Self-Driving is a Global Thing

11 Jul by Vitaliy Dadalyan

Self-Driving is a Global Thing

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Mercedes-Benz Actros tractor used to demonstrate Daimler’s Highway Pilot Connect autonomous technology on German roads. Photo: David Cullen

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According to Infoholic Research, the global autonomous vehicle market revenue is expected to grow at a compound average growth rate (CAGR) of 39.6% over the next 10 years– resulting in a $126.8 billion market by 2027.

“The increasing investments from the automakers, the rising consumer demands, and technology advancements in the automotive industry have led to the increased demand for driverless vehicles,” stated the research firm in a press release on its newly released market report.

“In the current market scenario, self-driving is not just limited to cars but is also gaining popularity among public transport and trucks,” said Infoholic Research. Thus, most of the enterprise sectors including retail, manufacturing, transportation and logistics will prefer autonomous vehicles for delivery purposes in the future.”

Mercedes-Benz Actros tractor used to demonstrate Daimler’s Highway Pilot Connect autonomous technology on German roads. Photo: David Cullen

” width=”259″ height=”271″>The report segments the market and analyzes it by product type, autonomous vehicles type, and operating regions.

In terms of product type, software is expected to hold the major market share, followed by the hardware and services segments.

“The software segment is mainly driven by the fully autonomous vehicles when compared to semi-autonomous vehicles,” Infoholic stated. And while hardware providers have “new business opportunities due to different types of components that will be used in autonomous vehicles,” hardware market share is expected to drop in the coming years as “the adoption rate of autonomous vehicles increases.”

Segmentation by region shows that North America is the leading arena in the autonomous vehicle market. Infoholic called it “an attractive destination for key stakeholders due to the availability of high-end infrastructure, rising investments from automakers, and government initiatives.”

Also key will be the Asia Pacific region. China, India, and Japan are expected to lead that market for the next 6 to 8 years. The researchers …Read the rest of this story

Source:: http://www.truckinginfo.com/channel/fleet-management/news/story/2017/07/self-driving-is-a-global-thing.aspx