May 28, 2020, 3:42 a.m. EDT

Autonomous Cars Market Future Prospects, Revenue Growth And Outlook 2026 | Fortune Business Insights

Top Players in Autonomous Cars Market are Daimler AG, General Motors, Ford Motor Company, BMW AG, Robert Bosch GMBH, Denso Corporation, Volvo-AutolivEricsson-Zenuity Alliance, Renault-Nissan-Mitsubishi Alliance, AB Volvo, Groupe SA, Toyota Motor Corporation, Tesla Inc

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May 28, 2020 (The Expresswire) -- Recent technological advancements are expected to steer growth in favour of the global autonomous car market through 2025. Fortune Business Insights in a report, titled " Autonomous Cars Market” Size, Share and Global Trend by Component (Hardware, Software, Services), Application (Passenger Cars, Public Transportation, Commercial Applications), and Geography Forecast till 2025,” offers insights into technological advancements such as LIDAR, GPS, radar sensing, and other computer vision programs embedded in self-driving vehicles drive the market. With the emergence of advanced technology, automakers are expected to invest heavily in autonomous and electronic vehicle technology. The era of automation is shifting towards more comfortable and secure transportation, thus leading to rising investments in the automation sector.

Request a Sample Copy of the Global Market Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/autonomous-cars-market-100141

Key Market Driver

  • Better safety, lesser fuel and insurance costs, and multitasking capabilities while traveling are expected to fuel the adoption of automotive cars.

Key Market Restraint

  • Low customer acceptance ratio in adopting driverless vehicle

Autonomous Cars Market Landscape and Market Scenario Includes:

  • Current market size estimate

  • Revenues by players Top Companies

  • Market size by product categories

  • Market size by regions/country

Growing Focus on Minimizing Risk of Accidents Boosts Market in North America

In 2018, North America was the leading contributor for maximum growth in the global autonomous cars market. The government in the U.S. is likely to introduce technological improvements in autonomous car features. The number of car crashes in this country is very high, which is expected to fuel demand for driverless vehicles between 2018 and 2025. Smart cities development is rising, as countries such as the U.S. is planning to deploy digital infrastructure by ensuring vehicle connectivity. This will further help to increase road safety and reduce traffic blocking. These factors are anticipated to drive the market in North America. The market in Asia Pacific is expected to grow at a faster rate during the forecast period. The rising adoption of autonomous cars in countries such as China is likely to create growth opportunities for the market in Asia Pacific. Autonomous driving is preferred more in China owing to the issues related to car parking and traffic management.

Important Features that are under Offering and Key Highlights of the Market Report:

  • Detailed overview of Autonomous Cars Market Share

  • Changing market dynamics of the industry

  • In-depth market segmentation by Type, Application, etc.

  • Historical, current and projected market size in terms of volume and value

  • Recent industry trends and developments

  • Competitive landscape of Autonomous Cars Market

  • Strategies of key players and product offerings

  • Potential and niche segments/regions exhibiting promising market growth

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/autonomous-cars-market-100141

Key Industry Developments

  • September 2017 : Ericsson, Volvo and Autoliv formed a Swedish venture for autonomous vehicles. The joint venture is aimed towards developing advanced driver assistance support (ADAS), end-to-end platform for connected safety, and autonomous driving software and functions.

  • April 2017 : Google’s self-driving car project Waymo already logged the equivalent of 300 years of driving experience on the city streets since 2009 and promises to free up our time, lower stress, make our roadways safer and improve transportation.

  • May 2016 :Uberinvested USD$ 300 Mn to develop a fleet of self-driving vehicles.

Top Players List:

  • Waymo

  • Autoliv

  • Bosch

  • Continental

  • FCA

  • Hyundai

  • Toyota

  • Uber

  • Volkswagen

  • Nvidia

  • Subaru

  • Tesla

  • Intel

  • Jaguar

  • Nissan

  • Honda

  • Baidu

  • Aptiv

Revolutionary Trends in Autonomous Driving to Transform the Market

“Transformation in the automotive sector is steered by the rapidly changing consumer behaviour,” observed a lead analyst at Fortune Business Insights. “Rising need for reliable transport and increasing safety concerns are projected as the growth engines for the global market,” he added. Onset of trends such as Mobility as a Service or MaaS is expected to speed the evolution of the market. Consumers are shifting from personally owned vehicles to mobility solutions, helping them to manage their trip considering convenience, cost, and time.

Automated system in vehicles help to enhance vehicle performance, offer better emission control, and ensure driver safety. This, along with other features such as electronic steering, collision avoidance, external airbags will enable growth in the market. Governments are increasingly investing in research and development (RandD) activities to improve infrastructure. This in turn, is estimated to encourage growth in the global market over the forecast years. For instance, as per Union Budget 2018-2019, Indian government allocated around US$ 92.22 Bn to infrastructure. Improvements in road infrastructure and increasing internet penetration across the world are also expected to offer tailwinds to the growth of the market. Fortune Business Insights predicts the above factors to shift consumer preference towards autonomous cars in the upcoming years.

Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/autonomous-cars-market-100141

Contrary to this, some factors may hamper the growth of the market. The high costs associated with automated vehicles may restrict the market’s growth. For instance, airbags used in autonomous cars are expensive and should be replaced immediately after the impact. This makes it difficult for middle-class people to buy such vehicles.

Queries Addressed In Autonomous Cars Market Report:

  • What opportunities are present for the Autonomous Cars market players to enhance their business footprint?

  • What manufacturing techniques are being implemented in the development of advanced Construction Equipment?

  • Which segment is witnessing huge traction from the consumers?

  • For what purposes, is the Autonomous Cars market being utilized?

  • How many units are estimated to be sold in 2020?

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