Self-driving cars are the vehicles that are capable of sensing the environment around and maneuvering safely with a little or even no human support. These vehicles are installed with various sensors such as artificial intelligence (AI), light detection & ranging (LiDAR), radio detection and ranging (Radar), sound navigation and ranging (Sonar), global positioning system (GPS), and odometry sensing technology to analyses their surroundings. In addition, developments in technology used in self-driving vehicles such as facial expression detection and activities such as braking and accelerations to avoid possible accidents makes them more powerful, effectual, and attractive. Leading self-driving technology innovators have also stepped into the market because of a higher profit margin from self-driving car market.
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North America (the U.S. and Canada), Europe (Germany, the U.K., France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and the Middle East & Africa
Mercedes Benz, Volvo cars, BMW, Google Inc, Tesla Inc, General motors, Ford motors, Volkswagen group, Apple Inc, and Toyota Motors
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Growth in technology & dynamic mobility application such as connected vehicle, need for safe, productive & efficient driving option and integrity of technology are driving the growth of the market. However, cybersecurity & safety concerns, and non-availability of required infrastructure in developing countries is expected to hamper the growth of the market. On the contrary, autonomous cars as a mobility service and robotic assistance helps in the growth of self-driving car can be seen as an opportunity for the market investments.
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The self-driving car market trends are as follows:
Cybersecurity and safety concerns
Autonomous cars could reduce the number of accidents as it uses various sensors such as RADAR, LIDAR, cameras, and others which to avoid collision. Furthermore, self-driving cars are installed with numerous artificial intelligence codes, which have possibilities to be manipulated by the hackers. For example, if 40% of all cars on the road are connected, randomly stalling them during rush hour would mean total traffic freeze. Therefore, concerns regarding cybersecurity & safety of the vehicle will hamper the growth of the self-driving car market.
Key benefits of the report:
1 This study presents the analytical depiction of the self-driving cars industry along with the current trends and future estimations to determine the imminent investment pockets.
2 The report presents information related to key drivers, restraints, and opportunities along with challenges of the self-driving car market.
3 The current market is quantitatively analyzed from 2019 to 2027 to highlight the self-driving car market growth scenario.
4 We can also determine autonomous will remain a significant revenue shareholder in the self-driving car market through the predictable future.
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