Growth in Sales of Autonomous Vehicles Market to be Largely Driven by Rising Consumer Adoption

According to Stratistics MRC, the Global Autonomous Vehicles Market is accounted for $27.09 billion in 2017 and is expected to reach $615.02 billion by 2026 growing at a CAGR of 41.5% during the forecast period. Growing geriatric population, increased government focus on streamlined traffic infrastructure and increasing number of high-end passenger cars are some of the key factors influence the market growth. In addition, transition from car ownership to mobility-as-a-service (MaaS) will provide ample opportunities for market growth. However, the data security concerns and undefined legal responsibilities in developing countries are limiting market growth.

Autonomous vehicles also well-known as “robot cars” are driverless vehicles, controlled by the computer, which is yet to be commercialized in the market. Many autonomous vehicles in development use a combination of cameras, sensors, GPS, RADAR, LIDAR, and an on-board computer. These technologies work together to map the vehicle’s position and its proximity to everything around it. The autonomous vehicles will also help in reducing the CO2 emissions to the environment. The commercialization of autonomous vehicles will also contribute to the revenue growth of different industries such as, IT, technology and electronics.

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By Vehicle Type, Passenger Vehicles segment held considerable market share due to owing to the growing importance towards road safety, better fuel efficiency and engine performance. Passenger vehicles are the most common mode of conveyance in the developed countries and they are increasing in numbers in the developing countries. By geography, North America is projected to witness the fastest growth during the forecast period. The growth in this region is attributed to the growing demand for advanced safety features.

Some of the key players profiled in the Autonomous Vehicles Market Delphi, Ford Motor, Tesla, Alphabet, Intel, Daimler Group, Google , Volkswag, BaiduJaguar, General Motors, BMW, Toyota and Audi.

Components Covered:
• Services
• Hardware
• Software

Automation levels Covered:
• Fully Autonomous Vehicles
• High Autonomous Vehicles
• Conditional Automation
• Partial Automation
• Driver Assistance

Vehicle Types Covered:
• Commercial Vehicles
• Passenger Vehicles

Applications Covered:
• Robo taxi
• Ride Share
• Self-driving bus
• Civil
• Ride hail
• Self-driving truck

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

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