The Self-Driving Cars Market was valued at USD 20.3 Million in 2021 and is projected to grow USD 53.0 Million in 2028, at a CAGR of 14.71%. Self-Driving Cars are also known as autonomous cars, or driverless cars, that can automatically read and sense the environment. The Internet, Smart Technologies, Smartphones, and Computers merge with vehicles to assist and automate driving operations. These vehicles represent a major revolution in connectivity and automation technology.
Autonomous cars reduce road accidents, fuel consumption, and insurance costs. major auto manufacturers have a keen interest in the commercialization of these vehicles This is expected to drive market growth during the forecast period.
The development and testing of autonomous cars and improvement in sensor-processing technologies slowed down due to the COVID-19 pandemic. During the pandemic, manufacturing units and vehicle sales around the globe were significantly affected.
Rising health concerns have significantly affected the transportation industry as more travelers opt for personal transportation. Therefore, self-driving cars are an attractive solution as they comply with social distancing norms. During the pandemic, an autonomous car manufacturing company has received permission in California to run its vehicle.
For this research report, secondary research was performed extensively to gather information about the global Self-Driving Cars market. Furthermore, primary research has been carried out to back the aforementioned assumptions and findings for particular individual industries. The research report on the Self-Driving Cars market report is provides insightful data about the topological landscape of many companies and respective businesses that have earned a higher position in this market.
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Development in Ride-Sharing Technology have propelled the Autonomous Cars Market
Autonomous cars can operate with minimal or no human input. The development of ride-sharing technology will fuel the growth of the market as several manufacturers have invested large amounts in the market. For instance, Waymo LLC, has introduced self-driving taxis in Phoenix, Arizona, plans to expand. Several players such as Ford, General Motors, and Uber are also likely to introduce similar services in the future.
This report further provides data of this market's major manufacturers' revenue share, sales price, production, consumption volume, import/export, and gross margin in detail. The Self-Driving Cars market is further segmented into categories based on upstream raw materials, downstream users, definitions, and equipment analysis. This global Self-Driving Cars market research also includes data about emerging trends, the competition landscape, market impacting factors, and key industry statistics.
The global Self-Driving Cars market research has been subdivided into application, leading manufacturers, product types, and topological zones to enhance various industrial strategies, advertising methods, and its impact on the worldwide sales of this Self-Driving Cars market. Additionally, several crucial aspects such as Self-Driving Cars market share, revenue growth, investments, global demand and supply dynamics are thoroughly researched for the Self-Driving Cars market report. The research report has been made by analyzing the Self-Driving Cars market's production growth and profit rates across various regions. It also emphasizes on this markets top consumers, consumption, product capacity, market share, and predicted potential advancements.
Top Players involved in this report are:
Autoliv Inc. (Stockholm, Sweden)
Aptiv (Dublin, Ireland)
Waymo LLC (California, United States)
Robert Bosch GmbH (Gerlingen, Germany)
Daimler AG (Stuttgart, Germany)
Baidu (Beijing, China)
AutoX, Inc. (California, United States)
Pony.ai (Fremont, California, United States)
Ford Motor Company (Michigan, United States)
HYUNDAI MOTOR GROUP (Seoul, South Korea)
Volvo (Gothenburg, Sweden)
Global Self-Driving Cars Market segmentation by Types:
The Application of the Self-Driving Cars market can be divided as:
Geographical outlook of this report:
• North America
• Latin America
• Middle East & Africa
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The competitive assessment of the prominent industry players is also encompassed in the global Self-Driving Cars market which is responsible to recognize direct or indirect competitors present in the industry. It offers company profiles of the Self-Driving Cars industry players in accordance with product picture and its portfolios, Self-Driving Cars market plans, and technology. We have also mentioned strength and weaknesses of the Self-Driving Cars market alongside the competitive benefits which improves productivity and efficiency of the companies.