Self-Driving Cars and Trucks Market To Perceive Heavy Growth of Around 63% CAGR Due To Government Support Through Favorable Initiatives And Funding Till 2030 | Million Insights

September 02 06:12 2021
Self-Driving Cars and Trucks Market To Perceive Heavy Growth of Around 63% CAGR Due To Government Support Through Favorable Initiatives And Funding Till 2030 | Million Insights
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According to new report available with Million Insights, the global self-driving car & trucks industry is estimated to grow from 2021 to 2030. Self-driving vehicles are alternatively called autonomous vehicles and are one of the major inventions in the automobile industry. The autonomous vehicles are projected to work as a catalyst for the growth of the automotive industry.

The global self-driving/autonomous cars and trucks market size is projected to touch 4,223 thousand units by the end of 2030, as per a new report published by Million Insights. The market is anticipated to register a CAGR of over 63% over the forecast duration. Various networking systems and sensors help facilitate autonomous driving. Thus, major players such as Tesla Motors and Google LLC are investing huge on research and development activities. Several other players such as Mercedes-Benz, Volkswagen AG, General Motors Company (GM), and BMW invest a considerable part from their revenue on research & development. The automobile industry is dynamic in nature and the industry is going through various technological advancements.

On the basis of application, the autonomous cars and trucks market is categorized into defense and transportation. Further, the transportation segment is bifurcated into commercial and industrial. Transportation category is estimated to hold the largest market share over the forecast duration. On the other hand, the defense segment is projected to grow with the highest CAGR from 2021 to 2030.

To download the sample PDF of “Self-driving Cars and Trucks Market Report” please click here:

North America self-driving cars & trucks market

North America is predicted to dominate in the global market in 2020. Favorable government regulations and technology adoption in the region are attributing to the growth of the regional market. Additionally, Europe is estimated to hold considerable share over the forecast duration owing to the presence of leading manufactures in the region and increasing infrastructural development to support autonomous vehicles.

To browse report summary & detailed TOC, please click the link below:

Global self-driving cars and trucks market

Further key findings from the report suggest:

• The demand for autonomous cars and trucks is estimated to gain traction owing to favorable government regulations in place globally.

• The defense application category is anticipated to grow at 86.4% CAGR from 2021 to 2030.

• Countries such as the U.S, Japan and China are estimated to expand significantly owing to better infrastructure development to support the autonomous vehicles.

• Key players involved in the self-driving cars and trucks market are Ford Motor Company; Toyota Motor Corporation, Tesla, Inc.; General Motors, BMW AG, Audi AG and Google LLC among others.

Million Insights has segmented the global self-driving/autonomous cars and trucks market on the basis of application and region:

Self-driving/Autonomous Cars and Trucks Application Outlook (Volume, Thousand Units, 2020 – 2030)

    • Transportation

        • Industrial

        • Commercial

    • Defense 

Self-driving/Autonomous Cars and Trucks Regional Outlook (Volume, Thousand Units, 2020 – 2030)

    • North America

        • U.S.

        • Canada

        • Mexico

    • Europe

        • Germany

        • U.K.

        • France

        • Netherlands

        • Sweden

    • Asia Pacific

        • China

        • Japan

        • Singapore

        • Australia

    • South America

        • Brazil

    • Middle East and Africa

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