Autonomous Vehicle Market Expected to Raise Moderately over 2027

Market Synopsis

The elements responsible for the expansion of Autonomous Vehicle Market 2020 are the government’s rules related to safety, increased demand for developed driver assisted systems in vehicles increasing sales of vehicles, and others. The vehicle manufacturers are innovating new technologies to evolve the vehicle safety system and intelligent transport system. Owing to the increased accidents across the globe, the demand has increased considerably. The crucial factors which help in the expansion of the market are the increased number of government mandates, at a global level, for developed driver-assistance systems (ADAS) features and the including the basic safety systems like anti-lock braking systems (ABS), and airbags. Moreover, the rise in the adoption of advanced safety systems and driver assistance features like blind-spot identification, and automatic emergency braking at cheaper costs are estimated to propel the growth of the autonomous vehicle ECU market. To lessen the accidents happening daily, the monitoring bodies of several regions like Europe are making it a compulsion to install the advanced safety system and anti-lock braking system in vehicles, which helps in the expansion of the market.

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The key factor which drives the market is the increased number of accidents due to human carelessness. Therefore, the automotive ecosystem is promoting the usage of the adoption of semi-autonomous vehicles and will eventually shift towards autonomous automobiles vehicles which are free of human errors. The increase in the sales of vehicles, across the world will lead to a high demand for autonomous vehicle ECU in the market. However, the concerns of cybersecurity issues such as cybersecurity risk and legal obstructions in autonomous vehicles will hamper the expansion of the market.

Global Autonomous Vehicle Market Segmentation

The global autonomous vehicle market can be classified on the basis of application, vehicle type, and region.

On the basis of application, the global autonomous vehicle market can be classified into a semi-autonomous vehicle and autonomous vehicles.

On the basis of vehicle type, the global autonomous vehicle market can be classified into the passenger car, light commercial vehicle, and heavy commercial vehicle.

On the basis of region, the global autonomous vehicle market can be classified into North America, Europe, Asia-Pacific and the Rest of the World (Row).

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Autonomous Vehicle Market Regional Analysis

On the basis of region, the global autonomous vehicle market can be segregated into North America, Asia-Pacific, Europe and the Rest of the World (Row).

North America is estimated to lead the global autonomous vehicle market during the review period. The rise in the sales of automobiles in North America and issues concerning vehicle safety will drive the market and acquire the highest market share during the review period. In the forthcoming period, government regulations within the North American nations are estimated to become more stringent with the rules.

The APAC region is estimated to be the second-largest market during the review period due to an increase in the sales of luxury vehicles, an increase in GDP and an increase in the purchasing power of users. The region is a potent land and consists of several markets that are already technologically developed such as India, China, and Japan. The development of automotive technologies will lead to the expansion of the market during the review period.

Global Autonomous Vehicle Market Key Players

The prominent players in autonomous vehicle ECU market are Hitachi, Ltd. (Japan), Continental AG (Germany), Intel Corporation (U.S.), Renesas Electronics Corporation (Japan), Nvidia Corporation (U.S.), ZF Friedrichshafen AG (Germany), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), Autoliv Inc. (Sweden) and Bosch (Germany) are among others.

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