Autonomous Vehicles Market Size Expected To Reach at a 125.67 Billion 2030 And 22.3% CAGR By 2020-2030

Latest Market Research Report By MRFR On Autonomous Vehicles Market Analysis With Business Value, Trend, Industry Growth Technology innovation in aviation with and Information, By Type, Sensors, By Hardware and Software, and By Region Forecast till 2030

Autonomous Vehicles Market Overview
The market size of the autonomous vehicles market is expected to hit 125.67 billion Dollars by the end of the year 2030. During the forecast period of 2020 to 2030, the autonomous vehicles market is expected to grow with a CAGR or Compound Annual Growth Rate of 22.3% according to expert analysts.

Competitive Landscape

Self-driving cars based organizations are profiled in the market research report. The autonomous vehicles market along with companies and segments have been studied. The analysis of self-driving cars-based business is also done to identify key challenges and strengths of these companies. The global autonomous vehicles market research report covers SWOT analysis, Porter's Five Force analysis of major self-driving cars related organizations.

The strategy and other key details of these companies for the forecast period 2016 to 2027 are covered in the report. The increase in vehicle sales across the world is anticipated to support the market growth as the market is set to grow at a high CAGR and reach a value of US$65.3 billion by 2027.

The prominent players in autonomous vehicle ECU market are Hitachi, Ltd. (Japan), Continental AG (Germany), Intel Corporation (U.S.), Renesas Electronics Corporation (Japan), Nvidia Corporation (U.S.), ZF Friedrichshafen AG (Germany), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), Autoliv Inc. (Sweden) and Bosch (Germany) are among others.

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An autonomous vehicle refers to a vehicle that can operate on its own by sensing the surroundings and analysing the next move. They are becoming increasingly popular day by day. The popularity is obviously owed to the fact that the vehicle does not need a human being to control the vehicle. They are completely automatic and intelligent.
The common name for autonomous cars is self-driving or driver-less car.

The growth can be attributed to the technological advancements namely HD mapping, adaptive algorithms, Internet of Things or IoT and many more. There has been a rising investment in the market due to its futuristic scope. The demand of competitive autonomous vehicles in terms of cost and safety is a contributing factor for market growth all over the world.

Market Segmentation

The market can be segmented on three bases. These are segmentation by software and hardware, sensors and types.

• On the grounds of software and hardware, the divisions are communication system, GPS systems and cameras.

• On the grounds of sensors, the segments include image sensors, lidar, radar and ultrasonic.
• On the grounds of types, the segments are fully autonomous and semi-autonomous vehicles. Out of these two segments, it is the segment of fully autonomous vehicles that is going to lead the market share in the forecast period and has done so in the previous years.

Regional Classification

On the basis of region, the segments are Europe, Africa, Latin America, Middle East and Asia Pacific. North America has led the market share previously and is expected to continue to dominate the Autonomous Vehicles Market in the projected period of 2020 to 2030.

While the dominating region is North America, the Asia Pacific region or APAC will have the fastest rate of growth or CAGR in the projected years. The fast growth in APAC can be owed to the demand of convenient, efficient and safe experiences of driving.

There has been a rise in people with disposable income which contributes to the growth of the market in the region. Safety regulations are also a great factor that is driving the market of autonomous vehicles. Also, there have been many partnerships that are increasing in number in the Asia Pacific region.

There is also the fact that among the biggest industries for ride sharing is the one in Asia Pacific. Growing developments in technology in the countries of China and Japan are a major contributing factor. On the other hand, the rising adoption of new technologies in developing countries also aids the market growth for autonomous vehicles.

Industry News

1.There are many main players in the industry for autonomous vehicles. Some of them are Bosch, Autoliv Inc., NXP Semiconductors N.V., Infineon Technologies AG, ZF Friedrichshafen AG, Nvidia Corporation, Renesas Electronics Corporation, Intel Corporation, Continental AG and Hitachi among many others.

2.General Motors revealed today that it is purchasing Cruise Automation, a San Francisco-based maker of autonomous vehicle applications, only two days after Toyota acquired the autonomous software team at Jaybridge Robotics. For almost two years, GM has been watching the corporation test self-driving vehicles on the streets of San Francisco.

GM will be able to get this technology to customers quicker by integrating its autonomous vehicle testing and engineering capabilities with Cruise's tools, according to Ammann. Cruise will act as a separate division of General Motors' newly created Autonomous Vehicle Research Team.

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