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Technological Advancement in Automation Industry Drives the Global Self-Driving Car Market



Global Self-Driving Car Market Report, published by Variant Market Research, forecast that the global market is predictable to attain $20 billion by 2024; growing at a CAGR of 25.7% from 2016 to 2024.

Increase in number of road accidents, rising demand for automation, technological advancement in the ever-increasing automation industry are some of the major factors driving the global self-driving car market. However, lack of proper setup supporting automated cars and risk associated with privacy & security may restrict the market growth. Although, majority of the manufacturers have showed an acute interest in manufacturing, developing & commercializing self-driving cars which will definitely provide growth opportunities for the global self-driving car market in the coming years.

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The global self-driving car market is majorly classified into components, and geography. Wherein, the component segment comprises of software, hardware, Lidar, radar, optical cameras, and others. Within the component segment, software component is projected to grip major market share during the forecast period, driven by increasing high-tech improvement in software segment such as advanced driver assistance systems to enhance safety and driving process.

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By geography, the market is categorized into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Among which, North America is predictable to hold the majority share of the market holding about 40%; mounting at the fastest CAGR during the forecast period i.e. 2016-2024, driven by, the early adoption and the existence of key market players in this region such as General Motors, Ford and Tesla. However, Asia Pacific is projected to witness substantial growth rate; being driven by China, Japan, India and South Korea during the forecast period.

The key players of the market are Google Inc., Audi AG, BMW AG, Apple Inc., Toyota Motor Corporation, Volkswagen, Tesla Motors, Inc., Ford Motor Company, Daimler AG, Dutch Automated Vehicle Initiative (DAVI), Volvo Group, Nissan Motor Company, and Baidu Inc., among others.

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Scope of Self Driving Cars Market

Component Segments

• Hardware
• Software
• optical cameras
• Lidar
• Radar
• Other

Geographical Segments

• North America
o US
o Canada
o Mexico

• Europe
o Germany
o France
o United Kingdom
o Spain
o Others

• Asia-Pacific
o China
o India
o Japan
o South Korea
o Others

• RoW
o South America
o Middle East
o Africa

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

For further information, visit https://www.variantmarketresearch.com
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News Release: Technological Advancement in Automation Industry Drives the Global Self-Driving Car Market
Submitted on: September 14, 2017 09:54:58 AM
Submitted by: Bhavana Patel
On behalf of: https://www.variantmarketresearch.com/report-categories/automotive/self-driving-car-market
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