Covid-19 Impact on Autonomous Vehicles Market – Overview
With digital frameworks across industries and nations getting robust, autonomous vehicles market is gaining mileage. The market is further basking in the support provided by governments that have eased up regulatory process to increase the investment opportunity and simplify expansion. The global Covid-19 Impact on Autonomous Vehicles Market is fast grabbing eyes and touted to surpass a valuation of USD 65.3 billion during the forecast period (2016-2027), reveals Market Research Future (MRFR) in an extensive study that incorporates segmental analysis and in-depth review of factors that can impact the market in the coming years. These types of cars are made up of sensors such as light detection and ranging (LiDAR) and radio detection and ranging (RADAR) systems that assist the car in performing actions without any manual inputs. It analyses situations, plans motions, and controls trajectory with the help of sensor-based navigation to provide hassle-free service.
However, safety concern is still proving to be an issue for the autonomous vehicles market. But with regular innovations and a lot of research works in the pipeline waiting for approval, the autonomous vehicles market is not going to bog down for long.
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Global Autonomous Vehicles Market – Geographical Analysis
Globally, North America accounts for the leading market for autonomous vehicles and is estimated to retain its dominance throughout the forecast period. The market witnesses a healthy demand for driverless cars, accounting for over a good market share. Holding the largest as in 39.08% of the total market share, the region is expected to reach USD 24.40 Bn. by 2027 from USD1.42 Bn. in 2015.
Europe is the second-largest market for autonomous vehicles that reached the market size of USD 1.10 Bn. in the year 2015. Consumers in Europe are often more adaptive towards new technologies. The changed regulatory frame particularly in Sweden, the Netherlands, and Germany is expected to fuel the demand over the forecast period.
The Asia Pacific is emerging as one of the lucrative markets for autonomous vehicles globally. Owing to the constant technological advancements, the market is to take the second-leading position soon at 29.2% CAGR during the review period.
Global Autonomous Vehicles Market – Segmentation
The MRFR analysis is segmented into four key dynamics for the convenience of understanding;
- By Sensors: Comprises Ultrasonic, Radar, Lidar, and Image among others.
- By Components: Hardware (Cameras among others) and Software (Communication Systems, and GPS Systems among others).
- By Types: Semi-autonomous vehicles and Fully autonomous vehicles among others.
- By Regions: North America, Europe, APAC and the Rest-of-the-World (RoW)
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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TABLE OF CONTENTS
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
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
3.1.2 Market Segmentation Of Autonomous Vehicles Market
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