Dublin, Nov. 24, 2021 (GLOBE NEWSWIRE) -- The "Autonomous Vehicle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global autonomous vehicle market experienced robust growth during 2015-2020. Looking forward, the market is anticipated to grow at a CAGR of around 28% during 2021-2026.
Significant growth in the automotive industry, along with rapid digitization, represents one of the key factors creating a positive outlook for the market. Furthermore, the increasing requirement for safe and efficient mode of transportation is also driving the market growth. This has resulted to a growing preference among consumers for AVs with internet connectivity, safety alerts, automatic crash notifications and enhanced engine controls.
Additionally, various technological advancements, such as the integration of artificial intelligence (AI), robotics, machine learning (ML) and the Internet of Things (IoT), are acting as other growth-inducing factors. In line with this, AV manufacturers are also using efficient light detection and ranging (LiDAR) and radio detection and ranging (RADAR) sensing technology for extensive monitoring and generation of 3D maps of the surroundings.
Other factors, including the implementation of favorable government policies promoting auto-tech, along with innovations in connected vehicle technology and dynamic mobility applications, are anticipated to drive the market further.
Key Market Segmentation
The publisher provides an analysis of the key trends in each sub-segment of the global autonomous vehicle market, along with forecasts at the global, regional and country level from 2021-2026. The report has categorized the market based on region, component, level of automation and application.
Breakup by Component
Software and Services
Breakup by Level of Automation
Breakup by Application
Transportation and Logistics
Military and Defense
Breakup by Region
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
AUDI Aktiengesellschaft (Volkswagen Group)
Bayerische Motoren Werke AG
Ford Motor Company
Toyota Motor Corporation
Uber Technologies Inc.
Waymo LLC (Alphabet Inc.)
Key Questions Answered in the Report
How has the global autonomous vehicle market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global autonomous vehicle market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the level of automation?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global autonomous vehicle market and who are the key players?
What is the degree of competition in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/jtla8a
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