The Global Autonomous Vehicle Market size was valued at USD 54.21 billion in 2019 and is predicted to reach USD 2,044.93 billion by 2030, with a CAGR of 39.1% from 2020-2030. Furthermore, the global sale of autonomous vehicles was valued at 1.4 million units in 2019 and is projected an elevation up-to 58 million units by 2030, with a CAGR of 40.3% by 20202030. Light detection and ranging, radio detection and ranging, AI, IoT, along with the integration of advanced technologies, software systems and hardware systems; results in automatically operated, self-driving vehicles that function without human intervention. With trajectory control, motion planning, and creation of 3D map of the surroundings; automotive vehicles such as car, bus, truck and other ground vehicles can be automated up to Level 3, Level 4, and Level 5. Market Segmentations and Scope of the Study: The global autonomous vehicle market share has been analyzed based on automation level, component, application, and geography. Based on automation level, the market is segmented into level 3, level 4, and level 5. Based on component, the market is fragmented into hardware, service, and software. Based on application, the market is divided into civil, robo-taxi, ride hail, ride share, self-driving truck, and self-driving bus. Geographic breakdown and analysis of each of the previously mentioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW. Request
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https://www.nextmsc.com/autonomous-vehicle-market/request-sample Geographical Analysis North America dominated the global autonomous vehicle market in the past and is expected to maintain its dominance throughout the forecast period. This is attributed to higher adoption of autonomous vehicle in this region, well-established automotive manufacturing infrastructures, presence of key manufacturers, stringent traffic regulations, adoption of advanced technologies, well-developed system of road network, and evolution of fully autonomous road transportation system. Asia Pacific is expected to gain traction in the global autonomous vehicle market, with a substantial growth in market share over the forecast period. This is due to increase in per capita disposable income, improving standards of livings, improving traffic norms, and increasing investment in the automotive sector. Europe region is expected to grow with the highest CAGR values in the global autonomous vehicle market throughout the forecast period, owing to growing consumer preferences for autonomous vehicles, and increasing adoption of advanced technological products.
Inquire before buying- https://www.nextmsc.com/autonomous-vehicle-market/inquirebefore-buying Competitive Landscape The autonomous vehicle market is highly competitive and consists of various market players. Some of the major market players include Daimler AG, General Motors, Ford Motor Company., Volkswagen Group, Tesla Inc., Renault-Nissan-Mitsubishi alliance, Groupe SA, Volvo-Autoliv-Ericsson-Zenuity alliance, AB Volvo, Toyota Motor Corporation, and BMW AG among others. The key players are employing strategies such as product launches, acquisition, and technical collaboration, in-order to gain stronger position in the autonomous vehicle market. In July 2019, The BMW Group, one of the giants in autonomous vehicle market, along with Daimler AG, launched long-term cooperation for the development of automated driving solutions, by signing a strategic agreement. The joint venture focuses on the development of next-gen technologies for automated driving on highways, automated driver assistance systems, and automated parking system. In May 2019, Alliance Venture, the strategic capital investor of Groupe Renault, Nissan Motor Company and Mitsubishi Motors, announced a partnership with Plug and Play China. Alliance Ventures plans at an estimated investment of $1 billion by 2022, to support open innovation, and remain at the cutting-edge of next-generation systems for the automotive industry. In October 2019, Volvo Group, one of the major players of autonomous vehicle market, announced that it is to accelerate the development, sales, and commercialization, of new autonomous transport solutions to create a new business era. With this Volvo aims to cater the demand for autonomous solutions that are safer, more efficient and create lower environmental impact, thereby offering best possible solutions to customers dealing in segments such as transportation between logistic centers, mining, and ports. About Us: Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We carefully analyse the historical data, augment it by constantly keeping an eye on the latest industry trends and estimate the future events to arrive at accurate market forecasts. For more insights, please visit, https://www.nextmsc.com
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