Increasing vehicle safety concerns, comfort, life style improvement and convenience along with growing infrastructure, the global autonomous cars market continue to achieve new hights
Published | 27 July 2019
Significant continuous investment in transportation technology by OEMs,
suppliers, and technology corporations contributes to earlier distribution
timelines, while mobility service brands within numerous automakers contribute
to higher volumes of autonomous cars in the forecast. The growing smart cities
and connected infrastructure initiatives by the government of various countries
have led to an increase in internet connectivity, road infrastructures, and
highways, which are anticipated to fuel the global autonomous cars market.
Moreover, increasing government support for the concept of autonomous cars is
further projected to positively impact the market in the coming years.
According to BlueWeave Consulting, The Global Autonomous Cars Market is projected to exhibit
significant growth during 2019-2025. Modernization and globalization are leading
to the adoption of the latest technology across sectors and enhancing the
growth of the global autonomous cars market. Autonomous cars technology
provides a major enhancement in safety, help reduce congestion, increase
vehicle fuel efficiency and provide better mobility options. Autonomous cars
are also referred to as driverless cars, self-driving cars, robot car or
autonomous vehicles (AVs) and can navigate a predetermined destination without
the help of human guidance.
Among type, Internal Combustion Engine
segment holds the largest market share of the autonomous cars market during the
forecast period
Internal combustion engine cars account for the lion’s share of the
autonomous car's market during the forecast period 2019-2025. This growth is
attributed to the high demand for ICE-based cars in developing nations like
India and Brazil. Though, the growing concerns toward environmental safety and
the increasing number of government regulations to decrease carbon emissions
have restricted the growth of the ICE cars market. Supportive government
policies like tax benefits and subsidies are nurturing the growth of the hybrid
electric vehicle (HEV) market, which is estimated to grow at a significant rate
during the forecast timeline.
Europe accounts for the lion’s share of
the global autonomous cars market during the forecast period
Geographically, the autonomous cars market is analyzed across North
America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Europe is the leading region of the overall autonomous cars market followed by
North America. In European countries, manufacturers have been adopting
automated solutions to reduce the overall operational cost. The Netherlands is
the largest revenue generators in the autonomous cars market in the European
region. The U.S. leads the world in innovation however falls behind on the
infrastructure requirements to adopt driverless cars on a mass scale. The Asia
Pacific is the fastest-growing region in the autonomous cars market.
Global Autonomous Cars Market:
Competitive Landscape
Companies
such as Aptiv PLC, Autoliv Inc, Baidu Inc., BMW AG, Bosch GMBH, Continental AG,
Daimler AG, Fait Chrysler Automobiles, Ford Motor Company, General Motors
Company, Honda Motor Company Ltd., Hyundai Motor company, Intel Corporation,
Jaguar Land Rover Limited, Nvidia Corporation, Uber Technologies Inc.,
Volkwagon Group, Toyota Motor Corporation, Google LLC, and Tesla Inc. are the
leading players of autonomous cars market across the globe.
The in-depth analysis of the report provides the growth potential,
upcoming trends and statistics of global autonomous cars market size &
forecast. The report promises to provide state-of-the-art of autonomous cars
technology and industry insights which help decision makers to take sound
strategic decisions. Furthermore, the report also analyzes the market drivers
and challenges and competitive analysis of the market.
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