Autonomous Vehicle Market for Luxury Segment Worth 126,774 Units by 2030

PUNE, India, October 23, 2017 /PRNewswire/ --

The report "Autonomous Vehicle Market for Luxury Segment by Body Type (Sedan/Hatchback & SUV), End User (Personal Mobility & Car Sharing), Fuel Type (BEV, Hybrid, ICE, & FCEV), Component (Radar, LiDAR, & Biometric Sensors) and Region - Global Forecast to 2030", published by MarketsandMarkets™, the market for luxury segment is projected to be 27,906 Units in 2025 and is projected to grow to 126,774 Units by 2030, at a CAGR of 35.35%. The market is principally driven by the need for a safe, productive, and efficient driving experience and growth of connected vehicle technology. The increasing demand for luxurious features in vehicles such as luxury interior, lounge, and visual and acoustic signals for greater safety would also drive the growth of the autonomous vehicle market for luxury segment.

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Browse 65 Market Data Tables and 66 Figures spread through 174 Pages and in-depth TOC on "Autonomous Vehicle Market - Global Forecast to 2030"

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Sedan/Hatchback segment to hold the largest share of the autonomous vehicle market for luxury segment, by body type 

The increasing demand for luxury vehicles and ongoing testing of autonomous vehicles using sedan/hatchback cars will contribute to the growth of the autonomous vehicle market for luxury sedan/hatchback segment. Also, car sharing is expected to have a bigger market than personal mobility. The sedan or hatchback cars would be preferred for car sharing as they have a higher fuel efficiency than SUVs. Also, hatchback cars are relatively cheaper than other cars and have therefore witnessed the maximum demand in developing countries.

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Battery Electric Vehicle (BEV) - To acquire the largest market share in fuel type 

BEV is estimated to hold the largest share of the autonomous vehicle market for luxury segment, by fuel type. Stringent emission norms, environment safety, vehicle electrification, and government regulations are expected to boost the market for BEV autonomous luxury vehicles. The market for BEV autonomous luxury vehicle would also get a substantial boost with the development of a dependent and innovative battery technology.