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 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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Some of the key players in the autonomous vehicles 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.), and others. Going loggerhead with strategies seems to be an option for many companies in the market as a method of survival. These strategies include merger, acquisition, collaboration, new product launch, and other methods which often trigger individual growth and certainly helps in the market expansion.
NXP Semiconductors N.V., a name to reckon with in the automotive semiconductor sector, acquired OmniPHY, a provider of automotive Ethernet subsystem technology. This will help in rapid data generation for autonomous driving. The acquisition took place in September 2018.
In October 2018, Lyft unveiled their new self-driving car which is a Ford Fusion hybrid sedan. At the same time, they announced their acquisition of Blue Vision Labs, a London-based augmented reality startup, that assists in process street-level imagery.
Autonomous Vehicles Market - Segmentation
• Segmentation by sensor: ultrasonic sensors, radar sensors, lidar sensors, image sensors, and others.
• Segmentation by hardware and software: cameras, communication and telematics, and GPS systems.
• Segmentation by type: semi-autonomous vehicles and fully autonomous vehicles. Fully autonomous vehicles are further classified in user-operated fully autonomous vehicles and driverless fully autonomous vehicles.
• Segmentation by region: North America, Europe, Asia Pacific and rest of the world.
Autonomous Vehicles Market Global Market - Regional Analysis
The regional analysis of autonomous vehicles market is studied for North America, Europe, Asia Pacific and Rest of the World. Since a large number of autonomous vehicles market firms are based in North America, it is one of the leading player in autonomous vehicles market. Moreover, with higher adoption of self-driven vehicles, North America will dominate the autonomous vehicles market. Hence, the key players in the market are constantly innovating and investing in research and development activities in order to create cost-effective product portfolio.
With rapid advancements of Level 0 and Level 1 autonomous vehicles in countries like Germany and U.K.; the Europe region is expected to grow at highest CAGR due to their adoption in mobility services. However, fully autonomous vehicles are expected to dominate the market of Germany by 2027.
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• Car Manufacturers
• Technology Providers
• Car Component Manufactures
• Sensor Manufactures
• Software Developers
• OEMs in automotive Industry
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