Precision Business Insights has published a report on the global autonomous vehicle market, estimating its value at USD 51,545 Million in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 12.7% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/autonomous-vehicle-market
The Autonomous Vehicle Market refers to the ecosystem that surrounds the development, manufacturing, deployment, and operation of cars capable of performing driving tasks with little or no human interaction. This covers different levels of automation (from driver assistance systems to complete self-driving, SAE levels 0–5) employing sensors (LiDAR, radar, cameras), AI/machine learning algorithms, sophisticated computers, connection (vehicle-to-vehicle and vehicle-to-infrastructure), and control systems.
Drivers:
- Growth in ridesharing, robotaxis, and last-mile delivery.
- Improved LiDAR, radar, and AI systems enable safer automation.
The global autonomous vehicle market segmentation:
1) By Vehicle Type: Passenger Cars and Commercial Vehicles
2) By Components: Camera Unit, LiDAR, Radar Sensor Ultra Sounding, and Infrared Sensor
3) By Application Type: Transportation and Defence
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Regional Overview:
The report also examines the current concerns and their Future Effects on the autonomous vehicle market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the autonomous vehicle market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
The competitive landscape is dominated by major players like AB Volvo, Bayerische Motoren Werke AG, Ford Motor Company, General Motors, Hyundai Motor Group, Mercedes-Benz AG, Renault SA, Tesla, Inc, Toyota Motor Corporation, Volkswagen Group.
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