The Business Research Company’s Autonomous Cars Global Market Report 2021 – COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, September 21, 2021 /EINPresswire.com/ — Rise in the development of smart cities is a key factor driving the growth of the autonomous cars market. The 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, rise in the development of smart cities is expected to drive the growth of the autonomous cars market.
Full automation vehicles is a key trend in autonomous cars vehicle industries. The 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 coming years from No Automation (where a fully engaged driver is still required) to Full Automation (where an automated vehicle runs independently, without a human driver).
The autonomous vehicle market size 2020 was $719.94 billion, and this is expected to grow to $809.15 billion in 2021 at a compound annual growth rate (CAGR) of 12.4%. The growth in autonomous vehicle industries is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The autonomous cars market is expected to reach $1383.89 billion in 2025 at a CAGR of 14%.
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Major players in global autonomous vehicle industries are BMW Group, Tesla Inc., Ford Motor Company, General Motor Company, Nissan Motor Corporation, Daimler AG, Toyota Motor Corporation, Volkswagen AG, Volvo Group, Waymo LLC, Aptiv, Continental AG, Nvidia Corporation, Intel Corporation, Baidu Inc., Honda Motor Company Ltd., Hyundai Motor company, Uber Technologies Inc., FCA Italy S.p.A., Fiat-Chrysler, Autoliv Inc., Bosch GMBH, Jaguar Land Rover Limited, Subaru of America, Inc., Audi AG, Groupe SA, AB Volvo, Robert Bosch GMBH, Denso Corporation, Samsung, Google Inc.
TBRC’s global autonomous cars market report is segmented by product type into semi-autonomous vehicles, fully-autonomous vehicles, by application into civil, robo taxi, ride hail, ride share, others, by type into battery electric vehicle (BEV), internal combustion engine (ICE), hybrid electric vehicle (HEV).
Autonomous Cars Global Market Report 2021 – By Product Type (Semi-Autonomous Vehicles, Fully-Autonomous Vehicles), By Application (Civil, Robo Taxi, Ride Hail, Ride Share), By Type (Battery Electric Vehicle (BEV), Internal Combustion Engine (ICE), Hybrid Electric Vehicle (HEV)), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides autonomous cars market overview, forecast autonomous cars market size and growth for the whole market, autonomous cars market segments, and geographies, autonomous cars market trends, autonomous cars market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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