Autonomous Vehicle Market Demand to Reach 4.2 Million Units by 2030

Grand View Research, Inc.

SAN FRANCISCO, April 6, 2020 /PRNewswire/ -- The global autonomous vehicle market demand is expected to reach 4.2 million units by 2030, expanding at a CAGR of 63.1% over the forecast period, according to a new report by Grand View Research, Inc. An autonomous vehicle is a combination of various networking systems and sensors that assist the computer in driving the vehicle. Several technology providers such as Google LLC and Tesla Motors have also entered the market and are contributing to the research and development of autonomous vehicles.

Key suggestions from the report:

• Demand for autonomous cars is expected to witness a rise in the coming years owing to increasing government regulations in various developed and developing nations
• Based on application, the transportation segment is expected to expand at the highest CAGR of 86.4% over the forecast period
• Countries including U.S., China, and Japan are expected to witness significant growth over the forecast period owing to the large-scale testing and adoption of autonomous cars or trucks in the transportation sector
• Audi AG; BMW AG; Daimler AG; Ford Motor Company; General Motors Company; Google LLC; Honda Motor Co., Ltd.; Nissan Motor Company; Tesla; Toyota Motor Corporation; Uber Technologies, Inc.; Volvo Car Corporation; Volkswagen AG are some of the key players in the self-driving vehicles market.

Read 100 page research report with ToC on "Autonomous Vehicle Market Size, Share & Trends Analysis Report By Application (Transportation, Defense), By Region (North America, Europe, Asia Pacific, South America, MEA), And Segment Forecasts, 2021 - 2030" at: https://www.grandviewresearch.com/industry-analysis/autonomous-vehicles-market

The automobile industry is dynamic as it is undergoing changes with advancements in technologies. Several major players in the industry, such as General Motors Company, Volkswagen AG, Mercedes-Benz, and BMW AG, are making significant investments in the research and development of technologies. Growing trend of autonomous vehicles in the automotive industry is attracting larger investments in the development of these automobiles. Moreover, the U.K. government has granted permission to test self-driving cars on public roads. Furthermore, the Federal Department of Environment, Transport, Energy and Communications (DETEC) in Switzerland has permitted driverless testing on the streets of Zurich.