Outlook on the Worldwide Autonomous Cars Industry to 2030 - Understand How the Market is Being Affected by the Coronavirus - ResearchAndMarkets.com

The "Autonomous Cars Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.

This report provides the strategists, marketers and senior management with the critical information they need to assess the global autonomous cars market.

The global autonomous cars market is expected to decline from $24.10 billion in 2019 and to $23.33 billion in 2020 at a compound annual growth rate (CAGR) of -3.19%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $37.22 billion in 2023 at CAGR of 16.84%.

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The autonomous cars market consists of sales of autonomous cars and related services. An autonomous car means navigating a vehicle without human input from passengers using sensing equipment (LIDAR), environmental sensitive control equipment, and navigation equipment.

North America was the largest region in the autonomous cars market in 2019. Asia Pacific was the fastest growing region in the autonomous cars market in the forecast period.

Full automation vehicles is a key trend in the autonomous cars market. The full automation vehicles are capable of performing all driving functions in all circumstances, these vehicles are being designed to be used as robo-taxis, among others, such as Waymo. Eventually, these self-driving cars will blend into U.S. roadways by improving technology across six stages of driver assistance in the coming years from No automation (where a fully engaged driver is still required) to full autonomation (where an automated vehicle runs independently, without a human driver). Tesla has confirmed that it plans to provide a software update to its vehicles sometime by the end of 2019 or early 2020. Also, according to Wired, by the end of 2020, Teslas will be fully autonomous.

The autonomous cars market covered in this report is segmented by product type into semi-autonomous vehicles, fully-autonomous vehicles. It is also segmented by application into civil, robot taxi, ride hail, ride share, others.

Cybersecurity and safety concerns are the key factors hindering the growth of the autonomous cars market. Although the self-driving car market has enormous growth potential, many customers are not quite ready to hand over the keys owing to the threat of hackers as they can try to steal data and self-driving cars can go unofficial by exposing their driving routes and destinations that could threaten the privacy of passengers.

The prospect of hackers taking control of the vehicles is even more concerning. For example, the first case of an autonomous car killing a pedestrian was reported in Arizona (USA) in 2018. In 2017, Chinese researchers revealed Tesla Model X vulnerabilities, researchers hacked the vehicle via Wi-Fi and cellular connections using software that was sent to the car's web browser in a series of circuitous computer exploits.

Key Topics Covered:

1. Executive Summary

2. Autonomous Cars Market Characteristics

3. Autonomous Cars Market Size And Growth

3.1. Global Autonomous Cars Historic Market, 2015 - 2019, $ Billion

3.1.1. Drivers Of The Market

3.1.2. Restraints On The Market

3.2. Global Autonomous Cars Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion

3.2.1. Drivers Of The Market

3.2.2. Restraints On the Market

4. Autonomous Cars Market Segmentation

4.1. Global Autonomous Cars Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

4.2. Global Autonomous Cars Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

5. Autonomous Cars Market Regional And Country Analysis

5.1. Global Autonomous Cars Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

5.2. Global Autonomous Cars Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned

• BMW Group
• Tesla Inc.
• Ford Motor Company
• General Motor Company
• Nissan Motor Corporation
• Daimler AG
• Toyota Motor Corporation
• Volkswagen AG
• Volvo Group
• Waymo LLC
• Aptiv
• Continental AG
• Nvidia Corporation
• Intel Corporation
• Baidu Inc.
• Honda Motor Company Ltd.
• Hyundai Motor company
• Uber Technologies Inc.
• FCA Italy S.p.A.
• Fiat-Chrysler
• Autoliv Inc.
• Bosch GMBH
• Jaguar Land Rover Limited
• Subaru of America, Inc.
• Audi AG
• Groupe SA
• AB Volvo
• Robert Bosch GMBH
• Denso Corporation
• Samsung
• Google Inc.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20200520005336/en/