ReportCrux Market Research has published a new report titled Autonomous Vehicle Market by Component (Hardware, Software, and Services); by Level of Automation (Level 1, Level 2 & 3, Level 4, and Level 5); by Type (Conventional, Hybrid Vehicle, and Electric Vehicle); by Application (Transportation [Industrial, and Commercial], and Defense); and by Region: Global Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 2027.
Autonomous Vehicle Market Size
According to the report, global demand for autonomous vehicle market was valued at approximately USD 13.62 Billion in 2019 and is expected to generate revenue of around USD 142.41 Billion by end of 2027, growing at a CAGR of around 34.1% between 2020 and 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 1980s 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 ...