Dublin, Jan. 19, 2022 (GLOBE NEWSWIRE) -- The "Autonomous Vehicles - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Autonomous Vehicles estimated at 6.1 Thousand Units in the year 2020, is projected to reach a revised size of 110.1 Thousand Units by 2026, growing at a CAGR of 60.6% over the analysis period.
Transportation, one of the segments analyzed in the report, is projected to grow at a 60.2% CAGR to reach 149.4 Thousand Units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Defense segment is readjusted to a revised 63.7% CAGR for the next 7-year period.
This segment currently accounts for a 10.2% share of the global Autonomous Vehicles market. Autonomous vehicles (AVs) are anticipated to find increasing uptake in the military sector due to the unabated increase in global military spending over the short- to medium-term.
Rising automobile consumer focus on efficiency and connectivity is driving automakers to scale up technology adoption in line with these requirements and to stay competitive. The increasing development and adoption of new electric car models is expected to further drive gains for the automotive software market.
In addition, the market growth is poised to be augmented by trends such as digital dealerships and automation. Various companies are partnering with software developers for enhancing vehicle performance and improving safety and driving experience. These developments are anticipated to garner more traction in the coming years.
These collaborations are set to support encouraging activities associated with autonomous vehicles, emerging technologies, mobility and electrification while allowing players to ensure availability of sophisticated software solutions for upcoming vehicle models.
While current challenges have derailed and delayed innovations and developments scheduled for the year 2020, the future nevertheless remains more promising than the pre-pandemic outlook. Although the year 2020, which was earlier touted to be prime time for autonomous cars, unfortunately went down into history as the year of disruptions, missed targets, economic devastation, the pandemic paradoxically has also eliminated long-term obstacles for self-driving and advanced automotive technologies.
The U.S. Market is Estimated at 3.4 Thousand Units in 2021, While China is Forecast to Reach 17.3 Thousand Units by 2026
The Autonomous Vehicles market in the U.S. is estimated at 3.4 Thousand Units in the year 2021. The country currently accounts for a 40% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of 17.3 Thousand Units in the year 2026 trailing a CAGR of 74.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 53.3% and 58% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 49.9% CAGR while Rest of European market (as defined in the study) will reach 26.1 Thousand Units by the end of the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- The Automotive Industry Rushes Headlong Into a Digital Future
- Exploding Automotive Software Market Stands Testimony to the Industry's Envisioned Digital Future
- Autonomous Vehicles (AVs), the Natural Evolutionary Culmination of the Digital Journey Undertaken by the Automotive Industry
- The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
- These are Times When Questions Abound & Answers Are Few
- So How Fast Or Slow Are We Moving?
- Split Scenarios Unfold: The Great Vaccine Divide Emerges
- Progress on Vaccinations, Why Should Businesses Care?
- With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
- How the Automotive & Transportation Industries Were Impacted by the Pandemic & What's the New Normal?
- The Automotive Industry
- Transportation Industry Bites the Dust
- Autonomous Vehicles: Definition, Importance & Benefits
- Recent Market Activity
- Innovations
- World Brands
2. FOCUS ON SELECT PLAYERS (Total 47 Featured)
- Audi AG
- BMW AG
- Daimler AG (Mercedes Benz)
- Ford Motor Company
- General Motors Company
- Google LLC
- Honda Motor Corporation
- Nissan Motor Company
- Tesla
- Toyota Motor Corporation
3. MARKET TRENDS & DRIVERS
- Innovative Developments & Robust Outlook for Vehicle-to-Everything (V2X) Drives Optimism in the Future of Autonomous Driving
- Digitalization of Logistics Primes the Transportation Industry for an Autonomous Future
- Robust Spending on Digitalization in the Transportation Industry Bodes Well for Accelerated Adoption of Autonomous Freight Trucks: Global Digital Transformation Spending in Logistics (In US$ Billion) for Years 2021, 2023, 2025 and 2027
- Piggybacking on the Digitalization Frenzy, Autonomous Trucks Storm Into the Spotlight in the Logistics Industry
- Unfazed by the Pandemic, Continuous Strong Gains in Global Defense Spending Bodes Well for AVs in the Military Sector
- Robust Defense Spending Brings Cheer for AV Manufacturers: World Military Expenditure (In US$ Billion) for Years 2019, 2020 and 2021
- The U.S., an Attractive Market for Manufacturers: Top Military Spenders for the Year 2021 (In US$ Billion)
- Current State of Autonomous Vehicle Technology in the Military Sector: A Review
- Blockchain & Autonomous Vehicles: A Perfect Pair
- Role of AI in Autonomous Vehicles Gets Bigger
- Safety of Autonomous Vehicles Under the Scanner
4. GLOBAL MARKET PERSPECTIVE
- World Current & Future Analysis for Autonomous Vehicles by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Units for Years 2020 through 2027 and % CAGR
- World 7-Year Perspective for Autonomous Vehicles by Geographic Region - Percentage Breakdown of Volume Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2021 & 2027
- World Current & Future Analysis for Transportation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Units for Years 2020 through 2027 and % CAGR
- World 7-Year Perspective for Transportation by Geographic Region - Percentage Breakdown of Volume Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
- World Current & Future Analysis for Defense by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Units for Years 2020 through 2027 and % CAGR
- World 7-Year Perspective for Defense by Geographic Region - Percentage Breakdown of Volume Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 47
For more information about this report visit https://www.researchandmarkets.com/r/krfovw
