a combination of, cameras, radars sensor, GPS system and artificial intelligence (AI) to travel between destinations without the need of any human drivers. To quantify self-driving cars must be able to drive to a predetermined destination without human conduction.

Europe self-driving car market is further segmented based on applications, automation and technology components. The segment applications are also categorized into personal use and commercial use. Most of the self-driving cars on the road are owned for personal usage. Robo taxi i.e. the self-driving taxi is expected to take over the transportation system. It would help to reduce purchasing cost and maintenance cost. It is supposed to encourage share riding concept.

Based on automation, the self-driving automation levels are categorized into semi-autonomous and full autonomous technology. Semi-autonomous cars are dominating the automation segment. Fully autonomous driven vehicles are still a long way to be introduced on the roads. European automakers are working on the manufacturing of semi-automation cars. Companies like Google, Audi and BMW are continuing its autonomous testing to handle safety challenges.

The self-driving Car market segment is based on various technological components that are used in autonomous cars like radar, lidar, automotive vehicle camera, ultrasonic sensor and GPS navigation system. The new car assessment program in Europe encourages the OEMs (original equipment manufacturers) to adopt ADAS (advanced driver assistance system) in all the new cars to promote safety. The European Commission is willing to legalize the use of 79GHZ radar sensor for ADAS applications.

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Based on countries, the self-driving car's market is segmented into EU5 and rest of EU5. The EU5 would secure the highest market share because countries like the U.K. and France are progressing with self-driving cars.

Key growth factors

European countries are following the same trend as that of North America toward driving an autonomous vehicle. The British government has already planned to adopt regulation of driverless technology regulation by summer 2017 and working on amending the international law to cover self-driving technology by 2018.
It is projected that there would be 25% of self-driving car penetration in this region by 2035. The countries would not witness a fully automated vehicle but would drive lots of manual cars with computerized features.

Threats and key players

Factor that may restrain the adoption of self-driving cars is lack of skill, strict data protection regulation set by the European Union.

Whats covered in the report?

Overview of the Europe self-driving car market
Market drivers and challenges in the Europe self-driving car market
Market trends in the Europe self-driving car market
Historical, current and forecasted market size data for the Europe self-driving car market
Historical, current and forecasted market size data for the applications of cars in Europe self-driving car market (personal use and commercial use)
Historical, current and forecasted market size data for the automation level in the Europe self-driving car market (semi-automation and fully-automation)
Historical, current and forecasted market size data for the technological components in the Europe self-driving car market (radar sensors, video cameras, lidar sensors, ultrasound sensors, and GPS navigation systems)
Historical, current and the forecasted countries (EU5 and rest of EU5) market size data for the Europe self-driving car market
Analysis of the competitive landscape and profiles of major companies operating in the market

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Why buy?

To gain insightful analysis of the entire market and have a comprehensive understanding of the Europe self-driving car market
To understand the growth drivers and challenges in the self-driving cars market and its impact on the European scenario
To analyze the market potential, drivers, latest market trends, opportunities and challenges, self-driving cars market threats and risks
Identify major competitors, market dynamics and respond accordingly
Devise market-entry strategies by understanding the factors driving the growth of the market
Get stakeholder and technology analysis, profiles of the relevant companies and start-up profiles
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

By Geography

Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand, and the Rest of Asia Pacific)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and the Rest of Europe)
Latin America (Brazil, Mexico, Argentina, and Rest of Latin America)
Middle East & Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)
North America (U.S. & Canada)
North America garnered a substantial market share in the Europe Self-driving Car Market, due to growing demand for Europe Self-driving Car Market products, and rising disposable income, followed by Latin America, Europe, and the Middle East & Africa respectively.

Presently, the Asia Pacific region conquers the Europe Self-driving Car Market.

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List of Factors Covered in the Report are:

Major Strategic Developments: The report abides by quality and quantity. It covers the major strategic market developments, including R&D, M&A, agreements, new products launch, collaborations, partnerships, joint ventures, and geographical expansion, accompanied by a list of the prominent industry players thriving in the market on a national and international level.

Key Market Features:
Major subjects like revenue, capacity, price, rate, production rate, gross production, capacity utilization, consumption, cost, CAGR, import/export, supply/demand, market share, and gross margin are all assessed in the research and mentioned in the study. It also documents a thorough analysis of the most important market factors and their most recent developments, combined with the pertinent market segments and sub-segments.

COVID-19 - Next Thoughts: In this piece, we have shared key data and numbers that shine a spotlight on the current scale of the crisis and the economic fallout. A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.

The impact of COVID-19 on the future development of the industry is pointed out.
Study Explore :
• Market Behavior/ Level of Risk and Opportunity
• End Industry Behavior/ Opportunity Assessment
• Expected Industry Recovery Timeline

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