The global autonomous vehicles market has been evaluated as growing market and expected that the market will touch high growth figures. Since the technology has arrived in the automotive industry, many players are concentrating on developing a car which can be self-driven without any human command. Heavy investment in R&D and strategic collaboration is driving the market of autonomous vehicle with CAGR of 26.2%
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.).
• Car Manufacturers
• Technology Providers
• Car Component Manufactures
• Sensor Manufactures
• Software Developers
• OEMs in automotive Industry
“Analysis also includes consumption. Import and export data for Regions North America, Europe, China, Japan, Southeast Asia, India.”
• 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
Autonomous Vehicles Market
There are various changes which are taking place in the automotive industry and companies are trying hard in order to gain high market share as well as increase in profit by deployment of advance technologies in the automotive sector. Autonomous vehicle is one of the concept which has emerged decades ago but now coming into picture. These vehicles are equipped with high class technology and sense the environment for safe and secure ride. Driverless cars are capable of taking you from one place to another without any input of yours. They can find the best route, give the ride information, can pick up you at time and can park itself. As the technology is growing and companies are making several attempts to make this reality, it is expected that these cars will hit the road by the end year 2020.
Market Research Analysis
Autonomous vehicles or driverless cars could be a revolutionary product for the automotive industry. Need of change is what makes the industry sustain and run and with the advancement of technology, people do expect some revolutionary product. Autonomous vehicles could change the whole automotive industry and can make the life of a person easier. Aging population, increase accident rate around the world and increasing consumption of passenger and commercial vehicles are some key drivers for the market of autonomous vehicles. Market Research Future has estimated that the market size of autonomous vehicle market will reach to US $65.3 billion by the end of forecasted period from US $3.6 billion in 2015 with CAGR of 26.2%.