Global Autonomous Vehicle Market Research Report 2023
Autonomous Vehicles Market: Report Descriptions
Brief
Globally, automakers are aggressively focusing
on autonomous vehicles to satisfy customer demand, to remain competitive and to
improve their product portfolio. The autonomous vehicles or driverless vehicles
are those which can drive themselve without any human intervention, employing
inbuilt software, sensors, and communication systems. The driving capability of
the autonomous vehicles differs based on automation levels.
Market Analysis
According to Infoholic Research, the global
autonomous vehicles market revenue is expected to grow at a CAGR of 39.6%
during the forecast period 2017-2027 reaching $126.8 bilion by 2027. Increased
investments by automakers, the changing needs and behaviour of customers, and
environment-friendly features of autonomous vehicles are expected to drive
market growth. The market is analyzed based on the sensors, hardware, software,
services, regions, and autonomous vehicles types.
Technology Analysis
The trending advanced technology, artificial
intelligence (AI), is expected to play a significant role in the global
autonomous vehicle market. The automakers and technical vendors are investing
in AI to succeed in the era of autonomous vehicles. Furthermore,vehicle shared
services such as car sharing/ taxi sharing will reach a higher adoption rate as
individuals are most likely to use these kind of services due to greater
affordability and ease.
Segment Analysis
The adoption rate of semi-autonomous vehicles is
expected to grow at a rapid rate as the consumers and enterprises are investing
heavily on autonomous features.
In the next couple of years, fully autonomous
vehicles are expected to be launched. Once level 4 and level 5 vehicles are
fully launched, the market share of semi-autonomous vehicles is expected to
decline.
The region-wise segmentation analysis shows
that North America holds the major market share followed by Europe. China,
India, and Japan are the leading countries in the autonomous vehicles market.
Under segmentation by product type, the software segment contributes a major
market share owing to the rising AI implementation in vehicles.
Key Vendors & Competitive Analysis
The global autonomous vehicles market is set to
be a new source of revenue inflow for the value chain players, security,
service, autonomation, connectivity, manufactures, and sensors providers.
Partnerships and M&A strategies among the value chain players has been
increasing with the entry of several start-ups. Some of the key players covered
in the report are Apple, Google, Nissan Motor, Ford Motor, Intel, Volvo, General
Motors, Argus Cyber Security, nuTonomy, Almotive,and Autoliv.
Benefits
The report provides an in-depth analysis of the market demand
and the adoption rate of autonomous vehicles. The report aims to provide an
opportunity for key players to understand the latest trends, current market
scenario, government initiatives, and technologies related to the market. In
addition, it helps venture capitalists in understanding the profile of the
companies.
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