Autonomous Vehicles Market Projected to Worth USD 65.3 Bn. by 2027

Overview

The autonomous vehicles market is set to grow at a high CAGR during the forecast period 2016 to 2027. As per the market research report, the market will hit US$65.3 billion in terms of valuation by the end of 2027. The market growth will be driven by the rising adoption of advanced safety systems. Based on the research report, driver assistance features will accelerate growth in the market till 2027. Although cyber security concerns will have a negative impact on the global autonomous vehicles market’s growth during this period. Cybersecurity issues such as data breaches is predicted to be a key challenge which could become a strong threat from 2016 to 2027 to companies. The autonomous vehicles market report published by expert analysts includes primary and secondary data and suggests that hardware and software, type, and sensors segments are anticipated to witness tremendous growth till 2027. Factors such as the adoption of advanced safety systems will become key growth drivers during the forecast period and the rising rate of road accidents is also said to be supporting the market globally, however, the growth projected for the forecast period could be affected by legal obstructions in autonomous vehicles which could negatively affect activities taking place across the market. The question of legal liabilities is another challenge the market could face till 2027 

Market Segmentation

The autonomous vehicles market is segregated into different market segments based on hardware and software, type, and sensors. For a comprehensive analysis of the autonomous vehicles market, the hardware and software, type, and sensors segments are further split into smaller segments. The type segment is categorized into semi-autonomous vehicles, fully autonomous vehicles. Furthermore, based on sensors, the global market is also segmented into ultrasonic, radar, lidar, image sensor, and others. Based on the market segmentation analysis, the report covers market forecasts. On the basis of hardware and software, the global autonomous vehicles market is split into sub segments including cameras, gps systems, and communication systems.

Benefits such as driver assistance features like blind-spot identification will support the market growth from 2016 to 2027. As per the market research report, the global autonomous vehicles market is anticipated to grow at a healthy rate across all the hardware and software, type, and sensors segments. However, the presence of active threats such as hardest technical challenges could hamper the market growth. Business activities across self-driving cars have also been examined and studied by self-driving cars industry’s experienced analysts. The autonomous vehicles market research report covers findings with predictions and forecasts till 2027.

Access Report Details @ https://www.marketresearchfuture.com/reports/autonomous-vehicles-market-1020

Regional Overview

The autonomous vehicles market, with its product and service related segments, is spread across the world. Self-driving cars based regional markets are also covered in the market research report. The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. Automatic emergency braking systems is anticipated to be a major factor for growth across the self-driving cars space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The self-driving cars sector based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific region, the market is segmented into China, India, Japan, and others. Self-driving cars based businesses in these regional markets are anticipated to grow due to increasing demand for cost-competitive autonomous vehicle safety systems during the forecast period 2016 to 2027. Although the market’s growth could be affected by need for psychological acceptance. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.

Competitive Landscape

Self-driving cars based organizations are profiled in the market research report. The autonomous vehicles market along with companies and segments have been studied. The analysis of self-driving cars based business is also done to identify key challenges and strengths of these companies. The global autonomous vehicles market research report covers SWOT analysis, Porter’s Five Force analysis of major self-driving cars related organizations. The strategy and other key details of these companies for the forecast period 2016 to 2027 are covered in the report. The increase in vehicle sales across the world is anticipated to support the market growth as the market is set to grow at a high CAGR and reach a value of US$65.3 billion by 2027.

The prominent players in autonomous vehicle ECU market are Hitachi, Ltd. (Japan), Continental AG (Germany), Intel Corporation (U.S.), Renesas Electronics Corporation (Japan), Nvidia Corporation (U.S.), ZF Friedrichshafen AG (Germany), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), Autoliv Inc. (Sweden) and Bosch (Germany) are among others.

Industry News

General Motors revealed today that it is purchasing Cruise Automation, a San Francisco-based maker of autonomous vehicle applications, only two days after Toyota acquired the autonomous software team at Jaybridge Robotics. For almost two years, GM has been watching the corporation test self-driving vehicles on the streets of San Francisco. GM will be able to get this technology to customers quicker by integrating its autonomous vehicle testing and engineering capabilities with Cruise's tools, according to Ammann. Cruise will act as a separate division of General Motors' newly created Autonomous Vehicle Research Team.