What is Autonomous Cars Market?
An autonomous car is refer as a vehicle which can guide automatically by itself without any human conduction. This type of vehicle has become a concrete reality and may cover the way for future systems where computers has take over the art of driving. An autonomous car has various name like it is also known as driverless car, self-driving car or robot car
The market study is being classified by Type (Fully-Autonomous Cars and Semi-Autonomous Cars), by Application (Passenger Cars, Public Transportation, Commercial Applications and Air Taxis) and major geographies with country level break-up. According to AMA, the Global Autonomous Cars market is expected to see growth rate of 36.2% and may see market size of USD173.15 Billion by 2025.
Microsoft (United States), Apple (United States), Cisco (United States), IBM (United States), Uber (United States), Mercedes-Benz (Germany), Google (United States), Toyota (Japan), Nissan (Japan) and Volvo (Sweden) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are General Motors (United States), Volkswagen (Germany), Tesla (United States) and BMW (Germany).
Research Analyst at AMA predicts that United States and German Vendors will contribute to the maximum growth of Global Autonomous Cars market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Autonomous Cars market by Type, Application and Region.
On the basis of geography, the market of Autonomous Cars has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising incidences of road accidents, and increase in the demand for automation
- Growth of the mobility as a service (MaaS) sector is predicted to provide an impetus to the market
- Increasing development and introduction of HD maps
- OTA updates for automotive related software
- Rising IoT integration which is powered by AI technology in automotive industry
- Growing R&D funding of autonomous cars
- Rising security threats associated to the wide-ranging networks which will connect with autonomous cars
- Rising acceptance of autonomous vehicles by several governments is expected to boost the rising industrial applications
- Growing development of autonomous fleet services of cab and parcel delivery
- Privacy and security theft related issue and lack of proper infrastructure which is needed to support autonomous cars, poses several challenges for manufacturers
Market Leaders and some development strategies
GM started testing autonomous technology on Cadillac cars in Israel
Key Target AudienceAutomobiles manufacturers, automobiles suppliers, Automobiles dealers, Automobiles wholesalers, Research firm, Regulatory bodies and End user
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