Global Autonomous Car Market: Latest trends, Drivers and Challenges
According to a new report published by Reports Monitor titled, “Global Autonomous Car Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the Autonomous Car Market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
An autonomous car also termed as driverless vehicle is a robotic vehicle designed for the means of transportation without any human intervention. It is an integration of various technologies such as a roof mounted LIDAR (Light detection and Ranging) sensors for monitoring 60 meter range around the car, radar system to calculate the distance between the obstacles.
Rise in the number of road traffic and injuries; have raised the demand for safe, productive and efficient driving option. This factor majorly results in driving the market growth. .Favorable initiatives adopted by government to reduce growing traffic and accidents also propel the growth factor. However, lack of required infrastructure specifically in developing economies and regulatory concerns involved in the adoption of autonomous vehicles may result in hindering the market growth.
The Autonomous Car market report has been categorized in three sections, the first section entitled as market overview offers a holistic view of the market, coupled with its key trends, drivers, restraints and opportunities. Our analyst implements, several qualitative tools such as SWOT analysis, Porter’s five force analysis among other to interpret and represent key industry findings. The second section provides estimated market size and forecast for key market segments and regional market. The final part includes the study of competitors operating in the market, which includes their mergers/acquisitions, new product development and their financial overview.
Autonomous car market is majorly bifurcated on the basis of component and fuel type. Based on the components adopted, market is bifurcated into: camera, LIDAR, Radar and ultrasonic sensor, while on the basis of fuel type market is segmented into: internal combustion engine, hybrid electric vehicles and battery electric vehicles.
Global Autonomous Car market is analyzed across: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Presence of well-established infrastructure coupled with major players operating in the market is the important factor influencing the growth in North America. Expansion in the automotive sector and rising demand for efficient driving system has resulted in propelling the growth of Asia Pacific region.
The major key players operating in the market are: Audi AG, Ford Motor Co., Bayerische Motoren Werke AG, General Motors Co., Nissan Motor Co. Ltd., Tesla Motors, The Volvo Group, Toyota Motor Corporation, Uber Technologies Inc. and Waymo LLC.
We at Garner Insights.com provide a comprehensive analysis by providing in-depth reports of the various market verticals. Our Mission is to provide a detailed analysis of the vast markets worldwide backed by rich data. Decision makers can now rely on our well-defined data gathering methods to get the correct and accurate market forecasting along with detailed analysis.