Press release
Autonomous Cars Market Forecast 2033: Size, Major Players, and Trends || Toyota Motor Corporation Volkswagen AG The Mercedes-Benz Group AG Ford Motor Company General Motors Company
Autonomous Cars Global Market Report 2024
The Business Research Company presents an extensive market research report on the Autonomous Cars Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The autonomous cars market size has grown rapidly in recent years. It will grow from $1047.13 billion in 2023 to $1176.95 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to emerging markets growth, high adoption of connected cars, the growing demand for driverless vehicles, increased occurrences of vehicle theft and increased focus on road safety.
The autonomous cars market size is expected to see rapid growth in the next few years. It will grow to $1851.15 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to increasing r&d investments for self-driving vehicles, supportive government initiatives, the growing demand for electric vehicles, the increasing concerns about vehicle safety and the rising urbanization . Major trends in the forecast period include investing in ai (artificial intelligence), collaborating with telecom service providers to set up 5g network infrastructure for smooth functioning of autonomous cars, investing in cyber security software to protect autonomous cars from hackers, building relationships with taxi services to increase revenue through a differentiated service, integrating improved vision solutions in cars for better-quality direction and object recognition, utilizing ar (augmented reality) and vr (virtual reality) technologies and focusing on pre-collision assist and pedestrian detection technology.
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Key Market Players:
Major companies operating in the autonomous cars market report are Toyota Motor Corporation, Volkswagen AG, The Mercedes-Benz Group AG, Ford Motor Company, General Motors Company, BMW AG, Honda Motor Co. Ltd., Nissan Motor Co. Ltd., Volvo Car Group, Tesla Inc., Hyundai Motor Company, Audi AG, PSA Group, Renault, Jaguar Land Rover, NIO, Daimler AG, Vauxhall, Kia, Haval, Chevrolet, Fiat
Market Drivers:
The rise in the development of smart cities is a key factor driving the growth of the autonomous cars market. Electric autonomous cars help reduce air pollution in smart cities and also help to fight climate change. By using driverless cars, traffic accidents can be decreased by 90%, significantly improving the safety of our roads. Several countries, such as Mexico, Canada, and the United States, are deploying digital infrastructure to promote communication between vehicles and networks to collect essential information, thereby reducing traffic congestion and improving road safety. Therefore, the rise in the development of smart cities is expected to drive the growth of the autonomous cars market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/autonomous-cars-global-market-report
The autonomous cars market covered in this report is segmented -
1) By Automation Level: Level 1, Level 2, Level 3, Level 4, Level 5
2) By Product Type: Semi-Autonomous Vehicles, Fully-Autonomous Vehicles
3) By Application: Civil, Robo Taxi, Offline Taxis, Ride Hail And Ride Sharing, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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