Autonomous Vehicles Market to Provide over USD 5 Billion Revenue Post 2016
PUNE, India, Oct. 13, 2016 /PRNewswire/ -- Market Research Future Published a Cooked Research Report On Autonomous Vehicles Market.
The Global Autonomous Vehicles Market is expected to grow over the CAGR of 26.2% during the period 2016 to 2027 from USD 3.6 billion in 2015.
Market Highlights
The Global Autonomous Vehicles Market has been evaluated as growing market and expected that the market will touch high growth figures. Since the technology has arrived in the automotive industry, many players are concentrating on developing a car which can be self-driven without any human command. Heavy investment in R&D and strategic collaboration is driving the market of autonomous vehicle with CAGR of 26.2%
Taste the market data and market information presented through more than 20 market data tables and figures spread over 86 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on "The Global Autonomous Vehicles Market Research Report - Forecast to 2027.
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Autonomous Vehicles Market:
There are various changes which are taking place in the automotive industry and companies are trying hard in order to gain high market share as well as increase in profit by deployment of advance technologies in the automotive sector. Autonomous vehicle is one of the concept which has emerged decades ago but now coming into picture. These vehicles are equipped with high class technology and sense the environment for safe and secure ride. Driverless cars are capable of taking you from one place to another without any input of yours. They can find the best route, give the ride information, can pick up you at time and can park itself. As the technology is growing and companies are making several attempts to make this reality, it is expected that these cars will hit the road by the end year 2020.
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The major participants of this market are Google (U.S.), General Motors (U.S.), Volkswagen (Germany), BMW (Germany), Ford Motor Company (U.S.), Baidu (China), Toyota (Japan), Tesla (U.S.), Audi (Germany), Jaguar (U.K.) among others.
Market Research Analysis:
Autonomous vehicles or driverless cars could be a revolutionary product for the automotive industry. Need of change is what makes the industry sustain and run and with the advancement of technology, people do expect some revolutionary product. Autonomous vehicles could change the whole automotive industry and can make the life of a person easier. Aging population, increase accident rate around the world and increasing consumption of passenger and commercial vehicles are some key drivers for the market of autonomous vehicles. Market Research Future has estimated that the market size of autonomous vehicle market will reach to US $65.3 billion by the end of forecasted period from US $3.6 billion in 2015 with CAGR of 26.2%.
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