Autonomous Vehicles market is anticipated to grow at a CAGR of 24.2% during the forecast period (2023-2030). Autonomous vehicles, also known as self-driving cars, are vehicles that are capable of sensing their surroundings and operating without human involvement. They use a combination of sensors, software, and artificial intelligence to navigate roads, avoid obstacles, and obey traffic laws. AVs are still in the early stages of development, but they are rapidly becoming more sophisticated and reliable.
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The global Autonomous vehicles market is segmented on the component, application, and vehicle type. Based on the component, the market is sub-segmented into hardware and software. based on application, the market is sub-segmented into transportation and defense. And based on the vehicle type, the market is sub-segmented into car, bus and truck. Among the vehicle type, the truck sub-segment is anticipated to hold a considerable share of the market, owing to Autonomous vehicles are widely used in various industries for better supply chain. Autonomous vehicles are essential components of automated systems, providing accurate position of supply and help to control it. And overcome long-standing issues that have plagued the trucking industry including driver shortages, lagging efficiency in uptime per vehicle, overarching safety concerns, high operating costs, and elevated emission levels. For instance, in September 2023, Stack AV, announced the launch of its autonomous trucking business, which leverages its self-driving technology to improve efficiency and enhance safety in the trucking industry, while tackling supply chain challenges for its partners and their consumers.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Autonomous vehicles Market Report Segment
By Component
- Hardware
- Software and Services
By Application
- Transportation (commercial and industrial)
- Defence
By Vehicle Type
- Car
- Bus
- Truck
Global Autonomous vehicles Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Autonomous vehicles market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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