The Global Self Driving Cars and Trucks Market size is estimated to be USD 0.90 Billion in 2019 and is predicted to reach USD 2.64 Billion by 2030 with a CAGR of 10.2% from 2020-2030. Self Driving Cars and Trucks are autonomous vehicles consist of various radars and sensors which makes them self driving and it does not require human driver to control and operate the vehicle. In self driving mode there is no need of constant manage the acceleration, braking and steering due to the advance sensors and radars which makes the complete operation automatic.
Market Dynamics and Trends
There has been technological advancement in the automobile industry which has proliferated the self driving cars and trucks market. Moreover, there is an increase in urbanization and also increase in traffic and air pollution which are also expected to accelerate the growth of self driving cars and trucks market over the forecast period.
There are various others factors which are driving the growth of self driving cars and trucks market include increase in demand of commercial vehicles, changing lifestyle and high standard of living. However, increase in safety and security concern with regards to the information of operating software and high development cost of these vehicles are expected to hinder the growth of self driving cars and trucks market. On the other hand increase in research and development coupled with innovation of new products in the field of automotive industry is expected to create opportunities in the self driving cars and trucks market in the near future.
Market Segmentations and Scope of the Study:
The global self driving cars and trucks market share is analyzed on the basis of component, target disease, and geography. On the basis of component, the market is segmented into light detection and ranging (LIDAR) sensor, ultrasound sensor, video cameras, central computing system, radar sensor, and GPS navigation system. On the basis of autonomy level, the market is divided into level one, level two, level three, and level four. On the basis of application, the market is divided into logistics, construction & manufacturing, mining, and port. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America is expected to account for the major market share in the self driving cars and trucks market over the forecast period owing to the presence of develop economies. Furthermore, increased adoption of advanced technology and increase in innovation and changing lifestyle are expected fuel the of self driving cars and trucks market.
It is expected that the emerging economies in the Asia Pacific region are develop rapidly with the gradual increase in market size due to the presence of developing technology and increased adoption of advanced technology and innovative products with the rapidly developing automotive industry.
The self driving cars and trucks market is high competitive and fragment in nature due to the presence of various market players with substantial market size. Some of the key players include Google LLC, Nissan Motor Company, General Motors, Honda Motor Corporation, Daimler AG (Mercedes Benz), Volkswagen AG, BMW AG, Volvo Car Corporation, Audi AG, Toyota Motor Corporation, Tesla, Inc. and , Ford Motor Company among others
There has been various recent developments taken place in the market which led to the increase in market size. For instance, In August 2019, Pony.ai has announced that it will collaborate with Toyota to explore “safe” mobility services involving driverless technology across a range of segments and industries. The two companies said they’ll collaborate on a pilot program in September on public Beijing and Shanghai roads to “accelerate the development and deployment” of autonomous vehicles, using Lexus RX vehicles and Pony.ai’s driving system.
- The self driving cars and trucks market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the self driving cars and trucks market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the self driving cars and trucks market is provided in the report.
- The competitive analysis of the market players along with their market share in the global self driving cars and trucks market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
- Global Self Driving Cars and Trucks market – By Component
- Light Detection and Ranging (LiDAR) Sensor
- Ultrasound Sensor
- Video Cameras
- Central Computing System
- Radar Sensor
- GPS Navigation System
- Global Self Driving Cars and Trucks market – By Autonomy Level
- Level One
- Level Two
- Level Three
- Level Four
- Global Self Driving Cars and Trucks market – By Application
- Construction & Manufacturing
- Global Self Driving Cars and Trucks market –By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of RoW
- North America