Autonomous cars, also known as driverless cars, are a revolutionary advancement in automation and communication technology. These vehicles can operate without the need for human input, owing to advanced sensor-processing technologies, adaptive algorithms, high-definition mapping, and infrastructure-to-vehicle and vehicle-to-vehicle communication technologies. Driverless cars are a great way to reduce traffic congestion, fuel consumption, and emissions as they can accelerate and decelerate when needed. This makes them more efficient than conventional vehicles and improves the utilization of limited land resources. They can also reduce the time commuters spend in transit and make travelling easier and comfortable. These benefits are encouraging consumers to shift towards buying autonomous vehicles.

Market Dynamics:

Increased energy savings offered by autonomous vehicle is expected to fuel growth of the global autonomous vehicle market over the forecast period.  Key players are focusing on inorganic growth strategies such as collaboration, partnership, merger & acquisition, and regional expansion to strengthen their position in the industry. This trend is likely to boost growth of the market over the forecast future.

However, there are a few factors that will restrict the growth of this market in the coming years. The high cost associated with developing autonomous vehicles is one such factor. This is especially true for developing nations that are currently lacking in advanced infrastructure. Moreover, consumer concerns about security and safety are another factor that may limit the adoption of self-driving vehicles.

Key features of the study:

• This report provides in-depth analysis of the global autonomous vehicle market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global autonomous vehicle market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Audi AG, BMW AG, Daimler AG (Mercedes Benz), Ford Motor Company, General Motors, Google LLC, Honda Motor Corporation, Nissan Motor Company, Tesla, Inc., Toyota Motor Corporation, Uber Technologies, Inc., and Volvo Car Corporation
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global autonomous vehicle market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global autonomous vehicle market

Detailed Segmentation:

• Global Autonomous Vehicle Market, By Application:
  • Transportation
  • Commercial
  • Industrial
  • Defense
• Global Autonomous Vehicle Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Company Profile:
• • Audi AG
  • BMW AG
  • Daimler AG (Mercedes Benz)
  • Ford Motor Company
  • General Motors
  • Google LLC
  • Honda Motor Corporation
  • Nissan Motor Company
  • Tesla, Inc.
  • Toyota Motor Corporation
  • Uber Technologies, Inc.
  • Volvo Car Corporation
  • Volkswagen AG