Global Autonomous Cars Market Report 2024: Growth Rate, Major Segments And Regions

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The Autonomous Cars by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Autonomous Cars, The autonomous cars market size has grown rapidly in recent years. It will grow from $1047.13 billion in 2023 to $1176.95 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to emerging markets growth, high adoption of connected cars, the growing demand for driverless vehicles, increased occurrences of vehicle theft and increased focus on road safety.

The autonomous cars market size is expected to see rapid growth in the next few years. It will grow to $1851.15 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to increasing r&d investments for self-driving vehicles, supportive government initiatives, the growing demand for electric vehicles, the increasing concerns about vehicle safety and the rising urbanization . Major trends in the forecast period include investing in ai (artificial intelligence), collaborating with telecom service providers to set up 5g network infrastructure for smooth functioning of autonomous cars, investing in cyber security software to protect autonomous cars from hackers, building relationships with taxi services to increase revenue through a differentiated service, integrating improved vision solutions in cars for better-quality direction and object recognition, utilizing ar (augmented reality) and vr (virtual reality) technologies and focusing on pre-collision assist and pedestrian detection technology.

The rise in the development of smart cities is a key factor driving the growth of the autonomous cars market. Electric autonomous cars help reduce air pollution in smart cities and also help to fight climate change. By using driverless cars, traffic accidents can be decreased by 90%, significantly improving the safety of our roads. Several countries, such as Mexico, Canada, and the United States, are deploying digital infrastructure to promote communication between vehicles and networks to collect essential information, thereby reducing traffic congestion and improving road safety. Therefore, the rise in the development of smart cities is expected to drive the growth of the autonomous cars market.

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The autonomous cars market covered in this report is segmented –

1) By Automation Level: Level 1, Level 2, Level 3, Level 4, Level 5

2) By Product Type: Semi-Autonomous Vehicles, Fully-Autonomous Vehicles

3) By Application: Civil, Robo Taxi, Offline Taxis, Ride Hail And Ride Sharing, Other Applications

Full automation vehicles are a key trend in the autonomous cars market. Full automation vehicles are capable of performing all driving functions in all circumstances. These vehicles are being designed to be used as Robo-taxis, among others, such as Waymo. Eventually, these self-driving cars will blend into U.S. roadways by improving technology across six stages of driver assistance in the forecast period, from no automation (where a fully engaged driver is still required) to full autonomation (where an automated vehicle runs independently without a human driver). Tesla has confirmed that it plans to provide a software update to its vehicles sometime by the end of 2019 or early 2020. Also, according to Wired, by the end of 2020, Tesla will be fully autonomous.

The autonomous cars market report table of contents includes:

1. Executive Summary

2.Autonomous Cars Market Characteristics

3.Autonomous Cars Market Trends And Strategies

4.Autonomous Cars Market analysis

5.Autonomous Cars Market Size And Growth

6.Autonomous Cars Segmentation

7.Autonomous Cars Regional And Country Analysis

27.Autonomous Cars Competitive Landscape And Company Profiles

28.Autonomous Cars Key Mergers And Acquisitions

29.Autonomous Cars Future Outlook and Potential Analysis

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