Autonomous Vehicle Market Key Players, Trends, Growth Opportunities and Industry Forecast till 2025
“Growing popularity among consumers is considered as major catalyst for the robust market growth of autonomous vehicles industry, in the recent years.�
The Global Autonomous Vehicles Market is subject to witness a substantial growth due to the shifting focus towards a supportive regulatory framework, increase in government funding to promote adoption of automation and digitalization in the automotive sector and recent advancement in the digital infrastructure. The autonomous vehicles are also referred as self-driven cars; they are considered as a key innovation in the automobile sector. Growing popularity among consumers is considered as major catalyst for the robust market growth of autonomous vehicles industry, in the recent years. Globally, the autonomous vehicles market is predicted to grow at CAGR of 41.61% over the forecast period, providing numerous opportunities for market players to invest in research and development of the autonomous vehicles market. Additionally, availability of a wide range of products and vast industrial infrastructure in the North America and European region are anticipated to fuel the market demand for the autonomous vehicles over the forecast period. The recent technological advancements coupled with development of the novel products such as Lidar, stereo vision, GPS and IMU are expected to boost market growth in the upcoming years. Adoption of the sensors such as LiDAR and RADAR that help to carry out automated operation is estimated to foster market demand further. The automated systems perform complex tasks such as situational analysis, motion planning and trajectory control with the help of navigation sensors. The current advancements in automotive industry coupled with high-end market penetration are some of the key catalyst for robust market growth in the last few years.