Global Self-driving Car Market was valued US$ XX Bn in 2019 and is expected to reach XX Bn by 2026, at a CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Global Self-driving Car Market
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Currently, self-driving cars may still be rare to see on the roads. Furthermore, the development of the global self-driving car market is increasing exponentially. The global self-driving car market is expected to grow at a XX% rate of CAGR during the forecast period by some of the more technological progress in terms of reduced accidents, better traffic management, and enhanced passenger comfort across the global automotive industry.
With the overview of many advanced self-driving car technologies, the global self-driving car market is expected to grow with exceptional speed. Continuous development in semi-autonomous technologies like adaptive cruise control, forward collision avoidance, and automatic parking are expected to increase the adoption of self-driving cars during the forecast period. Additionally, developments in artificial intelligence, blockchain, and cloud computing technologies have indorsed much smaller, technically specialized startups to collaborate with major automotive key players to develop more unconventional self-driving cars.
On the other hand, regulations concerning AI are expected to grow in number and complexity, which making it difficult for key players to navigate how they used the technology. Additionally, strict government regulations pertaining to data security is expected to limit market growth during the forecast period.
Global Self-driving Car Market
The continuing development of HD maps for self-driving cars is one of the technical foundations which will have a huge positive impact on the global self-driving car market growth. A universal or harmonized mapping platform is a vital requirement for self-driving cars to entirely function. Some of the many leading automotive manufacturers are investing heavily in emerging HD mapping systems. For Instance, BMW, Audi, and Daimler Group have introduced HD maps based on the data from LiDAR sensors and innovative algorithms to empower all safety-critical functions in self-driving.
Region-Wise, Europe is estimated to hold a dominant position in the global self-driving car market. Europe is expected to emerge highly lucrative during the forecast period because of the presence of major automobile manufacturers like Volvo, Volkswagen, and Fiat Chrysler Automobiles. Government initiatives for the development of telecom and road infrastructure to aid self-driving cars in communicating with their atmospheres efficiently are expected to boost the growth in the self-driving car market.
Some of the prominent key players are adopting various strategies to expand their global presence in the global self-driving car market shares. Some of the key strategies implemented by the key players include expansions & investments, new product launch, acquisitions, new product developments, and agreements. For instance, Volkswagen, who is a leading automobile company has collaborated with Microsoft to develop an innovative automotive cloud for better connectivity among vehicles on road.
The objective of the report is to present comprehensive analysis of global self-driving car market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding global self-driving car market dynamics, structure by analysing the market segments, and project the global UAV drones market size . Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the global self-driving car market make the report investor’s guide.
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Global Self-driving Car Market, By Type
• Level 1
• Level 2
• Level 3
• Level 4
• Level 5
Global Self-driving Car Market, By Component
• Fully autonomous cars
Global Self-driving Car Market, By Automation
• Radar sensor
• Ultrasound sensor
• Video cameras
• LiDAR senor
• Central computing system
• Global positioning system (GPS) navigation system
Global Self-driving Car Market, By Application
• Personal use
• Commercial use
Global Self-driving Car Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Self-driving Car Market
• General Motors
• Ford Motor Company
• Nissan Motor Company
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