The self-driving car market will reach $ 11.03 billion by 2028,

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Pune, India, August 23, 2021 (GLOBE NEWSWIRE) – The world self-driving car market The size was $ 1.45 billion in 2020. The market is expected to grow from $ 1.64 billion in 2021 to $ 11.03 billion in 2028 at a CAGR of 31.3% during the period 2021-2028. This information is provided by Fortune Business Insights â„¢ in its report titled “Autonomous Car Market, 2021-2028”. According to our researchers, the rapid development of sensor processing technologies, adaptive algorithms, high-definition mapping and the implementation of infrastructure-vehicle and vehicle-vehicle communication technologies reassure many companies to amplify their manufacturing capacities. and navigate vehicle automation to a high level.

Additionally, giant companies associated with automotive manufacturing are rapidly adopting artificial intelligence (AI) and machine learning (ML) technologies and implementing them in automotive manufacturing. For example, according to the Washington Post, Tesla cars, which were introduced as self-driving cars, feature the latest technologies such as the progressive hardware capability to offer autopilot programs and fully autonomous driving capabilities, via software updates intended to increase operations over time.

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Industry development

February 2020: Pony.ai, which is an autonomous driving company, has raised nearly $ 400 million from Toyota Motor Corporation to expand its collaboration in mobility services. The alliance is expected to improve autonomous driving technology, as well as the installation of mobility services.

Expanded implementation of the COVID-19 pandemic of self-managed automobiles

The health problems induced by COVID-19 have had a huge impact on the mobility and transport sector due to the fact that travelers are inclined to favor private modes of transport. In addition, changing purchasing practices due to COVID-19 has further prompted logistics and marketing to regulate according to fluctuating scenarios due to the growing importance of e-commerce. These aspects strongly influence the demand for autonomous vehicles among industries and customers.

Many customers have switched to e-commerce due to lockdown standards and other associated issues. For example, according to the Voice of the Industry, the COVID-19 analysis carried out by Euromonitor International in 2020 said that 54% of the population assessed specified a strategy to increase online spending forever, while 28% decided to definitively refuse visits to stores and stores physically.

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Cover of the report

The report offers valuable information obtained from a detailed study conducted by our researchers. Extensive research has been conducted to provide the estimated size of this market. The data used to project the shares of several segments nationally, regionally and globally are obtained from in-depth interviews with numerous investors. Additionally, we have been admitted into numerous globally and regionally funded databases to provide accurate material to facilitate business investment judgments for stakeholders.

Conductors and constraints

Extensive implementation of ADAS to improve market growth

Advanced Driver Assistance Systems (ADAS) help drivers through their artificial intelligence (AI) and various other innovative features, thus avoiding interruptions and reducing the burden on the driver. The rapid acceptance of progressive technologies in software algorithms, cameras, sensors, processors and mapping has improved the process of applying ADAS in automobiles. In addition, in the face of growing concerns for the protection and safety of cars, residents and pedestrians and to decrease the road fatality rate, automakers are integrating ADAS into cars, thus stimulating the growth of the self-driving car market.

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Focus on a key player on large-scale research and development activities

We often see crucial players applying effective schemes and strategies in order to conquer the market and establish themselves in their respective industries.

For example, Robert Bosch GmbH is an international player in the field of autonomous car technology. The provision of a greater variety of advanced driver assistance solutions and the expansion of autonomous vehicles for the era of intelligent and secure movement are the main ideas of the company. Likewise, the endless struggles of R&D carried out by the company result in the formation of advanced technologies, which are some of the substantial aspects responsible for the supremacy of the company.

Segmentation

On the basis of type, the market is separated into semi-autonomous and fully autonomous. The semi-autonomous car segment held 21.9% in 2020 in terms of autonomous car market share. The markets for semi-automatic and self-driving cars have been divided according to the degree of automation (at levels 1, 2 and 3, respectively).

List of key players covered by this market report

  • Autoliv Inc. (Stockholm, Sweden)
  • Aptiv (Dublin, Ireland)
  • Waymo LLC (California, United States)
  • Robert Bosch GmbH (Gerlingen, Germany)
  • Daimler AG (Stuttgart, Germany)
  • Baidu (Beijing, China)
  • AutoX, Inc. (California, United States)
  • Pony.ai (Fremont, CA, USA)
  • Ford Motor Company (Michigan, USA)
  • HYUNDAI MOTOR GROUP (Seoul, South Korea)
  • Volvo (Gothenburg, Sweden)

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Detailed table of contents:

  • introduction
    • Scope of research
    • Market segmentation
    • Research methodology
    • Definitions and assumptions
  • Abstract
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
  • Key ideas
    • Mergers, acquisitions and partnerships
    • Distributor analysis – For the main players
    • Growth and penetration analysis
    • Porter’s Five Forces Analysis
    • PEST analysis
  • 4.6 Impact of COVID-19
  • Global Self-Driving Car Market Analysis, Outlook and Forecast, 2017-2028
    • Main conclusions / Summary
    • Market Analysis, Information & Forecast – By Vehicle Type
      • Passenger cars
      • Commercial vehicles
    • Market Analysis, Information & Forecast – By Type
      • Fully autonomous
      • Semi-autonomous
    • Market analysis, information and forecasts – by region
      • North America
      • Europe
      • Asia Pacific
      • Rest of the world
  • North America Self-Driving Car Market Analysis, Outlook and Forecast, 2017-2028
    • Main conclusions / Summary
    • Market Analysis – By Vehicle Type
      • Passenger cars
      • Commercial vehicles
    • Market Analysis – By Type
      • Fully autonomous
      • Semi-autonomous
    • Market analysis – by country
  • Europe Self-Driving Car Market Analysis, Outlook and Forecast, 2017-2028
    • Main conclusions / Summary
    • Market Analysis – By Vehicle Type
      • Passenger cars
      • Commercial vehicles
    • Market Analysis – By Type
      • Fully autonomous
      • Semi-autonomous
    • Market analysis – by country
      • UK
      • Germany
      • France
      • The rest of europe

TOC Continued ……. !!!!!!!!!!!

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