Autonomous Vehicles Market is expected to grow at a CAGR of 29.2% and worth $65.3 Billion by 2027

Market Synopsis of Autonomous Vehicles Market:

Market Scenario:

Autonomous vehicle or driverless car or self-driving car is a new concept of car, which is capable to reading and sensing the environment and operates without human input. Currently, many major players are contributing in the development of semi-autonomous and fully autonomous vehicles. Since, 1980s companies are working on various prototypes to make the autonomous vehicle a reality. This market is expected to be US $65.3 billion by the end of forecast period (2016-2027). Currently all the prototypes are being tested in the R&D centers of various automobile companies, universities and expected to launch the autonomous vehicles by 2020.

Market Segments:

Global autonomous vehicles market has been segmented;

• On the basis of Sensors; which comprises of ultrasonic, radar, lida, image Sensor

• On the basis of Hardware and Software; the market is segmented into cameras, communication systems, and GPS systems

• On the basis of Type; comprises of semi-autonomous vehicles and fully autonomous vehicles

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Study Objectives of Autonomous Vehicles Market:

• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Global Autonomous Vehicles Market

• To provide insights about factors affecting the market growth

• To analyze the Autonomous Vehicles market based on various factors- supply chain analysis, porter’s five force analysis etc.

• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)

• To provide country level analysis of the market with respect to the current market size and future prospective

• To provide country level analysis of the market for segment by sensor, by hardware & software, by type and sub-segments.

• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market

• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Autonomous Vehicles Market

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Key Players for Autonomous Vehicles Market:

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.)

Key Finding

• The global Autonomous Vehicles market and is expected to reach $65.3 billion by 2027.

• Radar Sensors are expected to be the fastest growing market with high CAGR of 29.2% between 2016 and 2027.

• Regionally, North America holds the largest market share 39.08% of global Autonomous Vehicles market and is expected to reach $24.40 billion by 2027 from $1.42 billion in 2015.

• Asia Pacific market is expected to be the fastest growing market, and expected to grow at a CAGR of 29.02% from 2016 to 2027

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Intended Audience

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

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.

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This release was published on openPR.