The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The autonomous cars market has undergone rapid expansion, surging from $1047.13 billion in 2023 to $1176.95 billion in 2024, reflecting a CAGR of 12.4%. The growth in the historical period is attributed to emerging markets growth, widespread adoption of connected cars, increasing demand for driverless vehicles, rising occurrences of vehicle theft, and a heightened focus on road safety. Anticipated for the forecasted period is a sustained rapid growth trajectory, reaching $1851.15 billion in 2028 at a CAGR of 12.0%. Factors contributing to this growth include escalating research and development investments for self-driving vehicles, supportive government initiatives, a growing demand for electric vehicles, rising concerns about vehicle safety, and increasing urbanization. Key trends in the forecast period involve investments in artificial intelligence, collaboration with telecom service providers for 5G network infrastructure, investment in cybersecurity software, partnerships with taxi services, integration of improved vision solutions, utilization of augmented and virtual reality technologies, and a focus on pre-collision assist and pedestrian detection technology.

The growth of the autonomous cars market is propelled by the rise in smart city development. Electric autonomous cars contribute to pollution reduction in smart cities and combat climate change. The adoption of driverless cars is expected to decrease traffic accidents by 90%, enhancing road safety. Countries like Mexico, Canada, and the United States are actively deploying digital infrastructure to facilitate communication between vehicles and networks, reducing traffic congestion and further boosting the autonomous cars market.

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What Are The Key Trends That Influence Autonomous Cars Market Share Analysis?

Full automation vehicles represent a significant trend in the autonomous cars market. These vehicles can perform all driving functions under all conditions and are being developed for applications like Robo-taxis. Companies like Waymo are at the forefront of this technology. The progression from no automation, where a fully engaged driver is required, to full automation, where the vehicle operates independently, is expected to enhance U.S. roadways. Tesla has announced plans to provide a software update for full autonomy by late 2019 or early 2020, with Wired reporting that Tesla vehicles will achieve full autonomy by the end of 2020.

Which Market Players Are Driving Growth In The Autonomous Cars Market?

Major companies operating in the autonomous cars market report are Toyota Motor Corporation, Volkswagen AG, The Mercedes-Benz Group AG, Ford Motor Company, General Motors Company, BMW AG, Honda Motor Co. Ltd., Nissan Motor Co. Ltd., Volvo Car Group, Tesla Inc., Hyundai Motor Company, Audi AG, PSA Group, Renault, Jaguar Land Rover, NIO, Daimler AG, Vauxhall, Kia, Haval, Chevrolet, Fiat

How Is The Global Autonomous Cars Market Segmented?

The autonomous cars market covered in this report is segmented –

1) By Automation Level: Level 1, Level 2, Level 3, Level 4, Level 5
2) By Product Type: Semi-Autonomous Vehicles, Fully-Autonomous Vehicles
3) By Application: Civil, Robo Taxi, Offline Taxis, Ride Hail And Ride Sharing, Other Applications

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The Autonomous Cars Global Market Report 2024 provides an overview of the autonomous carsmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The autonomous cars market forecast analyzes autonomous cars market size, autonomous cars market share, leading competitor and their market positions.

The Table Of Content For The Autonomous Cars Market Include

1. Autonomous Cars Market Executive Summary
2. Autonomous Cars Market Segments
3. Autonomous Cars Market Size And Template Market Growth Rate
4.  Key Autonomous Cars Market Trends
5. Major Autonomous Cars Market Drivers
……
25. Key Mergers And Acquisitions In The Autonomous Cars Market
26. Top Autonomous Cars Companies
27. Autonomous Cars Market Opportunities And Strategies
28. Autonomous Cars Market, Conclusions And Recommendations
29. Appendix

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