WESTFORD, Mass., July 17,
2024 /PRNewswire/ -- According to SkyQuest, the
global Autonomous/Self Driving Vehicle Market size was valued
at USD 37.8 Billion in 2022 and is
poised to grow from USD 52.09 Billion
in 2023 to USD 677.23 Billion by
2031, at a CAGR of 37.8% during the forecast period
(2024-2031).
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During the projection period, it is anticipated that government
funding, a legislative environment that is favorable, and
investments in digital infrastructure would all favorably promote
the demand for autonomous cars. Additionally, it enables both
non-drivers and those with disabilities to have independent
mobility. They provide a great deal of comfort and flexibility so
that you can work, read, or even rest while travelling, which
increases productivity. Autonomous automobiles have also been
introduced by growing technological innovation and diversity in the
automotive sector. In the automotive sector, autonomous vehicles
are a significant technological advancement after the launch of
electric and hybrid vehicles.
Download a detailed
overview:
https://www.skyquestt.com/sample-request/autonomous-vehicles-market
Autonomous/Self Driving Vehicle Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$52.09
Billion
|
Estimated Value by
2031
|
$677.23
Billion
|
Growth Rate
|
Poised to grow at a
CAGR of 37.8%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Autonomous Type,
Component, Vehicle Type, Mobility Type, Fuel Type, Stack Level,
Application and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Evolution of autonomous
vehicles, marking a significant advancement alongside electric and
hybrid vehicles
|
Key Market
Opportunities
|
Level 5 automation
promises reduced accident rates
|
Key Market
Drivers
|
Market growth to
fosters consumer trust in automated driving systems
|
Segments covered in Autonomous/Self Driving Vehicle
Market are as follows:
- Autonomous Type
- Semi-autonomous (Level 1, Level 2, Level 3), Fully Autonomous
(Level 4, Level 5)
- Vehicle Type
- Passenger Vehicle (Hatchbacks, Coupe & Sports Car, Sedan,
SUV, Others), Commercial Vehicle (Bus, Trucks, Others)
- Component
- LIDAR, RADAR, Ultrasonic Sensors, Infrared Sensors, Others
- Mobility Type
- Personal Mobility, Shared Mobility
- Fuel Type
- Battery Electric Vehicle, Hybrid Vehicle, Internal Combustion
Engine, Fuel Cell Electric Vehicle
- Stack Level
- Sensor technology, Vehicle Computing Platform, Perception
Engine
- Application
- Robotaxi, Individual Use, Military & Defense, Others
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report:
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Exploring the Spectrum from Level 0 to Level 5 in the Global
Autonomous Vehicle Market
Levels of automation, from Level 0 (no automation) to Level 5
(complete automation), are used to segment the global market for
autonomous and self-driving vehicles. Autonomous cars, or Level 5,
are essential for fully autonomous mobility and for improving
accessibility, safety, and efficiency in transportation systems
around the world. They operate without the need for human
involvement.
Semi-autonomous cars combine advanced driver assistance systems
with human control to improve driving safety and convenience.
Equipped with Level 2 and 3 automations, these vehicles are
indispensable as they put consumers on the road to complete
autonomy by introducing them to self-driving technologies and
building trust in global self-driving car markets.
Fully autonomous cars, or Level 5 automation, transform
transportation by improving accessibility, efficiency, and safety
while operating without human interference. They are expected to
reduce crash rates, alleviate traffic congestion, and provide
mobility solutions to non-drivers and people with disabilities, so
it stands to reason that the global autonomous vehicle industry
cannot do without these cars.
View report summary and Table of Contents
(TOC):
https://www.skyquestt.com/report/autonomous-vehicles-market
Rise of Body Electronics in the Automotive Semiconductor
Industry and Its Implications
Self-driving and autonomous cars are used in several industries,
such as public transportation, logistics, and passenger
transportation. Everywhere, they help reduce road accidents,
minimize traffic jams and upgrade operational efficiency. The next
thing is that they present top-notch means of movement, twixt
underprivileged categories as well as urban centres consequently
prompting industry growth.
In the worldwide automotive semiconductor industry, the body
electronics category is crucial since it includes systems like
keyless entry, lighting, and climate control. These semiconductors
make cars more convenient, safe, and comfortable. This is why their
market is continually developing because they are increasingly
integrated into modern cars which in turn has led to a higher
demand for advanced car or automotive electronics.
In the military sector, autonomous vehicles are critical since
they perform intricate combat functions, support logistics and
increase awareness which consequently alters defence strategies and
encourages growth in autonomous technology. In military and defence
industries, autonomous vehicles boost mission accomplishment rates,
decrease risks to human life and optimize performance.
Automotive Innovation Unleashed by Autonomous Mobility,
Semiconductor Excellence and Military Advancements
The transition of autonomous vehicles from Level 0 to Level 5
automation represents a paradigm shift in international
transportation. Autonomous vehicles promise improved mobility for
people without drivers' licences and those with disabilities,
increasing productivity and safety, thanks to government
investments in digital infrastructure and the creation of
supportive regulatory settings. The automotive industry's
technological advancements, in conjunction with the emergence of
advanced semiconductor technologies in body electronics, highlight
their crucial purpose in augmenting vehicle comfort and
functionality. Furthermore, autonomous vehicles rethink operating
techniques in military and defence applications, minimising human
danger and guaranteeing mission success.
Related Reports:
Autonomous Truck Market
Electric Vehicle Market
Autonomous Ships Market
Automotive IoT Market
Vehicle Telematics Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia
Pacific.
Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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SOURCE SkyQuest Technology