Autonomous Vehicles Market by Regions, Companies, Forecast By 2030

Autonomous Vehicles Market is expected to be USD 325.9 Billion by 2030. Global Forecast by Driverless Car Levels (L3, L4, L5), Hardware, Software, Regions, Company Analysis.
By: Renub Research
 
ROSWELL, Ga. - Feb. 18, 2021 - PRLog -- Driverless cars are also known as Autonomous Vehicles, Self- driving cars, robotics cars. In the upcoming year, the automated vehicle will change the fundamentals of transportation. Technological advancement in vehicles will avoid the risk of accidents, energy consumption, insurance cost and environmental effect for avoiding traffic jams to a great extent. According to this report, Global Autonomous Vehicles Market is expected to be USD 325.9 Billion by the end of the year 2030.

Self-driving cars are an automated car that will drive like any traditional cars. However, the significant difference will be autonomous vehicles are driven by digital technology without any human interference. Driverless assistance systems use AI technology. Self–driving car work relies on a combination of different technologies such as RADAR (Radio Detection and Ranging), LiDAR (Light Detection and Ranging), cameras and V2X (vehicle-to-everything) communications. Each of these hardware components has its strength and limitations. According to Renub Research, Worldwide Driverless Cars Market will be USD 10.1 Billion this year 2021.

Google and Apple are some big company working in the driverless car domain industry with advance software. In 2016, Google named its self-driving car as Waymo. Along with the camera, LiDAR, and radar sensor, Google car has a microphone to detect siren from emergency vehicles. In 2019, apple acquired self–driving startup Drive.ai, which was once, valued at USD 200 Million in 2017.

Developed countries say the United States, Europe will capture more share in the global self-driving car market. These countries spending on digital infrastructure will further boost the driverless car market over time. Self Driving Cars' future has a very bright, as we expect it to grow with a staggering CAGR of 41.57% from 2021 to 2030.

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Tags:Autonomous Vehicles Market
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