Shared Mobility & Advanced Technology is robustly escalating the Global Autonomous Vehicle Market
Rising demand for advanced
technology, increasing investment in shared mobility, and reduced fatal
injuries with autonomous vehicles are increasing the demand for the Autonomous
Vehicle market.
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 behaviour. 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, with
shared mobility is heavily investing in the autonomous vehicle to 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.
Browse more
thanXX market data Figures spread through 110 Pages and an in-depth TOC on "Global Autonomous Vehicle Market".
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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