Autonomous Vehicles Market: Analysis by Size, Share, Trends, Growth and Regional Forecast 2027
Market Research Future published a research report on “Autonomous Vehicles Market Research Report- Global Forecast 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Autonomous Vehicles Market - Overview
An autonomous car is also known as a robotic car/driverless car, or self-driving car/ auto driving car is a vehicle capable of sensing its environment and navigating without human input. Many such vehicles are being developed, but as of now, automated cars permitted on the public roads are not yet entirely autonomous. They still need a human driver at the wheel who is ready at a moment's notice to take control of the vehicle.
Currently, many major players are contributing in the development of semi-autonomous and fully autonomous vehicles, working on various prototypes to make the autonomous vehicle a reality. With the growing number of innovations and technological advancements taking places, the market appears to be lively and evolving aggressively.
Acknowledging the growth, the market is garnering currently, Market Research Future (MRFR) in its recently published study report, mentions that demonstrating the growth prospects worldwide, the global Autonomous Vehicles Market will accrue USD 65.3 Bn. by 2027 registering a striking CAGR throughout the forecast period (2016 to 2027).
As per the International Organization for Road Accident Prevention (IORAP), more than 90% of road accidents worldwide, are caused primarily due to human errors which further leads the growth of this market. Besides, the increasing awareness among consumers towards the availability and the benefits of autonomous cars, such as the enhanced mobility and etc. is fueling the demand for autonomous cars in the years to come.
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Key Players
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.
Global Autonomous Vehicles Market - Geographical Analysis
Region-specific research of the autonomous vehicles market includes the Americas, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The Americas is growing big due to the presence of countries such as the U.S. The Americas can be sub-segmented into North America and South America. North America accounts for USD 1.42 billion valuation as of 2015 which can surpass a worth of USD 24.40 billion by 2027. The region has the lion’s share of the market. It controls around 39.08% of the market. The prolific run of the regional market can be attributed to superior technology and infrastructural supremacy which allow for integration of the latest technologies, squarely helping the autonomous vehicles market growth. In addition, Rise of the Mobility as a Service (MaaS) sector is anticipated to provide impetus to the market.
Europe is also enjoying the bliss of similar advantages like that of North America. The region has several market titans who invest heavily in research and development to bring forth the latest technologies. Government initiatives such as the removal of extra insurance norms and permits can be deemed as positive steps to integrate autonomous cars. The regional market is worth of USD 1.10 billion as of 2015. However, its growth is expected to be overshadowed by the success of the APAC region. The APAC is touted to achieve the fastest CAGR of 29.2% during the forecast period due to the unprecedented implementation of technologies in the automotive sector and gradual revamping of the transport sector in the region.
Global Autonomous Vehicles Market - Segmentation
The global autonomous vehicles market can be segmented by sensor type, hardware & software, and type.
- Based on sensor type, the autonomous vehicles market can be segmented into ultrasonic, radar, lidar, image and other. Radar sensors are expected to become the fastest growing segment with a leap by 29.2% CAGR during the forecast period.
- Based on hardware & software, the autonomous vehicles market comprises cameras, communication systems, and GPS systems.
- Based on type, the autonomous vehicles market includes semi-autonomous vehicles and fully autonomous vehicles.
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TABLE OF CONTENTS
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
Continued…
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