In a recent published report, Kenneth Research has updated the market report for Self-Driving Car Market for 2024 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2024- Positive Growth in the economic demand and supply.
According to the statistics by the Organization for Economic Co-operation and Development (OECD), the United States recorded to be the largest exporters of international trade in services amongst all the OECD nations with a value worth USD 827 billion in the year 2018.
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Global Self-Driving Car Market is forecasted to reach $20 billion by 2024; growing at a CAGR of 25.7% from 2016 to 2024. A self-driving car or a driverless car or even robotic car navigates without any human input as the vehicle has the capability of sensing its surroundings while driving on road. Self-driving cars have pre-installed control systems in them which uses their sensory data in differentiating between different cars and other vehicles on the road, and also helps in deciding a path to the destination. These cars have the ability detect their surrounding using variety of techniques such as LiDAR, radar, GPS and Odometry. Introduction of driverless cars could help in the reduction of traffic collisions, enhanced mobility for injured or disabled people, eco-friendly and lower need for insurance.
Increasing support by various government departments for prevention of road accidents and technological advancements are the major factors supporting the growth of market. Moreover, reduction in the consumption of fuel and insurance cost are also expected to drive the market. However, concern about safety of driverless cars, risk of privacy and security may hinder the growth of market.
By components, the self-driving car market is segmented into hardware, software, Lidar, radar, optical cameras and others. The software component is largest segment at present and is likely to hold its position throughout the forecast period due technological enhancement in software segment such as advanced driver assistance systems to enhance safety and driving process.
Geographically, the market has been segmented into North America, Europe, Asia Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, UK, Spain and rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
Major companies operating in this market are Google Inc., Tesla Motors, Inc., Toyota Motor Corporation, Audi AG, Ford Motor Company, Volvo Group, Nissan Motor Company, BMW AG, Baidu Inc., Daimler AG, Dutch Automated Vehicle Initiative (DAVI), Apple Inc., and Volkswagen among others.
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The key takeaways from the report:
The report will provide detailed analysis of Self-Driving Car market with respect to major segment such as technology. The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities is included in the report. An exhaustive regional analysis of Self-Driving Car Market will be provided in the report.
Profile of the key players in the Self-Driving Car Market will be provided, which include key financials, product & services, new developments and business strategies.
Scope of Self Driving Cars Market
Component Segments
Hardware
Software
Optical cameras
Lidar
Radar
Other
Geographical Segments
North America
US
Canada
Mexico
Europe
Germany
France
United Kingdom
Spain
Others
Asia-Pacific
China
India
Japan
South Korea
Others
RoW
South America
Middle East
Africa
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Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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