Autonomous Cars Market is expected to generate a revenue of USD 15.55 Billion by 2030, Globally, at 31.19% CAGR: Verified Market Research®

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Feb 03, 2023, 11:00 ET

The market report is a good combination of qualitative and quantitative data that highlights significant market changes, obstacles that business and the competition must overcome, as well as new possibilities and trends in the global Autonomous Cars Market

JERSEY CITY, N.J., Feb. 3, 2023 /PRNewswire/ -- Verified Market Research® recently published a report, "Autonomous Cars Market" By Type (Fully Autonomous Vehicles, Semi-Autonomous Vehicles), By Vehicles Type (Passenger Cars, Commercial Vehicles), and By Geography.

As per the deep research carried out by Verified Market Research®, the global Autonomous Cars Market size was valued at USD 1.35 Billion in 2021 and is projected to reach USD 15.55 Billion by 2030, growing at a CAGR of 31.19% from 2023 to 2030.

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Browse in-depth TOC on "Autonomous Cars Market"

202 - Pages
126 – Tables
37 – Figures

Global Autonomous Cars Market Overview

An autonomous vehicle is one that can drive itself without the need for human intervention. Various types of self-driving or autonomous vehicles are developed based on their level of automation. The level was defined by the Society of Automotive Engineers (SAE), and the US Department of Transportation has adopted six sets of them, ranging from Level 0 (fully manual) to Level 5. (fully autonomous). Autonomous vehicles rely on artificial intelligence (AI) and machine learning (ML) systems to "understand" their surroundings and respond to algorithms. Using computer vision functions in conjunction with actuators and sophisticated sensors, they create a constantly updated map of their surroundings that detects the presence of nearby vehicles and pedestrians, detects uneven surfaces on road sidewalks, and measures distances.

The primary driver of the market is the growing demand for connected cars that use the internet of things. Car drivers improve their performance by receiving real-time feedback from high-speed in-memory computing systems built into connected cars via the Internet of Things. Its built-in computers suggest collecting, analysing, and storing data to aid decision-making. The increasing adoption of connected cars boosts the market for autonomous and semi-autonomous vehicles. Another factor is the countries' growing development of smart cities, which focuses on growth from transportation infrastructure to smart cities. The increased development of smart cities is a factor driving the Autonomous Cars Market's growth.

Verified Market Research® narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The "Global Autonomous Cars Market" is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.

Key Players

The "Global Autonomous Cars Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are Nissan Motor Co. Ltd., Google Inc., General Motors Company, Uber Technologies Inc., Toyota Motor Corp., Volkswagen AG, Tesla Inc., Daimler AG, Volvo Cars, and BMW.

Based on the research, Verified Market Research® has segmented the global Autonomous Cars Market into Type, Vehicles Type, And Geography.

Autonomous Cars Market, by Type

Fully Autonomous Vehicles
Semi-Autonomous Vehicles

Autonomous Cars Market, by Vehicles Type

Passenger Cars
Commercial Vehicles

Autonomous Cars Market, by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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Leading self-driving car manufacturers sensing environment without human involvement

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