According to TMR’s estimations, the shipment volume of autonomous
cars will reach 0.60 mn units in 2025. Rising at a phenomenal CAGR of
47.50% during the period from 2025 to 2035, the shipment volume is
likely to increase to 29.31 mn units by the end of the forecast
period. Level 3 autonomous cars are likely to witness the most
prominent demand across the world during that period.
Browse The Press Release:
http://www.transparencymarketresearch.com/pressrelease/autonomous-cars-driverless-cars-market.htm
With
Comparatively Faster Adoption of Autonomous Cars, North America to
Take Lead
The geographical analysis of the global market for autonomous cars
has also been provided in this research study. Analysts have
considered North America, Europe, Asia Pacific, South America, and
the Middle East and Africa as the main regional markets for
autonomous cars. As North America is anticipated to experience a
comparatively faster uptake of autonomous cars, it is likely to
witness a higher growth rate than other regional markets during the
forecast period.
Asia Pacific is also expected to exhibit steady growth in the demand
for autonomous cars during that period on account of the rising
awareness among consumers pertaining to the advancements in
technology and the substantial upswing in their disposable income. In
this region, the level 3 autonomous cars are anticipated to account
for the most prominent share of total demand volume, thanks to the
forthcoming infrastructural development in the information and
communication sector in China, Singapore, and Japan.
Apart from this, the Asia Pacific market for autonomous cars is also
projected to gain significant impetus from the high population
residing here. Researchers predict economies with sharp increasing
geriatric population, such as Japan and China, will emerge to be the
early adopters of autonomous cars in Asia Pacific, states the
research study.
Technological Advancements and Rising Awareness about Benefits of
Autonomous Cars to Boost Market’s Growth
“With the constant innovation and update in technology, autonomous
cars are likely to be the next big thing across the world”, says
the author of this study. The significantly rising number of
accidents across the world is expected to fuel the adoption of
autonomous cars as they are supposed to be highly effective in
reducing the number of road accidents and make streets safer by
automating safety features. The advancements in technology are likely
to enable autonomous cars to save tens of thousands of lives every
year, lost to traffic accidents and fatalities due to the human
errors in judgment, which will eventually reflect on their sale in
the future.
Along with this, the seamless connectivity offered by autonomous
cars, which enable vehicles to ride closer together with the help of
sensors, allowing more cars on the road with less traffic and
reducing congestion, is also projected to add substantially to the
growth of this market in years to come. However, the lack of clarity
over laws and regulations may hinder the market to some extent, notes
the study.
This review is based on Transparency Market Research’s report,
titled “Autonomous Car Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2025 – 2035”.
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TMR’s global and regional market intelligence coverage includes
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others. Each TMR research report provides clients with a 360-degree
view of the market with statistical forecasts, competitive landscape,
detailed segmentation, key trends, and strategic recommendations
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