DUBLIN, May 17, 2021 /PRNewswire/ -- The "Autonomous Cars Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
Autonomous Cars Global Market Report 2021: COVID-19 Growth and Change to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global autonomous cars market.
Major players in the autonomous cars market are BMW Group, Tesla Inc., Ford Motor Company, General Motor Company, Nissan Motor Corporation, Daimler AG, Toyota Motor Corporation, Volkswagen AG, Volvo Group and Waymo LLC.
The global autonomous cars market is expected to grow from $719.94 billion in 2020 to $809.15 billion in 2021 at a compound annual growth rate (CAGR) of 12.4%.
The growth 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 market is expected to reach $1383.89 billion in 2025 at a CAGR of 14%.
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.
Cybersecurity and safety concerns are the key factors hindering the growth of the autonomous cars market. Although the self-driving car market has enormous growth potential, many customers are not quite ready to hand over the keys owing to the threat of hackers as they can try to steal data and self-driving cars can go unofficial by exposing their driving routes and destinations that could threaten the privacy of passengers. The prospect of hackers taking control of the vehicles is even more concerning.
For example, the first case of an autonomous car killing a pedestrian was reported in Arizona (USA) in 2018. In July 2020, cybersecurity researchers used the latest hacking techniques to hack into the electrical systems of a Jeep Cherokee. Using the Internet, they were able to obtain wireless control of the Jeep Cherokee giving them on to the Jeep's entertainment system, allowing them to relay commands to its dashboard functions, steering, brakes, and transmission, and they were ready to do all of this remotely 10 miles away from the vehicle's location. The correlation between these attacks on common IoT devices and attacks in a connected or autonomous vehicle is the possibility of increased life and property risk in the vehicle context.
Full automation vehicles is a key trend in the autonomous cars market. 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 autonomation (where an automated vehicle runs independently, without a human driver).
In June 2019, Apple, an American based company, designs, develops and sells consumer electronics, computer software, and online services acquired Drive.ai for an undisclosed amount. This acquisition boosts Apple's own development of a self-driving vehicle system. Drive.ai, a California based company, works on autonomous cars.
Key Topics Covered:
1. Executive Summary
2. Autonomous Cars Market Characteristics
3. Autonomous Cars Market Trends and Strategies
4. Impact of COVID-19 on Autonomous Cars
5. Autonomous Cars Market Size and Growth
5.1. Global Autonomous Cars Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Autonomous Cars Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Autonomous Cars Market Segmentation
6.1. Global Autonomous Cars Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Semi-Autonomous Vehicles
- Fully-Autonomous Vehicles
6.2. Global Autonomous Cars Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Robo Taxi
- Ride Hail
- Ride Share
6.3. Global Autonomous Cars Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Battery Electric Vehicle (BEV)
- Internal Combustion Engine (ICE)
- Hybrid Electric Vehicle (HEV)
7. Autonomous Cars Market Regional and Country Analysis
7.1. Global Autonomous Cars Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Autonomous Cars Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- BMW Group
- Tesla Inc.
- Ford Motor Company
- General Motor Company
- Nissan Motor Corporation
- Daimler AG
- Toyota Motor Corporation
- Volkswagen AG
- Volvo Group
- Waymo LLC
- Continental AG
- Nvidia Corporation
- Intel Corporation
- Baidu Inc.
- Honda Motor Company Ltd.
- Hyundai Motor company
- Uber Technologies Inc.
- FCA Italy S.p.A.
- Autoliv Inc.
- Bosch GMBH
- Jaguar Land Rover Limited
- Subaru of America, Inc.
- Audi AG
- Groupe SA
- AB Volvo
- Robert Bosch GMBH
- Denso Corporation
- Google Inc.
For more information about this report visit https://www.researchandmarkets.com/r/pqp5sz
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SOURCE Research and Markets