Autonomous vehicle market is projected to grow at CAGR of over 21%...

Autonomous vehicle market is projected to grow at CAGR of over 21% by 2030

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US: According to “Global Semi & Fully Autonomous Vehicle Market By Automation Level, By Component, By Vehicle Type, By Region, Competition Forecast & Opportunities, 2016–2030”, semi & fully autonomous vehicle market is projected to exhibit a CAGR (Compound annual growth rate ) of over 21% by 2030.

Growing focus of automotive OEMs on enhancing safety features and increasing government support for developing driverless vehicles are the major factors anticipated to aid the growth of global semi & fully autonomous vehicle market during the forecast period.

Moreover, foray of technology giants such as Google and Intel, among others, in autonomous vehicle market is further encouraging adoption of autonomous vehicles, thereby positively influencing the global semi & fully autonomous vehicle market.

Some of the major players operating in global semi & fully autonomous vehicle market are BMW AG, General Motors Co., Toyota Motor Corporation, Ford Motor Company, Nissan Motor Co. Ltd., Volkswagen AG, Tesla Motors Inc., Volvo Car Corporation, Fiat Chrysler Automobiles (FCA) NV, and Hyundai Motor Company.