Autonomous Vehicles Market to Hit $65.5 Billion Globally, by 2027

Pune, Maharashtra — (SBWIRE) — 04/20/2017 — Market Scenario
Autonomous Vehicle or driverless car or self-driving car is a new concept of car, which is capable to reading and sensing the environment and operates without human input. Currently, many major players are contributing in the development of semi-autonomous and fully autonomous vehicles. Since, 1980s companies are working on various prototype to make the autonomous vehicle a reality. This market is expected to be US $65.3 billion by the end of forecast period (2016-2027). Currently all the prototypes are being tested in the R and D centers of various automobile company, universities and expected to launch the autonomous vehicles by 2020.

Market Segments
Global autonomous vehicles market has been segmented as follows:
– On the basis of sensors which comprises of ultrasonic, radar, lidar, image and other.
– On the basis of hardware and software the market is segmented into cameras, communication systems, and GPS systems.
– On the basis of type comprises of semi-autonomous vehicles and fully autonomous vehicles.

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Study Objective of Autonomous Vehicles Market
– To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Global Autonomous Vehicles Market
– To provide insights about factors affecting the market growth
– To analyze the Autonomous Vehicles market based on various factors- supply chain analysis, porter’s five force analysis etc.
– To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
– To provide country level analysis of the market with respect to the current market size and future prospective
– To provide country level analysis of the market for segment by sensor, by hardware & software, by type and sub-segments.
– To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
– To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Autonomous Vehicles Market.

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Key Players:
Some of the key players in this market are:
– Google (U.S.)
– General Motors (U.S.)
– Volkswagen (Germany)
– BMW (Germany)
– Ford Motor Company (U.S.)
– Baidu (China)
– Toyota (Japan)
– Tesla (U.S.)
– Audi (Germany)
– Jaguar (U.K.)

Intended Audience
– Car Manufacturers
– Technology Providers
– Car Component Manufactures
– Sensor Manufactures
– Software Developers
– OEMs in automotive Industry

Key Finding
– The global Autonomous Vehicles market and is expected to reach $65.3 billion by 2027.
– Radar Sensors are expected to be the fastest growing market with high CAGR of 29.2% between 2016 and 2027.
– Regionally, North America holds the largest market share 39.08% of global Autonomous Vehicles market and is expected to reach $24.40 billion by 2027 from $1.42 billion in 2015.
– Asia Pacific market is expected to be the fastest growing market, and expected to grow at a CAGR of 29.02% from 2016 to 2027

Regional Analysis of Autonomous Vehicles Market:
Globally, North America is the largest market for Autonomous Vehicles.
Europe is the second largest market for autonomous vehicle with market size of US $1.10 billion in the year 2015 but Asia-Pacific will become the second biggest market by the end of year 2027.
Due to the high technological advancement, Asia-pacific region is expected to be the fastest growing region globally, registering 29.2% CAGR during the forecast period.

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