New York, NY, Aug. 06, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Autonomous Cars Market By Type (Fully Autonomous, Semi-Autonomous), By Components (LIDAR, Ultrasonic Sensor, Camera, Radar, and Others), By Vehicle Type (Commercial, Passenger), By Level of Automation (Level-1, Level-2, Level-3, and Level-4): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026”.
“According to the recent research report, the demand of global Autonomous Cars Market size & share expected to reach to USD 64.88 Billion by 2026 from USD 23.33 Billion in 2020, at a compound annual growth rate (CAGR) of 22.7% during the forecast period 2021 to 2026”
Global Autonomous Cars Market: Overview
An autonomous car is one that can sense its surroundings and drive itself without the help of humans. It is not required for a human passenger to assume control of the car at any point, nor is it necessary for him or her to be in the vehicle at all. A self-driving automobile can go wherever a standard car can go and perform any task that a skilled human driver can. Autonomous vehicles now allow non-drivers and those with certain disabilities to travel independently. They allow travelers to travel in greater luxury and flexibility, letting them read, rest, or even work while on the road, increasing efficiency. Radar, sonar, LIDAR, odometry, GPS, and inertial estimation units are some of the sensors used by cars to identify their current situation without the assistance of anyone else. Cutting-edge control frameworks decode tangible data, such as roadblocks and basic signage, to determine suitable route courses. The autonomous vehicle will transform the automobile industry.
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Industry Major Market Players
- Waymo
- Aptiv
- Autoliv
- Baidu
- BMW
- Bosch
- Continental
- Daimler AG,
- Ford Motor Company
- General Motors
- ZF Friedrichshafen AG
- Honda
- Hyundai
- Intel Corporation
- ZF Friedrichshafen AG
- Jaguar
- Nissan
- Nvidia Corporation
- Tesla
- Toyota
- Volkswagen
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Key questions answered in this report:
- What is the projected market size & growth rate of the Autonomous Cars Market?
- What are the key driving factors for the growth of the Autonomous Cars Market?
- What are the top companies operative in Autonomous Cars Market?
- What segments are covered in Autonomous Cars Market?
- How can I get free sample report/company profiles of the Autonomous Cars Market?
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Market Dynamics & Drivers
- Rise in Demand For Connected Cars Using Internet Of Things (IoT)
Car drivers can enhance their performance by receiving real-time feedback from high-speed in-memory processing systems embedded into linked cars, thanks to the Internet of Things. These built-in computers have functions such as data collection, analysis, and storage, which aid in decision-making. Autonomous and semi-autonomous vehicles are projected to benefit from the widespread deployment of connected cars.
A major aspect propelling the market for self-driving cars is the development in the building of smart cities. Electric self-driving cars contribute to the reduction of air pollution in smart cities and the battle against climate change. When self-driving cars are employed, traffic accidents can be decreased by 90%, significantly improving road safety. Improved safety systems and driver help features such as blind-spot detection and automated emergency braking systems are becoming more popular as the frequency of traffic incidents rises. Furthermore, the demand for cost-effective autonomous vehicle safety solutions is likely to drive growth in the autonomous car market.
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Global 3D Machine Vision Market: Report Scope
| Report Attribute | Details |
| Market Size 2020 Value | USD 23.33 Billion |
| Market Forecast for 2026 | USD 64.88 Billion |
| Expected CAGR Growth | CAGR 22.7% from 2021-2026 |
| Base Year | 2020 |
| Forecast Year | 2021-2026 |
| Top Market Players | Waymo, Aptiv, Autoliv, Baidu, BMW, Bosch, Continental, Daimler AG, Ford Motor Company, General Motors, ZF Friedrichshafen AG, Honda, Hyundai, and Others |
| Segments Covered | Type, Components, Vehicle Type, Level of Automation, and Region |
| Geographies Covered | Asia Pacific, Europe, and North Americas |
| Pricing Options | Request customized purchase options to meet your research needs. Explore purchase options |
COVID-19 Impact Analysis
COVID-19 impacted the entire automotive sector, prompting manufacturers to curtail output at their manufacturing plants. As a result of the epidemic's interruption at major suppliers, several passenger car manufacturers have reduced production in some locations. In order to limit the impact, they were working very hard on countermeasures and alternatives.
Global Autonomous Cars Market: Segmentation
On the basis of type, the autonomous cars market is classified into fully autonomous, and semi-autonomous. The demand for semi-autonomous and autonomous vehicles is growing as a result of a variety of factors, including the need for ease of driving and a growing concern for privacy and comfort, which leads to a demand for high-end technology and an increase in demand for the autonomous and semi-autonomous car. Based on components, the market is segmented into LIDAR, ultrasonic sensor, camera, radar, and others. Passenger and commercial vehicles are the vehicle types. The passenger automobile sector has the largest market share in the world. The key causes driving the high expansion of auto production around the world include expanding urbanization, strong demographic growth, higher living standards, and increased purchasing power.
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North America Region Dominates the Global Autonomous Cars Market
The autonomous car market in North America is the largest in the world. For premium autonomous vehicles, the region represents a viable market. Market growth is fuelled by factors such as rising automobile sales and concerns about vehicle safety. Europe is the world's second-largest market for self-driving cars. The expansion of the regional market is aided by a rise in sales and R&D spending in luxury car developments. By the end of 2026, the Asia Pacific area is expected to be the second-largest market for autonomous cars. The expansion of the regional market is influenced by factors such as rising luxury vehicle manufacturing and sales.
Browse the full report “Autonomous Cars Market By Type (Fully Autonomous, Semi-Autonomous), By Components (LIDAR, Ultrasonic Sensor, Camera, Radar, and Others), By Vehicle Type (Commercial, Passenger), By Level of Automation (Level-1, Level-2, Level-3, and Level-4): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” at https://www.fnfresearch.com/autonomous-cars-market
The global autonomous cars market is segmented as follows:
By Type:
- Fully Autonomous
- Semi-Autonomous
By Components:
- LIDAR
- Ultrasonic Sensor
- Camera
- Radar
- Others
By Vehicle Type:
- Commercial
- Passenger
By Level of Automation:
- Level-1
- Level-2
- Level-3
- Level-4
Key Highlights of this Report:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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