The global autonomous vehicle market demand is expected to reach 4.2 million units by 2030, expanding at a CAGR of 63.1% over the forecast period, according to a new report by Grand View Research, Inc. An autonomous vehicle is a combination of various networking systems and sensors that assist the computer in driving the vehicle. Several technology providers such as Google LLC and Tesla Motors have also entered the market and are contributing to the research and development of autonomous vehicles.
The automobile industry is dynamic as it is undergoing changes with advancements in technologies. Several major players in the industry, such as General Motors Company, Volkswagen AG, Mercedes-Benz, and BMW AG, are making significant investments in the research and development of technologies. Growing trend of autonomous vehicles in the automotive industry is attracting larger investments in the development of these automobiles. Moreover, the U.K. government has granted permission to test self-driving cars on public roads. Furthermore, the Federal Department of Environment, Transport, Energy and Communications (DETEC) in Switzerland has permitted driverless testing on the streets of Zurich.
The market has been segmented on the basis of application into transportation and defense. The transportation segment is expected to account for a significant share in the self-driving car market over the forecast period. The defense segment is expected to witness the highest growth over the forecast period. North America accounted for the largest share of the overall revenue in 2020. Demand for self-driving vehicles is expected to increase over the forecast period in line with rising government regulations and increased acceptance of self-driving vehicles in U.S.
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Further key findings from the study suggest:
- Demand for autonomous cars is expected to witness a rise in the coming years owing to increasing government regulations in various developed and developing nations
- Based on application, the transportation segment is expected to expand at the highest CAGR of 86.4% over the forecast period
- Countries including U.S., China, and Japan are expected to witness significant growth over the forecast period owing to the large-scale testing and adoption of autonomous cars or trucks in the transportation sector
- Audi AG; BMW AG; Daimler AG; Ford Motor Company; General Motors Company; Google LLC; Honda Motor Co., Ltd.; Nissan Motor Company; Tesla; Toyota Motor Corporation; Uber Technologies, Inc.; Volvo Car Corporation; Volkswagen AG are some of the key players in the self-driving vehicles market.
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Key Topic Covered
Table of Contents
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Autonomous Vehicles – Industry Snapshot & Key Buying Criteria, 2020 – 2030
Chapter 3 Industry Outlook
3.1 Market Segmentation & Scope
3.2 Autonomous Vehicles Value Chain & Ecosystem Analysis
3.3 Autonomous Vehicles Market Dynamics
3.4 Autonomous Vehicles Market Driver Analysis
3.4.1 Rising need for road safety
3.4.2 Growing R & D spending in autonomous vehicle development
3.4.3 Environmental impact due to traditional vehicles
3.4.4 Increased energy savings by autonomous vehicles
3.5 Autonomous Vehicles Market restraint analysis
3.5.1 Car safety and cybersecurity concerns
3.5.2 Non-availability of infrastructure in developing countries
3.6 Autonomous Vehicles Market Opportunity Analysis
3.6.1 Increased technological advancements by OEMs for the development of autonomous vehicles
3.6.2 New business model for insurance companies
3.7 Autonomous Vehicles Market Challenges Analysis
3.7.1 System reliability and uncertainty in user acceptance
3.8 Penetration & Growth Prospect Mapping, 2030
3.9 Autonomous Vehicles Market Analysis – PEST
3.10 Autonomous Vehicles Industry Analysis – Porter’s
3.11 Autonomous car government regulations
3.11.6 The Netherlands
3.12 Autonomous Vehicle Evolution
3.13 Autonomous Cars – Impact Analysis
3.14 Autonomous Car Technology Landscape
3.14.1 Navigation and mapping technology (Situational Analysis)
3.14.2 Motion Planning
3.14.3 Trajectory Control
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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