According to the TechSci Research report, “Autonomous Vehicle Market-Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2030F,” the Global Autonomous Vehicle Market is anticipated to grow with a rapid CAGR in the upcoming years.
An autonomous vehicle is a self-driving vehicle that runs with the help of sensors and advanced features like ADAS. An autonomous vehicle operates software and travels between locations without a human operator thanks to a combination of sensors, actuators, machine learning systems, and complex and powerful algorithms. “The sensors gather real-time data of the surrounding environment including geographical coordinates, speed and direction of the car, its acceleration, and the obstacles which the vehicle can encounter.
A major factor driving the growth of the Global Autonomous Vehicle market is the paradigm shift in the transportation sector due to consumer behavior. The autonomous vehicle keeps a 360-degree view of the surroundings. Many companies are making strides in technological innovations to provide a safe and sustainable driving experience. Also, shared mobility is heavily investing in autonomous vehicles to be unique in their segment. Companies like Wamyo LLC, Zoox, Inc., Argo Ai, and General Motor Company have started their operations with autonomous vehicles in different cities.
However, the high initial cost and risk of malfunctions are some of the obstacles in autonomous vehicles. Still, the manufacturers are upgrading their technology and rigorously testing their vehicles to avoid these malfunctioning. Thus, autonomous vehicles’ increasing presence in the present has paved the way for a significant increase in the automobile industry’s future.
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The Global Autonomous Vehicle market can be segmented based on vehicle type, level of Automation, component, mobility type, and region. On the basis of vehicle type, the market is segmented into Passenger Car and Commercial Vehicle. The market has been classified into five categories based on the level of automation: Level 1, Level 2, Level 3, Level 4, and Level 5 Automation. In the current context, level 1 and Level 2 automation retain the majority of the market, with the recent advent of Level 3 automation providing more prospects for technological advancement to introduce Level 4 and Level 5 automation. Based on Component the market has been divided into Camera, Radar Sensors, Lidar, Ultrasonic Sensors, and Infrared Sensors. The market is segmented based on Mobility type into Shared and Personal.
Some of the major players operating in the Global Autonomous Vehicle Market include:
- BMW AG
- Robert Bosch Gmbh
- Tesla,Inc.
- General Motors Company
- Daimler AG.
- Ford Motor Company
- Hyundai Motor Group
- Waymo LLC
- Zoox,Inc.
- Pony.AI, Inc.
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“Many automobile manufacturing businesses are investing in advanced technologies in order to remain competitive in the industry. With the introduction of Artificial Intelligence and other advanced technology, as well as consumer attitudes toward self-driving vehicles, the automobile industry and shared mobility companies’ investment in autonomous vehicles is changing, resulting in the rapid growth of autonomous vehicles in the automobile industry. -.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Autonomous Vehicle Market, –Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2030Segmented By Vehicle Type (Passenger Car, Commercial Vehicle), By Level of Automation (Level 1, Level 2, Level 3, Level 4, Level 5), By Component (Camera, Radar Sensors, Lidar, Ultrasonic Sensors and Infrared Sensors), By Mobility Type (Shared, Personal), By Region, Competition Forecast & Opportunities, 2018- 2030F, has evaluated the future growth potential of Global Autonomous Vehicle Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Autonomous Vehicle Market.
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Table of Content-Autonomous Vehicle Market
- Introduction
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
- Impact of COVID-19 on Global Autonomous Vehicle Market
- Voice of Customer
5.1. Factors Influencing Purchase Decision
5.2. Aided and Unaided Brand Recall
5.3. Brand Satisfaction Level
- Global Autonomous Vehicle Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis (Passenger Car, Commercial Vehicle)
6.2.2. By Level of Automation Market Share Analysis (Level 1, Level 2, Level 3, Level 4 and Level 5)
6.2.3. By Component Market Share Analysis (Camera, Radar Sensors, Lidar, Ultrasonic Sensors and Infrared Sensors)
6.2.4. By Mobility Type Market Share Analysis (Shared and Personal)
6.2.5. By Region
6.2.6. By Company (2022)
6.3. Global Autonomous Vehicle Market Mapping & Opportunity
6.3.1. Market Mapping & Opportunity by Vehicle type
6.3.2. Market Mapping & Opportunity by Level of Automation
6.3.3. Market Mapping & Opportunity by Component
6.3.4. Market Mapping & Opportunity by Mobility
6.3.5. Market Mapping & Opportunity by Region
