QY Research has published a new report on the global autonomous cars market. The global autonomous cars market was valued at US$ 2327 million in 2021 and it is expected to reach US$ 1830433 million by the end of 2030, growing at a CAGR of 109.77% during 2021-2030.
An autonomous car is a vehicle capable of sensing its environment. To set agreed-upon standards early in the transition to autonomous vehicles, the Society of Automotive Engineers (SAE) developed a classification system which defines the degree of autonomy by which a vehicle operates. Ranging from levels zero to five, the driving automation spectrum begins with manually controlled vehicles and ends with completely driverless chariots.
Global Autonomous Cars Market- Key Players
Cruise LLC (General Motors), Waymo (Google), BMW, Ford, Honda, Daimler (Mercedes-Benz), Audi (Volkswagen), Toyota, Apollo (Baidu), Motional (Hyundai) are some of the key players, functioning in the global Autonomous Cars market. Presently, there are just a few companies are engaged in the industry with small business size as the industry is emerging.
It’s been a few years and autonomous vehicles are, alas, still in the future. Right now, there is no car on sale that can drive itself without requiring the driver to pay attention to the road and be prepared to take control of the vehicle. In fact, some automakers have slowed down their timelines.
Although there are still many disputes on autonomous cars, the market potential of it is great. Many car makers never stop their step on research and developing .
Global Autonomous Cars Market: Segmental Analysis
L3 and L4-L5 are analyzed in the report. According to QY Research, presently, there are mainly L3 autonomous cars on the market while L4-L5 cars haven’t achieved commercial production at the moment. However, in the future, L4-L5 will exceed L3 and become the largest segment.
Global Autonomous Cars Market: Regional Analysis
North America, Europe, China, Japan are analyzed in the report. North America and Europe are the largest sales market of autonomous cars at the moment while China has greatest potential in the future.
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