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Autonomous Vehicle Market to Grow US$ 560 Billion by 2027

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The global Autonomous Vehicle market size is expected to surpass around US$ 560 billion by 2027 and the market is expected to garner growth at a CAGR of 63.5% over the forecast period 2021 to 2027.

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Growth Factors

Autonomous vehicle was the most awaited technology in the field of automobile due to everyday increasing road accidents and increasing need for driver assistance technologies. Government initiatives influencing the adoption of these vehicles in compliance with their plan to reduce the harmful gas emission from vehicles significantly drives the market growth for autonomous vehicles. The government of some regions such as Europe and North America also offer incentives to the public for the purchase of electric and hybrid vehicles. Hybrid and electric vehicles are the most important example of autonomous cars. Furthermore, significant investments for the transportation infrastructure development along with rising disposable income in the developing regions are positively influencing the rising demand for autonomous vehicles in the coming years. However, the high cost of components for the autonomous vehicles may restrict the market growth in the under developed or developing nations.

Market Report Scope

Report Highlights Details
Market Size USD 560 Billion by 2027
Growth Rate CAGR of 63.5% from 2021 to 2027
Largest Market Asia Pacific
Fastest Growing Market North America
Base Year 2021
Forecast Period 2021 to 2027

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Market Overview

A recent study by Precedence Research on the Autonomous Vehicle market offers a forecast for 2021 and 2027. The study analyzes crucial trends that are currently determining the growth of the Autonomous Vehicle market. This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of Autonomous Vehicle. The study also provides the dynamics that are responsible for influencing the future status of the Autonomous Vehicle market over the forecast period.

A detailed assessment of the Autonomous Vehicle market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the Autonomous Vehicle market along with their product portfolio enhances the reliability of this comprehensive research study.

Report Highlights

  • North America dominated the global autonomous vehicle market with significant revenue share in 2019 and projected to grow at an explicit growth rate during the forecast period. This is attributed to significant amendments made by the governing bodies in the traffic regulations to support the autonomous vehicle on public road.
  • Europe predicted to encounter the most lucrative growth rate for autonomous car market in the coming years owing to shifting consumer preference towards automated product along with rising adoption of autonomous vehicles. For instance, in 2018, UK government announced a jurisdiction to permit autonomous vehicles on any public road without the requirement of extra insurance or permits.
  • The Asia Pacific expected to flourish rapidly in the autonomous vehicles market during the analysis period owing to fast adoption of green mobility, as well as rising trend of mobility as a service in the region. China, India, Japan, and other ASEAN countries are significantly adopting the advanced mobility solution that helps government in their plan for reduced carbon emission and healthy environment in the near future.
  • By application, the global autonomous vehicles market is dominated prominently by the transportation segment owing to rapid adoption of advanced vehicles for personal and commercial applications. Furthermore, government initiative for promoting shared mobility and battery powered vehicle adoption drives the growth of the segment. However, defense segment also seeks lucrative growth over the analysis period due to rising adoption of autonomous technology in defense vehicles.
  • North America is the most promising region and the market leader in the global autonomous vehicle market in 2019. Prior acceptor of advanced technologies and vehicle advancement are the prime factors contributing significantly towards the regional growth. In addition, the rising volume for semi-autonomous cars in the region especially in USA and Canada are likely to boost the market growth. Moreover, increasing investment from technology innovators such as Microsoft, Google, and Delphi automotive are likely to project the region as the prime adopter of autonomous vehicles followed by Europe and Asia Pacific.

OBJECTIVES OF THE STUDY

  • To analyze and forecast the electric motor market, in terms of value and volume
  • To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To define, segment, and project the size of the global electric motor market on the product type, end-use and other segments
  • To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
  • To strategically analyze micro markets with respect to individual growth trends, growth prospects, and their contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To strategically profile key players and comprehensively analyze their core competencies
  • To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the electric motor market

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Major Players Covered in this Report

The updated market research report on electric motor market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Major key players operating in the market are

  • BMW AG
  • Audi AG
  • Ford Motor Company
  • Daimler AG
  • Google LLC
  • General Motors Company
  • Nissan Motor Company
  • Honda Motor Co., Ltd.
  • Toyota Motor Corporation
  • Tesla
  • Volvo Car Corporation
  • Uber Technologies, Inc.
  • Volkswagen AG

Segments Covered in the Report

By Application

  • Defense
  • Transportation
    • Commercial transportation
    • Industrial transportation

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Why should you invest in this report?

