Autonomous Vehicle Report Size Analysis 2027

Autonomous vehicle or self-driving car or driverless car is a modern car design capable of sensing and reading the environment, and working
without human intervention. A lot of major players are currently contributing to the development of semi-autonomous and fully autonomous
vehicles. Companies since the 1980's have been working on various projects to make the autonomous vehicle a reality. All prototypes are
currently being tested in various automobile companies, universities research centers. Policy funding, supportive regulatory environment and
digital infrastructure investments are likely to play a key role in the forecast period positively influencing the growth of the autonomous car
industry. The industry has a wide variety of systems and goods which make up the autonomous architecture of the vehicles.
Autonomous vehicles allow non-drivers, as well as people with certain disabilities, to have independent mobility. They make it easier and more
flexible for travelers to read, rest or even work while travelling, thereby enhancing their efficiency. They can also reduce the cost to commercial
vehicles and taxis for the driver fee. Other benefits like decreased risk of collisions, improved protection, and increased road ability are
contributing significantly to these vehicles since its introduction in the market.
Growing safety concerns and advances in automotive technology have led the governments of countries like Germany, U.S., China, and
Japan to accept and penetrate autonomous vehicles, among others. Such factors are likely to fuel the growth of the market for
autonomous vehicles over the forecast period. Many governmental agencies are taking different steps in their countries to introduce
autonomous vehicles. For instance, in February 2018, the European Union (EU) announced the implementation plan for multi-brand
truck platooning on European roads together with the ENSEMBLE consortium and TNO, the Netherlands organization for applied
scientific research. The platooning of multi-brand trucks will allow for a single truck to form a connected convoy with other trucks.
These policies will boost the economy, reduce EU carbon-dioxide emissions and increase the efficiency of traffic. Vehicle
Market
Segmentation Analysis
The global market for the autonomous vehicle is segmented into level of automation, component, application, type and region.
By Component:
Based on component, the market for autonomous vehicle is segmented into software, hardware, and services. The software segment
is likely to grow at high CAGR in the forecast period. In this the artificial intelligence market is expected to be the largest for
autonomous vehicles, since it will be the vehicle's brain. Compared with other segments, its contribution will be the largest.