According to BlueWeave Consulting, The Global Autonomous Cars Market is projected to exhibit significant growth during 2019-2025. Modernization and globalization are leading to the adoption of the latest technology across sectors and enhancing the growth of the global autonomous cars market. Autonomous cars technology provides a major enhancement in safety, help reduce congestion, increase vehicle fuel efficiency and provide better mobility options. Autonomous cars are also referred to as driverless cars, self-driving cars, robot car or autonomous vehicles (AVs) and can navigate a predetermined destination without the help of human guidance.
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Internal combustion engine cars account for the lion’s share of the autonomous car’s market during the forecast period 2019-2025. This growth is attributed to the high demand for ICE-based cars in developing nations like India and Brazil. Though, the growing concerns toward environmental safety and the increasing number of government regulations to decrease carbon emissions have restricted the growth of the ICE cars market. Supportive government policies like tax benefits and subsidies are nurturing the growth of the hybrid electric vehicle (HEV) market, which is estimated to grow at a significant rate during the forecast timeline.
Geographically, the autonomous cars market is analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe is the leading region of the overall autonomous cars market followed by North America. In European countries, manufacturers have been adopting automated solutions to reduce the overall operational cost. The Netherlands is the largest revenue generators in the autonomous cars market in the European region. The U.S. leads the world in innovation however falls behind on the infrastructure requirements to adopt driverless cars on a mass scale. The Asia Pacific is the fastest-growing region in the autonomous cars market.
Companies such as Aptiv PLC, Autoliv Inc, Baidu Inc., BMW AG, Bosch GMBH, Continental AG, Daimler AG, Fait Chrysler Automobiles, Ford Motor Company, General Motors Company, Honda Motor Company Ltd., Hyundai Motor company, Intel Corporation, Jaguar Land Rover Limited, Nvidia Corporation, Uber Technologies Inc., Volkwagon Group, Toyota Motor Corporation, Google LLC, and Tesla Inc. are the leading players of autonomous cars market across the globe.