If you are aiming to enter the global Autonomous Vehicle market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Autonomous Vehicle are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027, so that you can plan your strategies to enter this market accordingly. Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Autonomous Vehicle Market, By Product

7.1. Autonomous Vehicle Market, by Product Type, 2020-2027
7.1.1. Defense
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Transportation
7.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Autonomous Vehicle Market, Regional Estimates and Trend Forecast

8.1. North America
8.1.1. Market Revenue and Forecast, by Product (2016-2027)
8.1.2. U.S.
8.1.3. Rest of North America
8.1.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.2. Europe
8.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.2.2. UK
8.2.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.2.3. France
8.2.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.2.4. Rest of Europe
8.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
8.3. APAC
8.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.3.2. India
8.3.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.3.3. China
8.3.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.3.4. Japan
8.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
8.3.5. Rest of APAC
8.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
8.4. MEA
8.4.1. Market Revenue and Forecast, by Product (2016-2027)
8.4.2. GCC
8.4.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.4.3. North Africa
8.4.3.1. Market Revenue and Forecast, by Product (2016-2027)
8.4.4. South Africa
8.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
8.4.5. Rest of MEA
8.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
8.5. Latin America
8.5.1. Market Revenue and Forecast, by Product (2016-2027)
8.5.2. Brazil
8.5.2.1. Market Revenue and Forecast, by Product (2016-2027)
8.5.3. Rest of LATAM
8.5.3.1. Market Revenue and Forecast, by Product (2016-2027)

Chapter 9. Company Profiles

9.1. BMW AG
9.1.1. Company Overview
9.1.2. Product Offerings
9.1.3. Financial Performance
9.1.4. Recent Initiatives
9.2. Audi AG
9.2.1. Company Overview
9.2.2. Product Offerings
9.2.3. Financial Performance
9.2.4. Recent Initiatives
9.3. Ford Motor Company
9.3.1. Company Overview
9.3.2. Product Offerings
9.3.3. Financial Performance
9.3.4. Recent Initiatives
9.4. Daimler AG
9.4.1. Company Overview
9.4.2. Product Offerings
9.4.3. Financial Performance
9.4.4. Recent Initiatives
9.5. Google LLC
9.5.1. Company Overview
9.5.2. Product Offerings
9.5.3. Financial Performance
9.5.4. Recent Initiatives
9.6. General Motors Company
9.6.1. Company Overview
9.6.2. Product Offerings
9.6.3. Financial Performance
9.6.4. Recent Initiatives
9.7. Nissan Motor Company
9.7.1. Company Overview
9.7.2. Product Offerings
9.7.3. Financial Performance
9.7.4. Recent Initiatives
9.8. Honda Motor Co., Ltd.
9.8.1. Company Overview
9.8.2. Product Offerings
9.8.3. Financial Performance
9.8.4. Recent Initiatives
9.9. Toyota Motor Corporation
9.9.1. Company Overview
9.9.2. Product Offerings
9.9.3. Financial Performance
9.9.4. Recent Initiatives
9.10. Tesla
9.10.1. Company Overview
9.10.2. Product Offerings
9.10.3. Financial Performance
9.10.4. Recent Initiatives
9.11. Volvo Car Corporation
9.11.1. Company Overview
9.11.2. Product Offerings
9.11.3. Financial Performance
9.11.4. Recent Initiatives
9.12. Uber Technologies, Inc.
9.12.1. Company Overview
9.12.2. Product Offerings
9.12.3. Financial Performance
9.12.4. Recent Initiatives
9.13. Volkswagen AG
9.13.1. Company Overview
9.13.2. Product Offerings
9.13.3. Financial Performance
9.13.4. Recent Initiatives

Chapter 10. Research Methodology

10.1. Primary Research
10.2. Secondary Research
10.3. Assumptions

Chapter 11. Appendix

11.1. About Us
11.2. Glossary of Terms

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Janet Edward

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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