Friday, 13 May 2016

Autonomous car Market is expected to grow with 50% CAGR Globally

In the recent years autonomous car technologies have advanced to very encouraging levels and is expected to become commercially in few years. In few years new car models are using features such as parking assist system, adaptive cruise control etc. Self-Driving cars provides increased road safety and lesser accidents. In recent years various automobile companies like Mercedes-Benz, Nissan and General Motors etc. are working on autonomous cars.Even electric car companies like Tesla S have introduced some of the “autopilot” features in 2015, and Google leader in the autonomous car industry is expected to tie-up with some automobile manufactures to bring its self-driving car in the market.

Global – Forecast for Sales of Self Driving/Automatic Car (Million), 2020 – 2035 

Source:Frost & Sullivan, BI Intelligence, IHS, Renub Research Analysis

As per an analysis from 2020 to 2025 the autonomous car is expected to grow with a CAGR of merely 5%, but from 2025 to 2035 it is expected to grow with a CAGR of nearly 50%. North America and China will together control more than 50% market share in autonomous car market. Europe will also account for a significant amount of market share globally.

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