Global Self Driving Car Market Foreseen to grow with 40% CAGR during 2019-2025

Posted On November 07, 2019

Value Market Research, an eminent market research company has published a report lately on the Global Self Driving Car Market. This report states that the global self-driving car market is currently under development and is expected to showcase a CAGR of 40% between 2019 and 2025. Self-driving cars or driverless cars are based on artificial intelligence and can judge any accidental situation in advance with the help of sensors and hence can activate precautionary measures. Also, features like better fuel efficiency, improved machine performance, reduced carbon emission, adaptive cruise control and automatic parking are expected to boost the sales and growth of the global self driving car market. Moreover, upcoming technological advancements, increase in the rates of road accidents and the growing demand for automation and efficiency are the key factors that would help the global self driving car market to grow. The self-driving vehicle would also help to boost several other industries such as trucking and delivery, auto insurance providers, energy companies, auto parts suppliers, dealerships, parking lots and ride-sharing services.

A self-driving car is a vehicle that is capable of sensing its environment and navigating and travelling any distance without any human input over the roads that have not been adapted to its use. Autonomous vehicles are capable of sensing their surroundings with the help of latest techniques such as radar, lidar, GPS and computer vision. The self-driving car is powered by AI Technology. It is developed using vast amounts of data from image recognition systems along with machine learning and neural networks to aid autonomous mobility. Advanced control systems function by interpreting appropriate navigation paths, obstacles and related signals. Various automakers are investing in AI to progress in the generation of autonomous vehicles.

The report “Global Self Driving Car Market Report By Component (Radar Sensor, Video Cameras, LiDAR Sensor, Ultrasound Sensor, Central Computing System, And GPS Navigation System) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2017-2024” covers the analysis and study of components, regions, key players and growth opportunities for the Global Self Driving Car Market.

The components of the global self driving car market as listed in the report are radar sensor, video cameras, lidar sensor, ultrasound sensor, central computing system and GPS navigation system. The Global Self Driving Car Market is spread over North America, Europe, Asia-Pacific, Latin America, Middle East and Africa and according to the report North America has been observed as the segment with the highest involvement in the Global Self Driving Car Market.

The Report Segments Global Self Driving Car Market –
By Component

  • Radar Sensor

  • Video Cameras

  • LiDAR Sensor

  • Ultrasound Sensor

  • Central Computing System

  • GPS Navigation System

By Region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa

Players Profiled In the Report:
AB Volvo, Audi AG, AutoNOMOS Labs, BMW AG, Daimler AG, Dutch Automated Vehicle Initiative (DAVI), Ford Motor Company, Google Inc., Toyota Motor Corporation and Volkswagen among others.

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