Global Autonomous Vehicles Market – On Auto Pilot Mode – Swift To Cover US $65.3 Billion by 2027
Global Autonomous Vehicles Information, by Sensor (Ultrasonic, Radar, Lidar, Image Sensor), by Hardware & Software (Cameras, Communication Systems, GPS systems), by Type (Semi-Autonomous and Fully Autonomous) – Forecast 2016-2027
Pune, India – June 30, 2017 /MarketersMedia/ —
An autonomous car AKA robotic Car (driverless car, auto/ self-driving car) is a vehicle that is capable of sensing its environment and navigating without human input. Many such vehicles are being developed, but as the recent study (of February 2017) proves that automated cars permitted on public roads are not yet fully autonomous. They all require a human driver at the wheel who is ready at a moment’s notice to take control of the vehicle.
Market Research Future offers an exorbitant Market Research Report on “Global Autonomous Vehicles Market” empowering you to browse through the full Market Analysis, Opportunities, Price, Growth, Trends and the market forecast up to the year 2027.
The report Global Autonomous Vehicles Market comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. It gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. It also gives a broad study of the different markets segments and regions.
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The Report is mainly segmented on the basis of sensors which comprises of ultrasonic, radar, lidar, image and other. Secondly, the report is segmented on the basis of hardware and software which comprises of cameras, communication systems, and GPS systems. Furthermore, the report is segmented by type which is comprises of semi-autonomous vehicles and fully autonomous vehicles. The fully functioned segment wise study gives you the forecast up to 2027.
Key Utility Aspects of the Report – Global Autonomous Vehicles Market:
• Provides detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Global Autonomous Vehicles Market
• Offers insights about factors affecting the market growth
• Enables to analyze the Autonomous Vehicles market based on various factors- supply chain analysis, porter’s five force analysis etc.
• Provides historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
• Offers country level analysis of the market with respect to the current market size and future prospective
• Provides country level analysis of the market for segment by sensor, by hardware & software, by type and sub-segments.
• Offers strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• Enables us to track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Autonomous Vehicles Market
The Intended Audience – Global Autonomous Vehicles Market:
Report is advantageous mainly to the following Entities
• Car Manufacturers
• Technology Providers
• Car Component Manufactures
• Sensor Manufactures
• Software Developers
• OEMs in automotive Industry
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Market Synopsis & Scenario – Global Autonomous Vehicles Market
Currently, many major players are contributing in the development of semi-autonomous and fully autonomous vehicles. Since, 1980s companies are working on various prototypes to make the autonomous vehicle a reality. This market is expected to reach to 65.3 USD billion by the end of forecast period (2016-2027). Currently all the prototypes are being tested in the R&D centers of various automobile companies, universities and expected to launch the autonomous vehicles by 2020.
More than 90% of road accidents across the world are caused mainly due to human errors indicates the study by the International Organization for Road Accident Prevention leading to drive the growth of this market further. Also, increasing awareness among consumers regarding the benefits autonomous cars offer to its users, such as the enhanced mobility is fueling the demand for autonomous cars in the future. National Highway Traffic Safety Association (NHTSA) estimated that the adoption of autonomous vehicles will save more than 69 lives every year in the US itself. The need for pervasive connectivity calls for the rapid deployment of the product over the next seven years. However, the regulatory concerns may hinder the growth of this market.
Key Players for Autonomous Vehicles Market:
Some of the key players in this market are: Google (U.S.), General Motors (U.S.), Volkswagen (Germany), BMW (Germany), Ford Motor Company (U.S.), Baidu (China), Toyota (Japan), Tesla (U.S.), Audi (Germany), Jaguar (U.K.) among others.
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Regional Analysis of Autonomous Vehicles Market:
Globally, North America is the largest market for Autonomous Vehicles and is estimated to witness a healthy demand for driverless cars in 2017, accounting for over a good market share in the same year. North America holds the largest market share 39.08% of global Autonomous Vehicles market and is expected to reach $24.40 billion by 2027 from $1.42 billion in 2015.
Consumers in Europe are often more adaptive toward new technologies and the change in regulation, particularly in Germany, Sweden, and the Netherlands, is expected to fuel the demand over the forecast period. Europe is the second largest market for autonomous vehicle with market size of US $1.10 billion in the year 2015.
However Asia-Pacific will become the second biggest market by the end of year 2027 due to the high technological advancement. Asia-pacific region is expected to be the fastest growing region globally, registering 29.2% CAGR during the forecast period.
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