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Autonomous Vehicle Market 2021-2027 Million-Dollar Business is About to Get a Reboot | Top Companies – BMW AG, Daimler AG, Ford Motor Company, Honda Motor, Tesla

Latest added Autonomous Vehicle Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2026. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Audi AG, BMW AG, Daimler AG, Ford Motor Company, Honda Motor, Tesla, Toyota Motor and Volkswagen AG. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

This report studies the Autonomous Vehicle Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Autonomous Vehicle Market by companies, region, type and end-use industry.

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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on “Autonomous Vehicle Market, By Type (Semi-autonomous Vehicles, Fully-autonomous Vehicles), Application (Transportation, Defense) & Geography – Global Forecast To 2027”. Early buyers will get 10% customization on study.

To Avail deep insights of Autonomous Vehicle Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.

Unlock new opportunities in Autonomous Vehicle Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.

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Autonomous Vehicle Market Outlook – 2026

The autonomous vehicle market size is estimated to grow from USD 35 Billion in 2020 to USD 856 Billion by 2027, growing at a CAGR of 57.9% during the forecast year from 2021 to 2027. Autonomous vehicle also known as self-driving vehicles uses artificial intelligence (AI) software, light detection & ranging (LiDAR), and RADAR sensing technology, which is further used to monitor a 60-meter range around the car and to form an active 3D map of the current environment. The vehicle is designed to travel between destinations without a human operator.

They combine sensors and software to control, navigate, and drive the vehicle. Autonomous vehicle uses LiDAR, RADAR sensors for its operation. Most self-driving systems create and maintain an internal map of their surroundings, based on a wide array of sensors, like radar.

The major companies profiled in the report are General Motors, Daimler AG, Ford Motor Company., Volkswagen Group, BMW AG, Renault-Nissan-Mitsubishi alliance, Volvo-Autoliv-Ericsson-Zenuity alliance, Groupe SA, AB Volvo, Toyota Motor Corporation, and Tesla Inc. Other companies in accordance with auto suppliers are Robert Bosch GMBH, Aptiv, Continental AG, and Denso Corporation. Also by technology providers, it includes Waymo, NVDIA Corporation, Intel Corporation, Baidu, and Samsung. And based on autonomous vehicle as a service provider, it includes Uber, Lyft and Didi Chuxing.

The autonomous vehicle market is segmented based on level of automation, component, application, and region. Based on level of automation, the market is divided into level 3, level 4, and level 5. By component, it is classified into hardware, software, and service. The applications discussed in this study are civil, robo taxi, ride hail, ride share, self-driving truck, and self-driving bus. Based on region, the market is analyzed across North America, Europe, AsiaPacific, and LAMEA.

TOP IMPACTING FACTORS

Development of smart cities and rise in demand for connected cars using internet of things (IoT), help solve the problem of traffic congestion, and impact the growth of the market. In addition, development in automotive sector, demand for the luxury cars, government regulation, high cost, and the burgeoning threat from hackers in driving operation also affect the growth of the global autonomous vehicle market. These factors are anticipated to either drive or hamper the market growth.

Rise in demand for connected cars using internet of things (IOT)

Through Internet of Things, car drivers improve their performance by receiving the real-time feedback from high speed in-memory computing systems inbuilt in connected cars. These inbuilt computers offer features such as collecting, analyzing, and storing data which helps for making decisions. The wide adoption of connected cars is expected to create lucrative opportunities for autonomous and semi-autonomous vehicles.

Development of smart cities

Rapid growth of economies ensures robust development from transport infrastructure to development of smart cities. Many countries such as Mexico, Canada, and the U.S. are deploying digital infrastructure to facilitate connectivity between vehicles and infrastructures to gather vital information, and thereby, reduce traffic congestion and increase road safety. Rise in the development of smart cities is expected to significantly drive the Autonomous Vehicle Market.

High component cost

Due to constant technological advancements, the software in autonomous vehicle needs to be frequently upgraded to keep them compatible with the external environment. Also, the cost of all components and the sensor assembly in autonomous cars is more than emerging vehicles. Moreover, the ratio of premium consumers to that of economic consumers is very less globally, as it is difficult for ordinary people to afford high end cars. Therefore, high initial cost coupled with maintenance cost hamper the adoption of the autonomous vehicles.

Key Benefits

  • This study comprises analytical depiction of the global autonomous vehicle market with current trends and future estimations to depict the imminent investment pockets.
  • The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current market is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
  • Porters five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Autonomous Vehicle Market Key Segments:

By Level of Automation

  • Level 3
  • Level 4
  • Level 5

By Component

  • Hardware
  • Software
  • Service

By Application

  • Civil
  • Robo taxi
  • Ride hail
  • Ride share
  • Self-driving truck
  • Self-driving bus.

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

The Autonomous Vehicle Market report is a professional in-depth study on the current state of the market. The market study provides details of drivers and restraints for the Autonomous Vehicle Market with the help of SWOT analysis, along with the impact they have on the demand over the forecast period. It is believed that granular information can help clients take efficient business decisions and this business report provides the same. By accomplishing an inspiration from the marketing strategies of rivals, businesses can set up inventive ideas and striking sales targets which in turn make them achieve competitive advantage over its competitors.

Table of Contents-Snapshot
– Executive Summary
Chapter 1 Industry Overview
Chapter 2 Industry Competition by Manufacturers
Chapter 3 Industry Production Market Share by Regions
Chapter 4 Industry Consumption by Regions
Chapter 5 Industry Production, Revenue, Price Trend by Type
Chapter 6 Industry Analysis by Applications
Chapter 7 Company Profiles and Key Figures in Industry Business
Chapter 8 Industry Manufacturing Cost Analysis
Chapter 9 Marketing Channel, Distributors and Customers
Chapter 10 Market Dynamics
Chapter 11 Industry Forecast
Chapter 12 Research Findings and Conclusion
Chapter 13 Methodology and Data Source

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