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    Autonomous Cars Market Report

    Autonomous Cars Market Report
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    Autonomous Cars Market Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026
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    Impact of COVID-19 on Autonomous Cars Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Autonomous Cars Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    Autonomous Cars Market is likely to witness a robust CAGR of more than 22.0%, during the forecast period. The global market is significantly propelled by the increasing integration of digitization in the modern-day vehicles, supportive government initiatives, emphasis on vehicular safety, and policies for vehicular automation. Also, in the recent years, a number of automobile manufacturers have contributed to the development of either semi-autonomous or fully autonomous cars and they are actively engaged in the integration of automation features in the vehicles, which has immensely fueled the market growth. One of the major factors responsible for the market growth is the norms & regulations set by the government, w.r.t passenger safety. Also, the mounting number of vehicular accidents globally, boost the demand for autonomous vehicles. Apart from the government support, there has been a surging demand for the advanced driver assistance systems (ADAS) in vehicles, which has resulted in accelerating the market progress. These factors are the primary drivers of the market, which have amplified the overall traction of the market.

    Autonomous Cars Market – Snapshot

    Growth

    >22.0% for the next five years

    Major Level of Autonomy

    Level 1

    Dominant Type

    Internal Combustion Engine (ICE) Vehicle

    Region with the highest demand

    Europe

    Key Players

    BMW AG, Robert Bosch GmbH, Daimler AG, Ford Motor Company, Honda Motor Co., Ltd., Hyundai Motor Company, Tesla, TOYOTA MOTOR CORPORATION, Volkswagen, and Volvo Car Corporation

    Segment Analysis

    Autonomous-Cars-Market-Dominant-Segments

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    Autonomous Cars Market Share: By Level of Autonomy

    Based on the level of autonomy, the market is segmented into Level 1, Level 2, Level 3 and Level 4. In 2020, Level 1 cars accounted for a large share of the overall market. With the growing demands for vehicular and driver/passenger safety concerns, several governments are charting out initiatives to improve the safety of cars. In various countries, they are encouraging consumers to use advanced driver assistance systems (ADAS). As a result, a number of automobile manufacturers have engaged in the integration of Level 1 automation in their vehicles. Moreover, Level 4 cars haven’t been launched in the market yet and are still under the R&D phase. Therefore, there is a significant demand for Level 1 cars currently.

    Autonomous Cars Market Share: By Type

    Based on the type, the market is segmented into internal combustion engine (ICE) vehicle, hybrid electric vehicle (HEV), and battery electric vehicle (BEV). As of 2020, the cars propelled by ICE are leading the global autonomous cars market, with the largest market share. Although, there has been a high demand for electric vehicles in the recent years, there is still a strong demand for ICE-propelled cars in the developing economies such as India, China, South Africa, Indonesia, and Brazil, among others. Also, the necessary infrastructure for electric vehicles is not adequate in developing countries, which in turn, increases the demand for ICE-propelled vehicles. Hence, it is estimated that the internal combustion engine (ICE) vehicle market sub-segment would gain the maximum traction and grow steadily during the forecast period.

    Autonomous Cars Market Share: By Region

    In terms of regions, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the world. Among these regions, Europe is expected to have dominance in the market for autonomous cars throughout the forecast period. The region is home to several leading automobile manufacturers across the globe, such as Daimler AG, BMW AG, Volkswagen, and Volvo Car Corporation, among others. The market in the region is largely driven by extensive investments of car manufacturers along with the supportive government initiatives for the market. In addition, several European countries such as Germany, the UK, and France, have already promoted the use of the autonomous cars on the roads and highways. North America and Europe are also expected to offer considerable growth opportunities over the forecast period.

    Autonomous-Cars-Market-By-Region

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    Market Scope & Segmentation

    Autonomous cars are referred to vehicles capable of sensing their environment and moving safely with minimal or no human aid. These cars use several sensors such as GPS, LIDAR, and RADAR, among others, in order to perceive their respective surroundings.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Autonomous Cars Market Research Report - Features

    Market Segmentation

    3

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The autonomous cars market is segmented into the following categories. 

    Autonomous Cars Market Size, Share, & Forecast, by Level of Autonomy:

    • Level 1 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Level 2 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Level 3 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Level 4 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Autonomous Cars Market Size, Share, & Forecast, by Type:

    • Internal Combustion Engine (ICE) Vehicle (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Hybrid Electric Vehicle (HEV) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Battery Electric Vehicle (BEV) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Autonomous Cars Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Autonomous-Cars-Market-Segmentation

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    Key Players

    Some of the key players in the autonomous cars market are-

    • BMW AG
    • Robert Bosch GmbH
    • Daimler AG
    • Ford Motor Company
    • Honda Motor Co., Ltd.
    • Hyundai Motor Company
    • Tesla
    • TOYOTA MOTOR CORPORATION
    • Volkswagen
    • Volvo Car Corporation.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation by any one of the types by level of autonomy.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]

    Frequently Asked Questions (FAQs)

    The autonomous cars market is expected to witness an impressive growth of 22.0% CAGR in the foreseeable future.

    BMW AG, Robert Bosch GmbH, Daimler AG, Ford Motor Company, Honda Motor Co., Ltd., Hyundai Motor Company, Tesla, TOYOTA MOTOR CORPORATION, Volkswagen, and Volvo Car Corporation are among the key players in the autonomous cars market.

    Europe is expected to remain dominant in the autonomous cars market during the forecast period.

    Internal combustion engine (ICE) vehicle market sub-segment is expected to gain maximum traction in the autonomous cars market in the coming years.

    The increasing integration of digitization in the modern-day vehicles, supportive government initiatives, emphasis on vehicular safety, and policies for vehicular automation are the factors driving the growth of autonomous cars market.

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