Driverless car is also called as autonomous car, self-driving car, and robotic cars. Autonomous car is defined as autonomous car which feature the major competencies of traditional cars. Autonomous cars are capable of sensing its environment and operating without human involvement. These cars are relying on sensors, actuators, machine learning systems and powerful processors to execute software.
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Increase in technological advancements is considered as key driving factor which is expected to boost the global driverless car market growth. Furthermore, increase in demand for smart and automated vehicle systems will have the positive impact on market growth. Moreover, increase in road accidents is expected to propel the market growth. In addition to that, driverless car will reduce fuel consumption by 10% and insurance cost by 30% which expected to fuel the market growth during this forecast period.
However, lack of infrastructural development is the major restraining factor which is expected to hinder the global driverless car market growth. Also, stringent government rules and regulations increase in terrorism are some factors which expected to obstruct the market growth.
Market Key Players
Various key players are discussed in this report such as Google, Inc, Daimler AG, Ford Motor Company, Toyota Motor Corporation, BMW AG, Audi AG, AB Volvo, AutoNOMOS Labs, and Volkswagen
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