Autonomous Cars Market Analysis, Size, Drivers, Restraints, Opportunities and Threats by 2027
Category: #headlines  By Ronak Bora  Date: 2021-09-07
  • share
  • Twitter
  • Facebook
  • LinkedIn
Autonomous Cars Market Analysis, Size, Drivers, Restraints, Opportunities and Threats by 2027

The growth of the autonomous cars market can be aptly credited to the exponentially growing automotive sector across the globe. Having sold around 24 million units in 2017, autonomous cars industry has been consolidating its stance significantly in the automotive space, the future of which has been touted to be transformed owing to the rising popularity of connected cars that have lately been revolutionizing the mobility sector.

The intensive R&D efforts by industry leaders along with the support received from regional governments due to the added road-safety feature of the technology, would be responsible for the expansion of the global automotive market. Moreover, the environment-friendly feature of these vehicles would also contribute toward increased sales numbers in coming years.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/1224

Known as the first generation of autonomous vehicles – level-1 autonomous cars are the ones that incorporate an advanced driving assistance system (ADAS). The system acts as an extension of the driver and helps the vehicle operator operate the car safely. According to a 2018 report by the Victoria Transport Policy Institute (VTPI), many of the level-1 autonomous vehicles incorporate technologies like hazard warning, cruise control, collision avoidance as well as automated parallel parking that take over some of the driver’s responsibilities.

The level-1 based autonomous cars market is primarily driven by the rising road-safety concerns around the world as more and more vehicles are added to the roads each year. The increasing road-safety concerns have prompted governments across the world to introduce programs that mandate the incorporation of ADAS inside vehicles to ensure passenger safety. Programs such as the National Highway Traffic Safety Administration (NHTSA) in the U.S and the New Car Assessment Program (NCAP) in the European Union have impelled vehicle manufacturers to deploy vehicles that include a built-in level-1 semi-autonomous system. Amidst this scenario, it comes as no surprise that level-1 autonomous vehicles account for over 90% of the autonomous cars market share.

However, other industry players are rapidly closing the gap by making significant inroads in this vertical. For instance, automobile manufacturer General Motors Co. has made considerable investments in the sector with the intention of rolling-out a fully-autonomous ride-hailing service that uses a modified version of the company’s Chevrolet Bolt – a car that does not incorporate a steering wheel or control pedals – by the final quarter of 2019. To attain this goal, GM has received a significant investment worth $2.25 billion from the SoftBank Vision Fund. Moreover, companies are also working towards acquiring licenses from concerned authorities to carry out road-tests to test their respective self-driving vehicles.

Attributing to such advancements, the autonomous cars market is projected to continue garnering exponential growth in the forthcoming years. According to a report by Global Market Insights Inc. driven by the massively growing demand for these vehicles, autonomous cars market size is expected to surpass 60 million units by 2024.

Request for a Customization of this research report @ https://www.gminsights.com/roc/1224

Partial Chapter of the Table of Content

Chapter 5.   Global Autonomous Cars Market, By Level of Autonomy

5.1. Key trends, by level of autonomy

5.2. Level-1

5.2.1. Market estimates and forecast, 2015 - 2024

5.2.2.  Level-1 cars market, by type, 2015 - 2024

5.3. Level-2

5.3.1. Market estimates and forecast, 2015 - 2024

5.3.2.  Level-2 cars market, by type, 2015 - 2024

5.4. Level-3

5.4.1. Market estimates and forecast, 2015 - 2024

5.4.2.  Level-3 cars market, by type, 2015 - 2024

5.5. Level-4

5.5.1. Market estimates and forecast, 2015 - 2024

5.5.2.  Level-4 cars market, by type, 2015 - 2024

Chapter 6.   Global Autonomous Cars Market, By Type

6.1. Key trends, by type

6.2. Internal combustion engine (ICE) vehicle

6.2.1. Market estimates and forecast, 2015 - 2024

6.3. Hybrid electric vehicle (HEV)

6.3.1. Market estimates and forecast, 2015 – 2024

6.4. Battary electric vehicle (BEV)

6.4.1. Market estimates and forecast, 2015 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/autonomous-car-market

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

Read More >>

More News By Ronak Bora

Chilled Beams Market Analysis By 2026: Regional Trends & Growth Drivers
Chilled Beams Market Analysis By 2026: Regional Trends & Growth Drivers
By Ronak Bora

The size of chilled beams market was registered at USD 374.8 million in the year 2019 and is anticipated to cross USD 431 million by 2026. Between the period 2020-2026, the market is expected to register a CAGR of 4% As the whole world is moving tow...

Scissor Lift Market: Industry Potential, Regional Trends & Forecast 2021 - 2026
Scissor Lift Market: Industry Potential, Regional Trends & Forecast 2021 - 2026
By Ronak Bora

Asia Pacific region is observing a tremendous growth in scissor lift market owing to proliferating construction activities in the countries such as China, India and Japan. Further, rapid industrialization has also marked significant contributions in ...

By 2026, Roofing Underlayment Market from Commercial Construction Segment Is Expected To Hold 24% Industry Share
By 2026, Roofing Underlayment Market from Commercial Construction Segment Is Expected To Hold 24% Industry Share
By Ronak Bora

The application spectrum of roofing underlayment market is divided into residential, non-residential and commercial construction. Of these, the commercial construction sector is expected to hold a market share of 24% in 2026. Exponential rise in urba...