The Autonomous Vehicles Market is estimated to reach a value of USD 125.67 Billion and a compound annual growth rate or CAGR of 22.3 % in the forecast period between 2020 to 2030.
The outbreak of the COVID-19 pandemic has impacted the automotive sector, compelling automakers to reduce the output at their production plants. The arrival of the pandemic has also affected the operations of many OEMs, ranging from production to R&D, and created short-term disruptions that have delayed autonomous cars’ deployment and rollouts.
Due to increasingly stringent government regulations because of the situation focusing on increasing road safety, more autonomous cars are being developed with highly advanced technologies integrated with smartphones, creating opportunities for market players to attract customers. The recent technological advancements in artificial intelligence, and other concepts like machine learning, and other sensors like RADAR, LIDAR, GPS, and computer vision, have enabled manufacturers to increase self-driving capabilities in cars.
Level 2 and Level 3 autonomous cars are emerging as the prominent in the market, while Level 4 and Level 5 (as scaled by SAE) are expected to reach wider acceptance by 2030. As a result, the growth of these Level 2 and Level 3 cars are likely to propel the market during the ongoing forecast period.
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MARKET SEGMENTATION
Autonomous vehicles or driverless cars can maneuver independently or with human assistance by sensing their nearby environment. The autonomous/driverless car market covers segmentation based on sub-segments like type and geography.
The global market is segmented into semi-autonomous and fully-autonomous vehicles by type. The market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World by geography. Market sizing and forecast have been done for each segment based on value (USD billion).
REGIONAL ANALYSIS
The North American region is expected to play a significant role in the market, followed by Asia-Pacific and Europe. Major automaker companies, and the presence of technology giants, and specialist start-ups across North America have started investing in developing autonomous vehicle (AV) technology. As demand for self-driving cars is picking up across countries in the APAC region like China, Japan, India, and South Korea, the Asia-Pacific region is also expected to witness growth over the forecast period. · In April 2021, Honda and Verizon had announced that they are working at MCity to explore Verizon 5G Ultra-Wideband and 5G Mobile Edge Compute (MEC). The global companies are testing how using Verizon 5G Ultra-Wideband and MEC in the Honda SAFE SWARM can reduce the need for AI onboard each vehicle.
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The prominent players in autonomous vehicle ECU market are Hitachi, Ltd. (Japan), Continental AG (Germany), Intel Corporation (U.S.), Renesas Electronics Corporation (Japan), Nvidia Corporation (U.S.), ZF Friedrichshafen AG (Germany), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), Autoliv Inc. (Sweden) and Bosch (Germany) are among others.
Industry News
To offer more clarity on the current business environment researchers probe into the import and export status, supply chain management, demand and supply, consumption capability and manufacturing capacity. When assessing the size of the industry special consideration is given to the value and volume of the products and services offered on a year on year basis.
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1 MARKET INTRODUCTION
1.1 INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS
1.2.3 LIMITATIONS
1.3 MARKET STRUCTURE:
1.3.1 GLOBAL AUTONOMOUS VEHICLE MARKET, BY SENSOR
1.3.2 GLOBAL AUTONOMOUS VEHICLES MARKET: BY HARDWARE & SOFTWARE
1.3.3 GLOBAL AUTONOMOUS VEHICLE MARKET, BY TYPE
1.3.4 GLOBAL AUTONOMOUS VEHICLE MARKET, BY REGION
2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
2.4 FORECAST MODEL
2.4.1 MARKET DATA COLLECTION, ANALYSIS & FORECAST
2.4.2 MARKET SIZE ESTIMATION
2.4.3 MARKET CRACKDOWN & DATA TRIANGULATION
3 GLOBAL AUTONOMOUS VEHICLES MARKET: OVERVIEW
3.1 INTRODUCTION
3.1.1 DEFINITION
3.1.2 MARKET SEGMENTATION OF AUTONOMOUS VEHICLES MARKET
4 GLOBAL AUTONOMOUS VEHICLES MARKET: FORECAST INDICATORS
4.1 INTRODUCTION
4.2 GROWTH DRIVERS
4.2.1 AGING POPULATION
4.2.2 TECHNOLOGICAL ADVANCEMENT
4.2.3 RIDE SHARING
4.2.4 FUEL EFFICIENCY
4.3 GROWTH BARRIERS
4.3.1 COST
4.3.2 LEGAL AND LICENSING CONSIDERATIONS
4.3.3 CYBER RISK
4.4 OPPORTUNITIES
4.4.1 TIME
4.4.2 EASY PARKING AND ACCESS TO VEHICLES
4.4.3 HIGH DROP IN ACCIDENT RATES
4.5 MEGA TRENDS
4.5.1 HIGH INVESTMENT IN R&D
4.5.2 INCREASE GOVERNMENT INTEREST
4.6 MACROECONOMIC INDICATORS
4.6.1 GDP (GROSS DOMESTIC PRODUCT)
4.6.2 EMPLOYMENT
5 GLOBAL AUTONOMOUS VEHICLES MARKET ANALYSIS
Continued…
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