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Autonomous Cars Market– Industry Trends, Size, Growth Insight, Share, Emerging Technologies, Share, Competitive, Regional, And Global Industry Forecast To 2027

Key Companies Covered are Autoliv Inc., Aptiv, Waymo LLC, Robert Bosch GmbH, Daimler AG, Baidu, AutoX, Inc., Pony.ai, Ford Motor Company, HYUNDAI MOTOR GROUP, Volvo, among others.

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Jan 13, 2021 (The Expresswire) -- Autonomous Cars Market is set to grow exponentially owing to the increasing development of the ride-hailing technology. Hence, numerous industry giants are investing hefty amounts of money in the field of driverless ride-sharing. This information is given by Fortune Business Insights™ in a new study, titled,“ Autonomous Cars Market Size, Share and COVID-19 Impact Analysis, By Type (Fully Autonomous and Semi-Autonomous), By Vehicle Type (Passenger Cars and Commercial Vehicles) and Regional Forecasts, 2020-2027 .”As per the study, this market size was USD 1.82 billion in 2019 and is projected to reach USD 1.33 billion by 2027, exhibiting a CAGR of 3.3% during the forecast period.

COVID-19 Impact Analysis:

The outbreak of the COVID-19 pandemic is impacting the automotive industry severely by causing stringent restrictions on cross border trade. China is considered to be a major distributor of numerous technologies and components for automobiles. Owing to complete lockdown measures in this country, several companies located in the other nations are finding it difficult to get raw materials. Our reports would help you in gaining more insights into this market. You can select the best strategy available and gain business confidence. Request a Sample Report with Impact of COVID-19 Analysis:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/autonomous-cars-market-100141

Fortune Business Insights™ lists out the names of all the prominent autonomous cars manufacturers operating in the global market. They are as follows:

  • Autoliv Inc. (Stockholm, Sweden)

  • Aptiv (Dublin, Ireland)

  • Waymo LLC (California, United States)

  • Robert Bosch GmbH (Gerlingen, Germany)

  • Daimler AG (Stuttgart, Germany)

  • Baidu (Beijing, China)

  • AutoX, Inc. (California, United States)

  • Pony.ai (Fremont, California, United States)

  • Ford Motor Company (Michigan, United States)

  • HYUNDAI MOTOR GROUP (Seoul, South Korea)

  • Volvo (Gothenburg, Sweden)

This Report Answers the Following Questions:

  • What are the market drivers, hindrances, and opportunities?

  • Which segment is set to dominate the market in the near future?

  • How will the companies generate more sales amid the COVID-19 pandemic?

  • Which region is expected to remain in the leading position in the coming years?

Drivers and Restraints-

Emergence of Advanced Driver Assistance Systems to Boost Growth

The emergence of advanced driver assistance systems (ADAS) is a major autonomous cars market growth driver. They help in reducing the pressure on the driver by avoiding distractions. They are mainly equipped with artificial intelligence and other similar unique features. Besides, the increasing adoption of state-of-the-art technologies in mapping, processors, cameras, sensors, and software algorithms are resulting in the enhancements of the applicability of ADAS in every vehicle. Apart from that, automotive manufacturers are using ADAS in vehicles to reduce the rate of road accidents, as well as to improve the safety of pedestrians, occupants, and vehicles. However, highly advanced technological systems can often lead to failures and malfunctions. This factor may hamper market growth.

Segment-

Semi-autonomous Segment to Generate Highest Share Owing to Usage of Novel Features

Based on type, the market is bifurcated into fully autonomous and semi-autonomous. Out of these the fully autonomous car segment generated 78.9% in terms of autonomous cars market share in 2019. The semi-autonomous car segment is likely to generate the largest share throughout the forthcoming years owing to the increasing equipment of features, such as adaptive cruise control and intelligent park assist. This is mainly occurring because of the implementation of various government mandates to refine safety and security.

Regional Analysis-

Rising Consumer Preference for Advanced Features will Favor Growth in Asia Pacific

In 2019, Asia Pacific procured USD 0.81 billion in terms of revenue. The region is set to retain its dominant position in the coming years backed by the rising consumer preference for technologically advanced features and the high usage of these cars in this region. Several autonomous cars manufacturers in India and China are planning to broaden their production facilities and are trying to bring about rapid technological advancements.

Europe, on the other hand, is anticipated to remain in the second position because of the increasing investments by renowned manufacturers in the development of unique technologies. The British government has planned, for instance, is planning to support the development of autonomous cars in the U.K. by installing self-driving vehicles till 2021.

Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/autonomous-cars-market-100141

Key Questions Answered: Why Choose Fortune Business Insights?
What are the key demands and trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?

Key Points Covered:

  • Business Opportunities

  • Commerce Challenges

  • Demand Insights

  • CAGR Values

  • Historic Analysis

  • Detailed Segmentation

  • Top Companies Data

  • Market Size

  • Supply Trend

  • Target Audience

  • Key Geographies

Autonomous Cars market report Focus on:

  • Extensive product offerings

  • Customer research services

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