Global Autonomous Car Market: Overview
A driverless car or self-driving car or be it robotic cars has the potential of sensing its nearby places while driving on streets and navigating devoid of any human support/input. Autonomous cars are already installed with control systems which help them to check the sensory data while comparing between various other vehicles and cars on the streets.
Global Autonomous Car Market: Growth Factors
Driverless cars are basically the automated cars which have all the main competencies of conventional cars. The rise in road accidents are considered to be the most important driving aspect for the technology contributors to develop a secure, safe, and proficient transportation system. Furthermore, it is anticipated that the autonomous car will decrease fuel usage almost by 10% as well as insurance expenditure will likely go down by 30%, thereby fuelling the market remarkably. Most of the manufacturers have shown an eager interest in manufacturing, developing, and commercializing autonomous cars in the years to come. All these factors anticipate triggering the growth of the autonomous car market in the coming years. The progress expenditure for the autonomous car technology is considered very high; however, as technology grows the cost is expected to reduce. On the other hand, due to poor infrastructural growth to help V2V connections, strict government rules, and growing threats from terrorism may limit the growth of the autonomous car market. The increasing demand from the developed and developing regions for automated and smart vehicle/cars systems will boost the growth of the autonomous car market.
Global Autonomous Car Market: Segmentation
The global autonomous car market is classified in terms of application, level of automation, and region. In terms of automation level, the autonomous car market can be categorized into partial automation, driver assistance, full automation & high automation, and conditional automation. On the basis of applications, the global autonomous car market can be divided into public transportation, passenger cars, construction, agricultural, and industrial fleet applications.
Global Autonomous Car Market: Regional Analysis
In terms of geographic regions, the global autonomous car market is classified into important market divisions such as Latin America, North America, Eastern Europe, the Middle East & Africa, Western Europe, and the Asia Pacific. Western Europe is projected to hold the highest share of global autonomous vehicles market, owing to the greater acceptance and implementation of autonomous vehicles/cars in the region. The global autonomous car market in North America is projected to be trailing behind as compared to the Western European market. In the coming future, the autonomous car market in China in the Asia Pacific region is likely to go beyond in terms of revenue as compared to the American as well as the European market for autonomous cars. The implementation of autonomous cars in the up-coming economies such as the Middle East & Africa and Latin America is expected to be low when compared with other regions. On the whole, the global autonomous car market is anticipated to grow at a healthy rate over the coming years considering its remarkable benefits as compared to conventional cars/vehicles and their consequence on the environment.
Global Autonomous Car Market: Competitive Players
Some of the most important market players in the global autonomous car market are Audi AG BMW AG, Google, Tesla Motors, and Mercedes-Benz, among others.
Global Autonomous Car Market: Regional Segment Analysis
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