The global self-driving car market size is expected to reach around US$ 40 Bn through 203 and to expand at staggering 89% CAGR between 2019 to 2030.
A self-driving car refers to a vehicle that makes use of a combination of artificial intelligence (AI), radars, cameras, and sensors to travel between various destinations sans any human effort. Such cars are also known as autonomous cars or driverless cars. It is essential for a vehicle to be able to navigate without any human involvement to be considered as a fully autonomous vehicle. It needs to steer through roads to reach an already determined destination.
The industry of self-driving car is expanding rapidly. Investment in this type of cars is growing, thanks to the growing interest of car companies and individuals.
Continental AG, Ford Motor Company, Robert Bosch GmbH, Honda Motor Co., Ltd, Volkswagen AG., and Toyota Motor Corporation are some of the companies profiled in the global self-driving car market.
Increased Adoption of Advanced Technologies for Vehicle Safety Spells Growth
The global self-driving car market is estimated to be driven by the technological advancement made in the automotive industry together with the rising adoption of advanced driver-assistance systems (ADAS) sensors to better safety of vehicles. Safety of vehicles plays an extremely important role in the vehicle automation industry. Growing adoption of technologies ensuring safety of vehicles is likely to play an important role in the growth of global self-driving car market.
In addition, growth of the global self-driving car market is also influenced by the expansion of the automotive industry. Rapid adoption of newer technologies has helped in the saving of countless lives on road, which are lost due to lost owing to traffic accidents every year. These accidents mainly take place due to human error.
Presence of Leading Market Players Drives Growth in the U.S. Market
Considering geographical segmentations of the global self-driving car market, the US is regarded as one of the major hubs of companies operating in the autonomous vehicles market. The major manufacturers of such cars are diverting all their attention of the establishment of ride-hailing services and automatic vehicle fleet.
The country is home to the numerous numbers of companies in this type of car industry with nearly 163 headquarters. Germany is next to the US, when it comes to the presence of autonomous vehicle companies. Many leading automotive manufacturers together with ride sharing companies like Uber and Lyft are stressing on research and development activities to the development of new-age autonomous vehicles. However, the US has comparatively fewer stations for charging such vehicles
Recently, the UK has initiated changing their standards and regulations pertaining to the plying of autonomous cars on road. The country has also made an offer of financial support for the introduction of automatic cars by 2021. The transport department is aiming to legalize the operation of such cars on public roads.
The Self-driving Car market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Self-driving Car market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Self-driving Car market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Self-driving Car market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Self-driving Car market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Self-driving Car capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Self-driving Car by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Self-driving Car market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Self-driving Car market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Self-driving Car market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Self-driving Car industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Self-driving Car market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Self-driving Car market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Self-driving Car market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Self-driving Car market. These factors have benefited the growth of the global market for Self-driving Car. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Self-driving Car. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Key players operating in the global self-driving car market include
By Level of Autonomy
In this study, the years considered to estimate the market size of Self-driving Car are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
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