Market Research Report
Self-Driving Car - Global Market Outlook (2019-2027)
|Published by||Stratistics Market Research Consulting||Product code||975811|
|Published||Content info||150+ Pages
Delivery time: 2-3 business days
|Self-Driving Car - Global Market Outlook (2019-2027)|
|Published: November 1, 2020||Content info: 150+ Pages||
According to Stratistics MRC, the Global Self-Driving Car Market is accounted for $41.18 billion in 2019 and is expected to reach $441.02 billion by 2027 growing at a CAGR of 34.5% during the forecast period. Some of the key factors propelling the growth of the market are rising safety concerns, investments in digital infrastructure, and advancements in automotive technologies. However, low consumer acceptance ratio is the restraining factor for the growth of the market.
Self-driving cars are those cars in which human drivers are not required to take control to safely operate the vehicle. These cars combine sensors and software to control, navigate, and drive the vehicle. It can sense its environment and move safely with little or no human input.
By automation level, the level 1 segment is expected to grow at a significant market share during the forecast period as the government across the globe are continuously working on improving the safety of the vehicles by mandating the use of advanced driving assistance systems (ADAS) in the vehicles. Based on geography, North America is anticipated to hold considerable market share during the forecast period which is attributed to the amendments in traffic regulations by the government to incorporate autonomous cars on public roads.
Some of the key players in Self-Driving Car Market include: Volvo Cars, Google Inc., Uber Technologies Inc., Toyota Motor Corp, Nissan Motor Co. Ltd, Tesla Inc, General Motors Company (GM), Daimler AG, BMW, Volkswagen AG, Waymo LLC, Ford Motor Company, Honda Motor Co., Ltd, Valeo SA, and Audi AG.
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