Autonomous Vehicle or driverless car or self-driving car are capable to reading and sensing the environment and operate without human input. Market Research Future predicts the market is projected to reach USD $65.3 billion by 2027 with 26.2% CAGR during review period of 2015-2027.
The autonomous vehicle segmented into sensor market comprises of ultrasonic, radar, lidar, image sensor, further the market is split into by hardware that includes camera, communication systems, gps systems, it is further segmented into by type which comprises of semi-autonomous and fully autonomous.
Geographically, North America is dominating the market of Autonomous Vehicle with the market share of XX%. A study shows that by the end of 2019, US is expected to witness a health demand for autonomous vehicles. Technological advantage is the major factor which is giving the North America a leader position in the market. Europe stands as second biggest market for autonomous vehicle as population of Europe region is more adaptive towards the new technologies. Countries in the Asia-Pacific like China, Japan are helping the companies in order to understand the technology and develop them. Aging population is currently big issue in Japan and it is expected that Autonomous vehicle market will grow rapidly in this country.
The key players in the market of Autonomous vehicle 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.
Study Objectives of Wearable Sensors Market Development and Demand Forecast to 2027 Market
- To provide detailed analysis of the market structure along with forecast for the next 5 years of the various segments and sub-segments of the Global Autonomous Vehicle development and demand market
- Upcoming technologies, high growth geographies and countries were identified
- Regional and country specific demand and forecast for wearable sensors were studied
- Key segments covered in the report are: type, application, end user, and region
- Unit breakdown for all different classification was finalized; and same was referred for forecasting, keeping few assumptions into factor
- For all the regions: forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
- Historical trend is identified to forecast and estimate the future value and volume data
- Component and Raw Material Suppliers
- Service Suppliers
- Potential Investors
- Key executive (CEO and COO) and strategy growth manager
- In 2015, the North America had the largest share of ~39.08% in the market and is expected to lead the market by 2027
- APAC is likely to be the fastest growing market, due to growing radar sensor followed by image sensor, ultrasonic and others in day to day life.
- The emerging countries in Asia-Pacific, such as Japan, South Korea and China, are superior in the development and adoption of advanced technology
Regional and Country Analysis of Global Autonomous Vehicle Market Development and Demand Forecast to 2020 Market
As per the MRFR analysis, the Asia-Pacific Autonomous Vehicle market is poised to reach $XX billion in 2027, to grow at a CAGR of around 29.2% during the forecasted period. Europe and North America will grow at a CAGR of approximately 24.3% and 25.8% respectively.
The reports also cover country level analysis:
- North America
- ·Rest of Europe
- Asia – Pacific
- ·Rest of Asia Pacific